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As I said, it's a market maker's privilege. Not sure what you are proposing here. Mind elaborating or giving an example!?

That's the platform they are using to trade them.:D

You can't have simultaneous open orders on both sides of the market at the same time. Only market makers can do that, but since you are not a market maker you cannot do that.

When you have an expirationless option you can just sit back and relax for a couple of years!:D

Well, it's your system so you should be the one answering this question!

Yes, equity. Index and ETF options are till 4:15. Futures options - depends on which ones.

Thinkorswim has options, stocks, futures (not everything though, yet) and forex.

Of course it will, USD cancels out. The 3 pairs are held together by triangular arbitrage.

Worst case scenario is the stock not moving or not moving enough. VMW was more of an exception. In other words, strangles don't always work, cause the stocks don't always drop or rise by this much. Essentially, buying a strangle or straddle is a bet that the market is underpricing the move...

Thinkorswim has 2 charting packages within its platform, in-house and prophet.

I don't have to calculate it, I just look it up on my platform (i.e. analysis tool). 190 is assuming you pay 40 for the whole thing, as I mentioned intially. It has been said numerous times already, but I'll say it again, you are overcomplicating things, use KISS.

Well, at 36 or 34 the loss is still 190, so it's not like you got a point loss at 35 and profit everywhere else. As I mentioned earlier, slippage is a major factor on so many legs so it's a big question as to the superiority of this over a simple straddle/strangle.

I agree, just buy a 32.5/35 strangle and don't complicate things! Your cost is 2.35, so your b/e points are 30.15 and 37.35.

Just to add to what already has been said, if the stock expires at 35 then your butterly is at it's max loss, your call backspread is at it's max loss and your put backspread is at even/small loss depending on how much the debit/credit was. So overall you have a loss. Using mid prices as...

Delta-hedging doesn't, but gamma-hedging does, and if that fails then there's always vega-hedging. :)

And even if you do leg in, it is usually pointless cause then you have to deal with 2 assignments.

Well, my comment wasn't really meant for the retail trader, who can't use the box in this way, but in general for the big guys who can and do use it this way.

Box can be done on american style as well. The early exercise is an issue with ITM options not OTM! It's not almost impossible to caputre, it is impossible to capture cause by the time it gets to your retail platform it is already too late, let alone seeing and acting on it!

Book

What's up with all the "...."? Is it really that hard to write complete sentences!?