Search results

Actually Vix option spreads can also trade in pennies. This can be done electronically through the COB or with a broker. The options, if traded by themselves, not in a spread, cannot trade in pennies, even with a broker.

Not true Robert. As I said in post #3, VIX futures time spreads can trade in pennies. I traded these quite a bit through Redi. Also I don't believe there is a "crowd" for the VIX futures.

Vanzandt, Snap Guru. You're right once again. 17.68 after hours.

Interesting, thanks for the post

I was going to post this as well. We are going to be left with a few huge firms making markets. The technology and capital that is now required to make markets profitably is huge. Along with very high costs that exclude individuals and smaller firms.

No, the regular monthly SPX options will continue to trade on the CBOE's "old" hybrid system. There is still tremendous liquidity here, but not really advantageous to the smaller customers. With this system, there are wider quoted markets (even though the real market might be very tight) and...

Just a heads up that the CBOE will be converting all SPXPM options to SPXW options for this Monday. So, as of Monday, you will see two sets of monthly SPX options. One will expire in the morning (SPX) and one will expire in the afternoon (SPXW). Currently SPXW were just the weekly and...

This happens with the VIX futures when you are trading a VIX future time spread. When you are trading the future outright, you can't do it in penny increments.

Nice review, thanks. I see if you are trading the SPX or VIX you are paying 1.79 in (.10 clearing fee, .04 reg. fee, and .65 exchange fee) and .79 out. So a net of 1.29 each way, if you close out a position. If you let it expire, you are paying the 1.79. The .65 they charge in exchange fees...

To be honest I really have no understanding on what really constitutes chargeable non-display fees. It seems to depend on how aggressive your broker or platform views the rules, which are hard to understand.

The firms are facing a lot of pressure from the exchanges to identify these users, from what I understand. My firm has nothing to gain from charging me these fees and I'm sure they would prefer me not having to pay. If they told me I did, I would simply stop using the offending program.

Fortunately we never got to point of determining the fees.

Custom written

Apparently the way I interact with the data. I have to manually click to send an order after my program filters the data.

Actually I have been contacted by my execution platform company and my introducing broker as well. I have a program that they thought may be impacted by this rule and I had to answer a number of questions before it was determined that I was ok.

It will also depend on what products you trade. If you are trading the SPX or VIX options, you will pay an additional exchange fee of up to .60 per contract with IB and most other brokers, although some will give you an all in price and will not pass these extra exchange fees on to you.

Sorry Pekelo, was hoping it would work out for you.

Interesting, I am assuming it is some type of scam. How long ago was last feedback left for your seller? The one you posted was over a year ago. Was just reading somewhere were they were hijacking Amazon and Ebay sellers accounts that hadn't been used for awhile. They would list items very...

Your net position in SPY is flat and you are short the at the money straddle, when you look at both accounts together. You just get to pay extra commissions in your scenario. Good spread if the market doesn't move much, lots of risk if it does.

The mid price may not always represent fair value. I have seen many times where the displayed market may be 1 wide, say 10-11 and the "real" market may be 10.80 -11. I would also suggest directing the spread to the CBOE if possible. It seems their COB will generally give the best fills.