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Why complicate things with a futures contract? It's a simple long call vertical, just buy the 60 call and sell the 65 call to achieve the same thing.

Without going thru the numbers my guess would be that the premium is too low, and hence your reason for going that far out. Still what's the point of entering a trade and essentially not getting compensated for the next 400 days? Personally I would go front or second month with a narrower...

What's the point of selling an iron condor with 450 days to expiration!? Time decay is virtually zero for the next 400 days. Mind explaining your logic behind this trade?

They were all adjusted so don't panic. See here for the contract adjustment note from CBOE.

That's the nature of the vertical spread, it needs time decay to widen out. There's no adjustment that would magically give you 3.7 instead of 2.

What other fees?

Yes, they are the same company. MF Global Futures is for private clients as it says on the website under the company name. My guess is that even if you go to the MF Global website, it will eventually direct you to the other one.

It's not a jelly roll, it's a long call calendar spread. The first and the third cancel each other out and you are left with a short Nov call and long Dec call. Next time proof read before posting.

You would also carry the risk of not being able to deliver if they discontinue snickers production. :D To hedge that I would specify that any candy bar can be delivered or if you wanna be specific then list the candy bars that are acceptable. Sort of like cheapest to deliver candy. :)

Don't get me wrong, but have you actually read your own post? It's absolutely impossible to determine what you are asking! Looking at the SPX, the top one is an unbalanced IC as the put strikes are 10 points wide and the calls are 5 points, which means you have greater risk to the downside...

Selling a strangle is a volatility bet, so if you are concerned about being wrong to the point of needing a hedge then why did you trade it in the first place!?

For taxes you have the tax tool, which is located under the "Monitor" tab => "Account Statement" and then there's a "tax tools" button in the top right-hand corner.

The problem is hindsight. It is very easy to see now, which crash was the blowout kind and which one wasn't. It is a completely different thing when you are in a position and the crash is taking place.

Yes, I agree.

There's no such thing as a rule of thumb.

Illegal is not the correct word. There's nothing illegal about selling naked puts, in fact it's very legal to do so. I would be very surprised if any broker would actually use the word illegal. Selling naked puts does carry a high level of risk. Here are some Google search results that...

Yes, I heard about it.

It was meant to be a joke, but, as you have pointed out, it's actually true. Well, unless you don't pay tax in the US.

No, the premium goes into a special fund that Goldman Sachs and the like use to pay out bonuses. :D (Sorry, I couldn't resist. ) On a more serious note, yes, you keep the premium.

A collar is not a "conservative" call spread, it is a call spread. It's the same thing. With a debit spread, or credit spread for that matter, you don't have to worry about the greeks more than you have to worry about them in a collar. If the stock stays put then your loss in a collar is...