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Hi rydeman, do you still use OX or TWS as I noticed you just recently signed up with IB. If you're using TWS do you also have any problems putting your spread orders as a combo? Thanks

Thanks Coach, So you're saying your X-Trader does not do spreads, but further down your post you said you put your SPX orders as a spread:confused: Is that because you do your SPX orders on OX? Mmm.. you leg into ES credit spreads as well...so does rallymode. I might try that too. Its...

Im using build 860.9 June 20 2006 Its basically the latest one cause I downloaded the platform around 5 days ago. I have put this problem on an enquiry ticket to them and they came back and said "You will have to leg into this spread on your TWS because spread orders for these...

Rally, I understand now why you leg in. Thats because you can't sell ES credit spreads as a combo order. I tried to sell ES bull Puts yesterday on TWS. Managed to get the spread quote on the quote panel. But once I tried to "Transmit" /sell the spread as a combo order, i got a message saying...

Hi Augiedixit, Sorry for the late reply as I was alseep on the other side of the world when you wrote this message. So when i write this you'll be asleep : ) Yup I trade ES through IB (Interactive Brokers) as well. Just opened the account, cause like you I had and still have an account with...

Cool, i think i get the picture. Thanks Prevail :)

Thanks RR, Too much to digest :eek: After Mo's links and your example, I should start feelin pretty comfortable with these flies :p These threads' real life examples are really handy to complement my readings of Mc Millan. Just what i need Cheers

Thanks Mo, Will have to keep this one in my GEMs file. :D Have been intimidated by the complexity of the different flies for a while so have not really looked closely at them. Times have changed and I'll be adding them to my arsenal. :p

Nope. Have to read that asap :D

Thanks I think I get it. OK I used the 1315/1325 because the gap between SPX and ES is around close to 10. So you're saying i should use 1310/1320 because the gap will decrease. Why will it decrease to only 6-7 and not 0 by expiration. Well if that's the case ES spreads look way better now. So...

I think theres a post a few pages back...ill have a look at that

I think thats incorrect? ES may be half the value but im also using halve the margin. Every point is multiplied by 50 instead of 100. err im confused, i think you may be right. Have to think about this one a while :confused:

Hi Coach, rally or anyone, This question may have surfaced in the past but dont remember seeing it. I noticed that I can get a higher credit on SPX than on ES spreads. Why would you want to trade ES when you can get better credit on SPX? eg ES ~ 1281 1315/1325 spread 0.55 mid...

Hi Im no expert but I think you might want to look at a thread called SPX Credit Spread Trader Its by optioncoach Your margin requirements will not fluctuate if its a credit spread.. calls or put spread. But you still have to manage you risk and know when to close. Check that thread out...

Yeah the risk return does seem quite nice. Cant lose to much but can gain a lot : ) But trying predict the underlying and get it to fall very near the atm stirke or body is the key to striking gold. But I think as long as it falls anywhere between the two long strikes or wings, Im not doing too...

Hi Mo, just looking at after hours SPX quotes on OX and it seems one can get 5:1 or better. Here are the numbers SPX ~ 1265 BID ASK MID Buy 1 1275C 8.2 8.3 8.25 -8.25 Sell 2 1285c 4.2 5.0 4.60 9.2 Buy 1 1295c 1.9...

HI Mo, Risk, Really dumb question but when you say butterflies do you mean eg. GOOG ~ 420 Therefore I would put on Buy 1 430C Sell 2 440C Buy 1 450C Sorry but just making sure im fully understanding the position we're talking about. scoobs

Nice move Coach. With your partial hedge....I might be wrong but it does now seem to resemble a little like a Put ratio spread in a general sense. Your credit spread could be the short side of the of the ratio spread and the ES Puts your just bought could be the long side :) Now if ES fall...

Thanks Mo:)

Rally, one more quick question. Are the ES option prices dependent or based on the SEP ES futures and not the DEC ES futures?ie the nearest month. So if at expiry, July 21 1280 PUT is 20, does that means SEP ES Futures is at ~ 1260? Thanks