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Don't know if they changed the rules during the last 3 years, but a NYSE market on close order has to be in 20 (or is it 30) minutes before the close. Once it is in it cannot be cancelled. You can enter an offsetting market on close order if there is a published imbalance. For example, if IBM...

AMEX is not an automated exchange.

You may have been screwed by the opening rotation where the option exchange isn't (and doesn't have to ) take into account the NBBO when executing the trade. In the morning, I wait for all option exchanges (EXPE is traded on all 5 option exchanges) to open to minimize any chance of a trade...

I am guessing that the notes are used to raise capital for the holding company. IB is probably either (1) locking in low rates, (2) arbing the interest rate curve by borrowing from customers and lending on the market (i.e., by some type of arbitrage), or (3) just trying to experiment to see...

Actually it is OK for the AMEX to ban this stuff because all of the autoquoted ETFs will move to an electronic platform (like Island). In addition, since the AMEX isn't an automated exchange, orders could be "held up" before a cancel; thus, it wouldn't be in the best interests for an entity who...

That actually isn't true. IB will prohibit traders (at least in the same account) from entering a buy order and a sell order on the same option (even if it is on different exchanges).

Attached is a PRIMEX .pdf factsheet

I entered an order (to close) this morning on the CBOE. They opened the option and didn't change the quote to reflect my market at all. I tried to cancel the order, the IB system went pink. It stayed pink all day until I got an execution (around 12:00 pm or maybe 1:00 pm). I am guessing that...

I found that when I left an option order GTC, the system either keeps the order for the ISE or P-Coast exchanges. Then the option would open on the AMEX or Philly at my limit or higher. The order wouldn't be reflected until the exchange opens. Then I would miss a possible execution. I just...

You can move the underlying symbol next to the option. On my screen, I have the underlying on top and then the options below making it easier to see the option price change when the underlying changes.

PDF file for the NYSE Direct+

This was on the IB website under the section Fees and Commissions/Debit/Credit Interest: "The credit rate will be applied to the average monthly credit balance, the short credit rate to the average monthly short credit balance, and the debit rate to the average monthly debit balance. "...

Just a thought..... Looks like EK will be reporting earnings on January 24 (conference call at 10:00 am) for the 4th Q. This may impact the option prices. http://www.kodak.com/US/en/corp/investorCenter/investorsCenterHome.shtml

Microhedge is a great product. Used it when I was on the sell side. Also may want to check out Fincad (www.fincad.com). This is an excellent Excel add-on (macros) that does the simple (exchange traded options) to the complex (credit derivatives, converts, etc.).

Remember that the SPX and the OEX are only traded on the CBOE. You may want to look at options on the ETFs instead like the QQQ, BBH, or SMH. These options are traded on all 5 option exchanges which will help in narrowing the bid-ask differential.

Thanks qwicktrade

Def, Is it possible to have the Rapid Order Entry part of the TWS to be enabled or disabled (at the choice of the account user)? Like under the account settings, have a button to enable or disable the function. Some people find it useful while others may not care about it.

Gene, It is my understanding that any spread order that is accepted by a brokerage firm is also sent to one exchange as opposed to buying one part of a spread on one exchange and doing the other part on another exchange. Thus, although the composite NBBO (i.e., taking into account all...

They listed 2.5 strikes in KM, too.

Go to Hong Kong instead. No capital gains taxes, no withholding taxes, no sales taxes, no VAT, and no annual net worth taxes. Employment income is taxed at a maximum rate of 17%. No taxes on dividends. In contrast, short-term capital gains in the US are taxed at the highest marginal...