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  1. Robert Morse

    who is a good trader

    A good trader has a process in place to make money consistently in relation to the risk taken. A good trader has a set of rules to trade by. If you only look at the profitability over a short period of time, anyone can get lucky.
  2. Robert Morse

    Contract specs for SPY options?

    BMK- In general, ajacobson has provided good information. I say in general, because it is 5am in NY and my "ADD" kicked in and I did not read all the posts. IMO, you are confusing marketing material with a required prospectus. The sponsor of each ETF has no control over if there are options and...
  3. Robert Morse

    Has anyone tried Das Trader, Sterling and RealTick EMS to compare

    Hi kbs- if you are in the EU, we can't offer futures. We can offer for equities and options Lightspeed Trader, Sterling Trader Pro and EZE EMS (Realtick). They are all fast and have hot keys/hot buttons. Our support team is great and if you choose me as your rep, you get me too...
  4. Robert Morse

    How difficult would it be to fill 500k SPX option contracts?

    Since I had problems finding any one option with an OI more than 50,000, I would say very hard to find 500,000 with or without a hedge with one order without moving the price a lot.
  5. Robert Morse

    Anyone successfully sober up and maintain/improve as a trader?

    I had to search for "a nice fat bowl of MJ", just to be on the same page. Trading is a business. You need to be focused while working, but also have downtime and get sleep. Best to have hobbies away from your bowl of MJ and trading.
  6. Robert Morse

    If I am doing option research at Fidelity or Schwab...Are they selling the information to someone??

    IMO, STOP orders often get "bad" fills because the price you pick is often a support or resistance point and there can be a large number of short term traders do the same. The Market Makers, often the only liquidity, pull their bids when there is a large supply, until it settles. No one is...
  7. Robert Morse

    If I am doing option research at Fidelity or Schwab...Are they selling the information to someone??

    I'm going to drop out of this conversation. You started a thread in the Option forum. Now you are pointing out insurance products. I'm lost. Nothing on this page makes sense to me. I can't help.
  8. Robert Morse

    If I am doing option research at Fidelity or Schwab...Are they selling the information to someone??

    No broker is going to share your movements online with anyone. The DMM has no idea what you are doing until you send an order. Even then, they are fully automated and do not care about any single small order.
  9. Robert Morse

    If I am doing option research at Fidelity or Schwab...Are they selling the information to someone??

    Are you asking about PFOF or something else? I do not really understand the question.
  10. Robert Morse

    1 to 2 years US Treasury Bond ETF...With good option money??

    I'm confused. What is your goal? You can get over 5% on a 1 year T-bill with no risk if held to maturity. T-bills can be used for Day trading as they can be margined at 90%. What are you trying to accomplish?
  11. Robert Morse

    Wild out of the money next day SPX put bids yesterday.

    Your broker clears APEX and goes by both their risk and APEX's rules. We use Wedbush. We shock broad based index positions with a 12% Price Shock / 25% Implied Vol Shock down and 10% Price Shock / 12% Implied Vol Shock up for risk purposes on PM accounts. This is subject to change.
  12. Robert Morse

    Wild out of the money next day SPX put bids yesterday.

    I used to see these often. The clearing brokers for MMs have strict risk rules and sometime look way down and shock vol. It sounds like some big firm had downside risk and needed to fix it. It cost less to buy that many $0.05 options than buy back a large number of $3 options. Just a guess.
  13. Robert Morse

    Stanley Druckenmiller's positions

    "The SEC's Form 13F is required for institutional investment managers who have at least $100 million in assets under management. The $100 million limit applies to all accounts over which the investment manager has authority."
  14. Robert Morse

    SIPC protection for cash

    T-bills are marginable, you earn interest, and they are not cash. To be honest, I get these questions more from accounts under $250,000 than I do from accounts over $2.5mm.
  15. Robert Morse

    Need a prop firm for US stock options

    What value do you find in a prop firm for simple option trading? Trading costs are generally higher and option do not require a lot of cash for directional trading.
  16. Robert Morse

    1099 question

    All I know is that futures are Market to Market 1256 contracts and for tax purposes, realized and unrealized are the same. You pay income tax on both.
  17. Robert Morse

    UVXY and its options

    I'm not an expert on taxes. In addition, my employer would not allow me to provide tax advise unless I was providing facts. This seems to be a gray area so the best I can do is refer you to the experts. I suggest you ask your broker if their 1099 vendor tags this symbol as 1256. That is your...
  18. Robert Morse

    UVXY and its options

    https://greentradertax.com/how-to-apply-lower-tax-rates-to-volatility-options/
  19. Robert Morse

    Two Questions

    On the buy side, the debit Ballance of the trade can’t exceed your equity. For the credit spread, the value of worst case loss is the margin required for your equity. If a 5 point spread trades at $3.00, your debit spread will cost $3*100*number of spreads not including fees. On the sell side...
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