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Generally, the house is always on the other side. However, I heard that there were plans to list CFDs on the Australian Stock Exchange, which would mean that you no longer have to trade with the house.

Not that I'm aware of.

The big problem with those is credit risk! Unlike exchange-traded options, you are exposed to the counter-party (i.e. issuer - banks) risk with them.

yes, 9:30.

Well, technically options on ES are not index option but futures options or options on index futures. I'm talking about cash index options.

OEX is cash-settled, like all index options. You should really read the contract specs before trading a product.

The dividends are priced into the options. Also, don't forget that you have a cost of carry (an opportunity cost) when you are long the stock.

Unless you already own the stock for the long term, there's no point in buying it to create a collar, as you can achieve the exact same thing by buying a call vertical spread with the same strike prices.

Just click on "performance bonds" in the grey...ish box (in the middle of the screen which has the contract description) on that link, then click on "outright" next to "CME Interest Rate Futures" and then scroll down to 13-week T-bill. Initial is $405, maintenance is $300.

Not exactly 1 month, but still... http://www.cme.com/trading/prd/ir/13weektbills.html

Just use market prices.

The obvious way to determine your risk is, as it has been pointed out, just plug the trade into an option analyzer, but you can also do it by hand. Any position can be broken down into component positions, e.g. a normal iron condor is a call vertical and a put vertical, or a straddle and a...

Just because the VIX is up doesn't mean that the individual stocks' IVs are up as well!

The obvious example is a 1x2 ratio spread (buy 1, sell 2). The premium on the 2 shorts may not be enough to cover the long hence you have a net debit to open the position, but the max loss is unlimited (well, for calls it is unlimited, for puts it's substantial).

Looks like you are averaging down...

That's not necessarily an advantage!

No, you cannot!:D

There's no point in selling a call more than a year out, as it has been pointed out, time decay is non-existent, so for very little reward you assume all the risk. If you wanna accumulate stock then look at writing shorter term put options, and I wouldn't go out further than 45-60 days.

That I agree with.

For one, futures is a regulated and transparent market, spot forex is an unregulated OTC market. if your futures broker goes under your funds are safe, if your spot FX broker goes under you can kiss your funds goodbye. I give my vote to futures.