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That's ridiculous advice. The whole purpose of a limit order is not to pay more than you want to when buying or receive less than acceptable when selling. Is trying to save a few pennies really worth it??? If you do any kind of volume, a mere 5 cts per contract will really add up at the...

Overall, is IB better than OX? That's a personal conclusion based on the nature of your trading and what tools you need. If you're happy with OX, you shouldn't change brokers but by no means are they comparable commission wise.

You might wanna check with the compliance dept rather than a customer service girl :)

That's a +1 on getting ripped IB is 70 cts a contract (less if the option is 10 cts or 5 cts with free assignemnt and exercise). Minimum ticket is $1.00 If you do size, you may be better off at OptionHouse with their $8.95 ticket + 15 cts per contract (they have several commission...

I have found that oil and gold stocks have been ideal for this. I guess silver stocks too :)

Here's a link to an Optionetics article about Gamma Scalping with long straddles. It's not the gospel... just an intro to the idea of scalping. There are numerous ways to do it and like every strategy, there are subtle nuances to master before attempting it. Re this article, I'd go with...

I must have been dazed and confused when I typed this :) It should read: I DON'T mean to IMPLY that doing the above is a categorically better approach. If the underlying cooperates (as bouncy SLV did), it works.

I suggested gamma-ing on page 3 :D

A few days ago I suggested that you roll the calls down. I don't know what the various prices have been but the short 38 c's were probably near worthless and you could have gotten decent premium for say the 36c. In addition, your appreciated Jun puts could have been rolled down 2 pts as well...

I didn't mean to imply that they were one and the same. What I meant that adjusting the legs would have worked well. As a separate strategy, gamma scalping would also have worked well (for example, buy a long leg and scalp the UL against it, etc.).

FWIW, had you been adjusting the position with each reversal (rolling profitable legs), you'd have a decent profit in a mere few days. Gamma scalping would have been ideal.

Direction is the main course. IV is gravy. If you can reasonably predict a trading range, the most bang for the buck comes from the underlying or long options. The UL will give you $ for $ when right (or wrong). Long options have lower delta, time decay and potential IV issues. Since...

I don't know who the Black Swan authority is but Taleb referred to them as rare and unpredictible. His book's title was : "The Black Swan: The Impact of the Highly Improbable" not "The Black Swan: The Impact of the Never Before Seen Event." :)

Read the last paragraph of my last response. From that, can you figure out when shorting Citi would be appealing to me?

Buy $10 of lottery tickets a week and put the balance in some solid investments. If you can do 6% a year, in 20+ years you'll have a million dollar nest egg. And if you're like most ET traders, you'll get there in a fraction of that time :D

LOL. I wouldn't mind be paid big bucks for sharing worthless opinions :D Generally, reverse splits are done to avoid delisting or to make their shares look more valuable in order to attract institutional buyers who are prohibited from buying low priced stocks (I think <$5). Stocks...

Iin general, if earnings and balance sheet don't improve, reverse split is another shorting opportunity.

OP only plans on doing the .15/contract and skipping the $8.50 deal :D

Anything is possible. But is it probable that you can do it? :)

Sell 1 $2 put for 40 cts Short 100 shares @ $1.90 If YRCW below $2 at exp, assigned and cost basis is $1.60 Max gain of 30 cts below below $2 (-2.00 +.40 + 1.90) BE at $2.30 Unlimited loss above $2.30