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What was the return on that bad boy??:)

Looks like a straight strangle sell to me,or should I say the risk equivalent. Nothing new here

So you are selling the "guts" of a box??

I have been running Tos and IB sided by side for about a week now. I like alot of things about TOS,but my major concern is their execution/routing of spreads. IB appears to be far superior in that regard... If you split a market in TOS, the order is sent to the exchange with the highest...

FWIW,I traded with IB and decided to set up an account with TOS as I am tired of paying 6 bucks on butterflys over at IB..But here is what i found,and if I am wrong,happy to be corrected. If you are trading a spread,TOS routes the order to the exchange with the highest bid/lowest offer..Great if...

I am not following your ITM and Margin theory... Are you suggesting I can buy a deep call,short stock and have a riskless arbitrage?? Are you suggesting that if your broker is jacking you on their margin rate,it may be better to buy a deep call with a "lower imbedded" interest rate? Extrinsic...

And why would that be true? Sounds like someone is a punter and loves his wings:) 100 dollar stock,you are suggesting that intrinsic value< 1 (1%)for any option selected for a directional bet? So basically its ATM and higher (in the case of a call???) And this is a blanket statement...

Good questions..... Im going to start by answering your questions in more of a floor trader/directional traders method of looking at Butterflys and keep it simple.Lets assume that you do not hedge out the Delta of your chosen butterfly and keep it a straight directional bet...Of course the price...

You are strictly thinking of trading ones account,however big or small... At his stage of development,he should be learning all he can,reading all he can,designing systems and trading as small as he can....having an income at this point in his development is well advised. Taking down loans at...

Also,IB cash sweep is apx 100 basis points higher than TOS... Im running IB and TOS simultaneously to check execution fills.. What's NBBO and PFOF??

EOD doesnt work???? That's a bit of a stretch. If he kept his job,he could have self funded his trading,developed systems,and learned as much as he could without tying a 24 percent noose around his neck. I love a good success story,but he's taking the wrong approach..

One more thing I just found out over at TOS..They dont charge anything(tiny fee)for closing options under .05....I was charged as much as 1.50 over at IB..And no,I do not work for TOS:)

That was my issue as I am predominantly a SPY trader,and most of the time a spread trader.. I did notice that on some equities,I was charged alot less,even when lifting offers..What really pissed me off was buying .03 SPY options to close and getting hit with 1.25 all in.. IMHO,dicking around...

What I also found odd (and annoying) is I would also cancel my bid to see if the seller would come down,and if he didnt,I would resubmit my bid at the same price and suddenly get filled but at a 1.50 per contract..I believed I was supplying liquidity,but got charged as if I was not

Because I am a weiner and was trying to trade spreads for less than 1.50 per contract :)

More often than not when I bid on a spread,the "seller" (offer)typically does not hit my bid.But as soon as I pull my bid,the the offer is immediately lowered to the level I was bidding.. If the market is 17 bid at 20,and I bid 19,I am rarely filled.As soon as I cancel my bid(or lower it) the...

now that would be fun to manipulate:)

Are you sure about an option ticket being a ticket for an amusement ride? Only if you can easily digest the option going to zero..Sure,buy 10 40 cent options and walk away..Buy 1 AMZN 6(apx) month ATM call for 145 dollars,and I am guessing your view changes a bit..Yes,we are talking position...

.25-.75 per contract was never my all in price with IB.Much closer to 1.15 and every dam time I traded some 4 legged monster I wound up paying close to 6.00... Yes,if I supplied liquidity I would usually get cheaper rates on spreads,but that's a double edge sword as no one would hit my bid,and...

Ravar says things which defy the laws of options and then throws out nice fancy terms as a distraction. Non correlated assets,periodicity,teaching spreads before single legs??? Keep it simple...You bring up trading directionally and vol contraction being a good thing. What does having a strong...