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It seems like you do as well, given that you posted that "Many exchanges charge fees to their members for orders that are cancelled or modified, and IB charges certain related fees to its customers to help cover these exchange fees." As you noted from the IB web site, "the Modify/Cancel fees...

I don't get all the carping about the cancel fees. If your style of trading (frequency, size, etc.) results in more net profit at IB, despite their cancel fees, you trade with them. If you can do better elsewhere, you trade there. Maximizing return is the game.

Selling add'l naked puts increases the exposure on one side and magnifies downside risk. Selling OTM naked calls or bearish call spreads adds it to the other side. He's not going to lose on both sides. Second, "scared" is a poor word choice. IOW, it's OK to sell naked puts and watch the UL...

Adjusting a position doesn't "fix" a losing trade. It usually involves limiting further loss or taking in add'l premium to lower your cost basis give you the ability to hold the position a bit longer, hoping for a recovery. If the underlying continues down, your loss will continue to accrue...

Active traders make all brokers happy. The broker may have a preference but he'll take a trader over a buy and holder any day. The 25k requirement is to avoid running afoul of the Pattern Day Trade rule. As far as you're concerned, does it really matter? Your objective is to make a nice...

It's a nice way to rack up some trading losses.

I ended up doing the 29p/30c double strangle. Covered the 29p's yesterday for cents and sold next week's 29p's today. I should have rolled the 30c's in when ORCL was over 31 but was out to lunch.

If the B/A spreads are wide and it's only a few days until expiration, I'd let a deep ITM spread ride. If there's a decent amt of time remaining and there's a chance of doing better in a nother position, close it. The safest playt is to always close and book maximum profit positions and...

Options give you the ability to tailor a risk graph to your liking. In general, to get something, you have to give up something -> trade offs.. So if you want to negate time decay, you have to sell some premium but more often than not, that 2nd leg may become a drag on your net. The problem...

Only on ET is it possible for a bad suggestion to be better than no suggestion. :)

I think you could do a better job of creating that by using Microsoft Paint.

AFAIK, a betetr play is to sell the weekly (straddle or strangle) and buy the same for the next expiry. Vol crush has a good chance of giving you an AM profit or ownership of next month's straddle/strangle at reduced cost. NKE has possibilities for tomorrow.

Trade options with $3 B/A spreads? Sheer genius!

Only buy those that don't decay (they're available on Yahoo Finance).

I'd respond in detail but given that you have no concept of how an apple is different than an orange, you're coconuts.

Long option positions for EAs are another crapshoot. If you want to play earnings in a lower risk fashion, look into ways of selling near term high IV and buying out month lower IV. OTOH, if out month is highly elevated, consider reverse calendars (G,D,R).

Apples and oranges. The other peep claimed that the trade has a 90% chance of success of making the max profit of 40% and I disagree with that optimism. You can cut your loss anywhere you want. That's not probability. That's money management.

Well, I'll give you the first two but I don't know about that Atticus comment :) :eek: :D

I think the two issues are mutually exclusive. You find the broker who provides the trading tools that you need and whose fee schedule best suits your frequency of trading. Then you concentrate on attaining your return. 2 G's is a lot to throw away.

Were you hitting the bid or asked or did you place a limit order on the respective orders?