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To be short Vega and long gamma when the market rallies, you can sell an OTM call calendar. To make it delta neutral, buy a few extra near months calls until neutral. This will also add to gamma if stock rises. To get long Vega and short gamma on the down side, buy an OTM put calendar. Same...

I sent you a PM. I'll need more details to offer help......BTW: The best programs are never free. You either pay for the program or in higher commissions. Bob rmorse@victorsecurities.com

Every firm that offers free ETF trading has restrictions: Are there any restrictions on the commission-free ETF trades? The commission-free trades on the 30 iShares ETFs must be done online at Fidelity.com, Active Trader Pro, Wealth-Lab Pro, or through Fidelity's wireless channels...

Is $1.25-1.50/contract a good price to you?

These market makers use the opposite strategy. A market maker makes two side markets all day and takes the other side of everyone trades. They made their money pricing options properly, managing their risk, and making money on the spread for taking the risk of adding depth and liquidity to the...

Let's assume the X-date is Monday August 22, 2011. Before the open, you get your positions that morning. That position determines who is short and long. Options exercise is same day. So, the next morning your position included previous days exercise assignment unless the broker dealer has to...

Your getting caught up in terms. It's really very simple. On the x-div date, the "owner" of long stock gets the dividend. Whatever tax treatment he's entitled to at that time, he'll get. If on that date, you're short stock, you owe the person you borrowed the stock from to sell it short, the...

Sounds like the two ETFs you're talking about became hard to borrow. This can happen in a market like this from the high open interest in weekly options. They are passing on the extra cost of getting locates.

They are trying to attract depth and liquidity. Other exchanges do that by offering member the opportunity to make two sided markets. Market makers pay for order flow on many exchanges for the right to buy on the bid and sell on the offer (ISE, CBOE, AMEX, PHLX). On the BOX, they charge you a...

Not a typo. http://www.bostonoptions.com/pdf/BOX_Fee_Schedule.pdf look at page 6....

Thanks..........I really like this. I was a Wire Clerk, Floor Broker then AMEX market maker from 1982 - 2010. I get it. Bob

I don’t believe there is a “best” platform for everyone. Professional platforms are typically directed at a specific traders. These are platform we offer and who I feel would benefit from them. Sterling Pro: Equity/Options high volume day traders Silexx Obsidian: Equity/Option...

Different exchanges have different rules for pro cust. Most exchanges allow two sided orders but charge $0.20 for exchange fees rather than $0.00. You can call me tomorrow if you need more information.

They told me both.

In a spread in a stock like aapl, if you believed the spread was worth 1.25, and the bid/ask on the screen is 1.00/1.50, would you want to bid 1.05 and sell out what you bought at 1.40, while still bidding 1.05? That's why. Also, with spreads entered as one order, there is no slippage.

I spoke with market regulation at the CBOE. "Customers" are restricted from two sided order flow to open because customer orders have priority to members. It also applies to the complex order book for the same reason. However, you can open/close. So if you're bidding 1.00 for 100 spreads, you...

If your not designated "professional", data fees are very inexpensive. So, for some retail accounts that pay high rates, paying for data fees is a small expense.

Obsidian is an excellent platform for $400/month, I offer it myself. Actant extreme is $2500/month plus a direct market feed like Activ. For about $3000/month you get something that was designed for market makers and x-market makers to aggresively interact in the option markets with pre set...

I believe Obsidian uses implied volatility calculated from the markets. I don't think it allows you to use your own curve.

Actant Extreme uses scripting to run strategies. It also allows for delta neutral trading and gamma scalping. This program is not cheap but worth it for traders with enough capital and a strategy they would like to automate.