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Also the Sept monthly expiration reversal, 8 days out, is going for 10.5 over fair value. So if you put a synthetic short on, it would cost you about 1.30 a day, which is about 390%.

Rate two days ago was 501% for me (Apex Clearing), but there was none available. The reversals have increased in value quite a bit over the last two days, which means it is even more costly now. The March 19 reversal is trading over $45 above fair value.

Just crazy how out of whack the options are in TLRY because of the cost to short the stock. No one should be buying this stock, if they want to get long, buy the calls. Otherwise you are giving a huge amount of money to your clearing firm. Today you could buy the March 19 80 calls for 1...

Just quoted a borrow rate of 501%. Ha.

If you are unhappy with IB, I would also suggest Lightspeed for you. You will have your choice of software platforms, which seems to be your main concern.

No shorts available at our firm.

I'm a bit confused on what you are seeing and what you want to see. In the SPX, I can see only the best bid and offer and the size of that order. I wasn't aware you could see any depth behind this. In equity options (which are multiply listed, unlike the SPX) such as FB, I can see the best...

For multiple leg complex orders, I believe all the exchanges that offer a COB (complex order book) do not charge any exchange fees for executing the spread (for non professional customer orders), except the C2 exchange. The C2 will give a rebate for providing liquidity and charge for taking...

Hey Bob, Can you view the COB with their software?

Yesterday was the last day to trade the weekly options. The expiration price is based on the opening prices this morning of the Sept 28th SPX options. The settlement price is posted shortly after the opening. 12.28 was the settlement price.

Bob, haven't been trading the Vix as much lately but I think customer priority is still there. They are still charging a .20 "customer priority fee" http://www.cboe.com/framed/pdfframed?content=/publish/feeschedule/CBOEFeeSchedule.pdf&section=SEC_RESOURCES&title=CBOE%20Fee%20Schedule I will...

Disagree with this. Huge advantage in options in certain products of being first in line on a trade before any MM or professional trader. Very useful in tight markets like the VIX. Here an option could be 2,000 up, .10 wide and if you put a bid or offer in as a retail customer, you will be...

For me commissions run about 40%.

You're not really "down" $577 because of them. The bust was legitimate and not their fault. The question was when they informed you of it and where you could have exited the call when you found out vs where you could have exited it if you knew before the opening. $200 sounds reasonable to me.

I am assuming the fill took place at the CBOE. Here is the link to the rule (I believe there are some updates) http://www.cboe.com/publish/regcir/rg15-074.pdf It sounds as though your trade bust is legitimate. The key here is when TD informed you of it. They should have informed you before...

IMO, Robert Morse gave you excellent advice. (as usual)

I agree with you Robert, just mentioning that some good came from the rule change. You are right, customer and time priority are tough to give up.

I don't know if this is necessarily correct Robert. Although customers lose priority, this has an effect of tightening quotes and providing larger size on those quotes. So some bad and some good. The quotes in the SPX have definitely gotten tighter. I now see .10 wide quotes in the out of...

Spx and Vix options are traded overnight between 2am and 815am ct. IB offers trading between these hours. Some other brokers offer trading during part of this overnight session, such as Fidelity, which offer trading starting at 6am ct.

Not sure if any one else noticed, but the Cboe changed the way customer orders are filled in the SPX. It used to be that there was customer priority, so if your order was marked as customer, you got priority over all other traders. This was especially useful in tighter markets or if you...