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Short calendars are treated as a naked short option per Reg T rules.

I was thinking that it has something to do with a backspread (for the explosion on a very sharp move) attached to something like a butterfly or iron condor. You are net long options (for the positive vega and gamma) with the backspread and can do well with a dull market or something that explodes.

This is what it looks like against a 50 cent Euro coin.

Please give Def a break since he is in Hong Kong time (13 hours ahead of us in the East Coast.

In DC. Home.

11:15 (Dow Jones) Floor-based securities exchanges are accustomed to seeing their seat prices slump in this age of electronic trading. But at the CBOE, seat prices are climbing faster than the Nasdaq Composite Index. The seat sold last week fetched $295,000 - up from $240,000 on Sept. 26 and...

Got TMBR today trading FBF.

Market makers from all exchanges always could "pick anybody off" on the ISE.

Also, from a US perspective, it will make our imports more expensive so things that are produced over in China (i.e., semiconductor chips, toys, etc.) will be more expensive for US residents.

In E-Trading Competition, Options Customers Win By Steven Smith Staff Reporter 10/03/2003 01:00 PM EDT URL: http://www.thestreet.com/options/stevensmith/10117259.html In Wednesday's column I looked at the structure and regulation of the options industry. Today I'll focus on product...

Be careful about trading during the opening rotation. This is one time where an option can trade through the NBBO.

But remember that two sided may not mean making a market in an option. It could be me bidding 0.05 to close (GTC to get priority in the book) and then someday in the future selling the same option (to open) at another price. With the "market making rules" I would have to cancel my GTC buy...

Vega, Although you are probably correct with the two sided markets, just remember the basic principles of the BOX are legit. No cancellation fees and electronic (like the ISE) versus the other models (AMEX, Philly). If you trade enough options on the other exchanges you have seen the...

Issue Symbol IYR Issue Name iShares Dow Jones US Real Estate Amount 1.219626 Ex-dividend Date 09/12/2003 Record Date 09/16/2003 Payable Date 09/23/2003

What would you expect from Saddam's Angels?

I know that there is a customer to customer rule where any customer to customer cross of 25,000 shares or more can be done between the bid and ask (or at the bid and ask). The cross trade cannot be broken up by anything on the book even if the order has time priority. I do not know if they...

NASDAQ AND THE PHILADELPHIA STOCK EXCHANGE PARTNER TO OFFER OPTIONS ON THE NASDAQ COMPOSITE INDEX® Contacts: Melissa Fox Barbara Sorid NASDAQ The Philadelphia Stock Exchange 212-401-8721 New York and Philadelphia, September 4, 2003 – The Nasdaq Stock Market, Inc. ("NASDAQ®") and...

Depending on your tax status you may get the 60/40 treatment on the futures.

The selling the 10-20 call spread at 10 would be much more superior than selling the 15-20 call spread at 5. Between 15 and 20, both would yield the same amount of profit, but at 15 and below the 10-20 would provide much more profit than the 15-20 (the 15-20 is capped out at 15). Plus, if you...

Nitro, Any professional would do this trade (if it existed without legging) as much as they could. The majority of the time, you would lose commissions (in the case of a professional like Metooxx it would be small), but the one little chance that the stock blows up, you will hit a home run.