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The adjusted XRX is listed as XRX2. 1 contract is 25 XRX.

You have the same SIPC insurance with Wedbush, Apex, IB, Goldman, Merrill, and others.

At least you said he is a Cool Old Man.

Ha, Old Man Morse, that's funny.

Max E. Do you not understand this is not a prop firm. Sorry you got taken, but this is very different.

Wedbush is the clearing firm. This is where your money resides. Lightspeed is the introducing broker to Wedbush and acts as an intermediary between the customer and the clearing firm. They provide additional guarantees to the clearing firm incase the customer blows out. They deal with the...

Max E, your comments make no sense. Lightspeed is not a prop firm, they are an introducing broker, and your money would reside with Wedbush, a clearing firm.

Just to add a bit more, Different exchanges have their own COB's. You may be bid for a spread on one exchange and another your spread is offered at another and you wont be filled. I am most familiar with the CBOE's COB. Here it is first in first out. Market Makers cannot rest orders in the...

No chance for an individual in the SPX pit now. First you will have to pay a trading permit fee of about $7,000. Add another $3,000 for technology, You will also have to join a JBO/Prop firm that currently has traders on the floor. There are still a few. The clearing firms will have no...

Yes, I agree. I think you would see the disseminated quotes tighter, but the actual real markets will remain the same.

The actual bid/ask spreads in the SPX are very tight, if you are able to quote it in the pit or shop it upstairs first. The reason you see wide quotes on the screen is because there is a very limited number of firms allowed to quote the options electronically. When I was on the floor, it was...

Are you talking about stock or options?

I don't think anyone will disagree with you. The OP should have covered these options earlier if he didn't have enough margin handle an assignment. IB should cover the position to protect themselves. But if they can do it in a manner that saves the customer money at no extra risk to...

You would have most likely been filled at a price much better than 30. If I sold you the spread for 30, I would have a "free shot" of the stock falling below 960 at anytime before 430pm ct. For example if the stock falls to 459, I would by the stock and my 930 calls would be assigned and take...

So it was filled as two separate orders not as a spread (from two exchanges) If it was entered as a spread, the fill price would have been much better. Seems very unreasonable that IB's program couldn't have entered the order as a spread.

I would be interested in knowing whether they filled the order as a spread or a separate order on each leg. Can you check time and sales and see?

What Bob said. But if the stock is trading below the price of your puts in after hours, it is possible you could still be assigned. The owner of the put could buy the stock now, after hours, and then exercise the put and lock in a profit.

As Robert stated, no equity options traded here overnight. SPX and VIX options are traded between 2am and 815am ct.

After hours trading is definitely relevant, as is big news. I used to do this play a lot in the VXX. For example if the VXX is at 13.97 just before the close on expiration day and the 14 calls are trading .02. I would buy the calls with the hope that I could sell VXX at above 14.02. VXX would...

You also have a risk of assignment due to after hours trading. For example the stock could close below 99.80, but news comes out after the close and it is trading higher causing someone to exercise the 100 calls that you thought were safe. Options can be exercised up to 530pm ET.