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  1. Robert Morse

    What are "options on futures"?

    Thank you MACD. Options on equities are very simple. In most cases they are for 100 Shares and every month is based on the same symbol. In the USA, equity options are all American Style, and the delivery are shares of stock. (Yes, I know that cash settled indexes are different) Options on...
  2. Robert Morse

    What are "options on futures"?

    https://www.cmegroup.com/education/courses/introduction-to-options.html#
  3. Robert Morse

    To qualify for "Mark to Market" Daytrader status...?

    https://www.irs.gov/pub/irs-pdf/f6781.pdf - Skim through pages 2-4.
  4. Robert Morse

    To qualify for "Mark to Market" Daytrader status...?

    In the USA, for the IRS, Futures are only MTM. They do not give a choice with any 1256 Contract.
  5. Robert Morse

    To qualify for "Mark to Market" Daytrader status...?

    Futures are 1256 contracts with MTM accounting and no wash sales. What benefit would you get out of contacting the IRS for MTM accounting?
  6. Robert Morse

    Expensive or cheap option chains

    It is not easy or great for a retail trader, but this would help. https://www.livevol.com/online-market-scanning-and-analysis-software/ Lightspeed Financial Services Group LLC. is not affiliated with this service providers. Data, information, and material (“content”) is provided for...
  7. Robert Morse

    Expensive or cheap option chains

    Well they claim to. You will never know that until the future passes. All we can do is compare current implied vol with other similar symbols and the past. Assuming that current premiums are expensive or cheap is saying that Market Makers are wrong. Very hard to do that constantly and be right.
  8. Robert Morse

    Any American trading outside of the US ?

    You can open a Day Trading Margin account with us.
  9. Robert Morse

    Fastest Market Data Vendor

    Maybe call me one day. I've spent enough time off topic for the question at hand. "Fastest Market Data Vendor?"
  10. Robert Morse

    Fastest Market Data Vendor

    The NYSE offers a non-documented exemption for a non-pro user with one ID and one account number. OPRA offers a similar exemptions but as far as I know NASDAQ does not. For OPRA, you also have to be a priority customer, not just non-pro subscriber. The problem is more complicated than that. You...
  11. Robert Morse

    Fastest Market Data Vendor

    Are you sure IB API pass through market data is real time streaming and the only delay is normalizing? Ask them. They use a technique they call "snapshot". There is nothing wrong with it except they use that to avoid non-display fees and it is not real time tick by tick data...
  12. Robert Morse

    Fastest Market Data Vendor

    Mazedonia- I try my best to provide accurate information and adding links helps me show that the majority of my posts are not my opinion. I'm not sure what purpose it serves for you to convey that non-display fees are not real because you know data providers that are non-compliant. The owners of...
  13. Robert Morse

    Spx options(weekly) vs. ES

    Their option values are tied, or there would be an arb.
  14. Robert Morse

    Fastest Market Data Vendor

    The SIP feeds (Exchanges) want to charge these higher fees when the Realtime data is consumed without a display. Any open API where data pass through is subject to them. Some of the large brokers and Bloomberg have been fighting them. We had to stop. The typical argument is what is Realtime...
  15. Robert Morse

    Spx options(weekly) vs. ES

    That depends on your broker and what they require for risk and margin. Also, cost can vary from broker to broker. I like it that ES has longer trading hours but I find many traders make poor decisions in the middle of the night. Trading during liquid hours with more information might be preferred.
  16. Robert Morse

    Fastest Market Data Vendor

    https://www.orats.com/ is a sponsor on ET. You can reach out to them also. Lightspeed Financial Services Group LLC. is not affiliated with this service providers. Data, information, and material (“content”) is provided for informational purposes only. This content neither is, nor should be...
  17. Robert Morse

    Fastest Market Data Vendor

    To get an ultra fast feed, you will need to be hosted and pay non-display fees which are very expensive. You can also try and contact the CBOE and ask what they sell direct to the public without a vendor. On a sidenote, it’s not clear to me that the indexes are distributed tick by tick. As an...
  18. Robert Morse

    Options auto-liquidation times

    Adude81-At Lightspeed we do not have auto-liquidation. Any liquidation is done by the Risk Team manually. In most cases the Risk Team tries to contact the client first, except in the case of a large loss where the client is close to going negative. Active communication is key.
  19. Robert Morse

    Broker with possibility to short warrants

    Email me a short list of symbols and I can check for you Monday.
  20. Robert Morse

    Think I'll Get Called Away?

    A covered calls is a synthetic short put. If I'm the long call and I exercise a long March 87.50 call, I end up long stock and keep the dividend. But now to replicate what I had before, I need to buy a 87.50 put, which cost more than the dividend. Then the buyer has a synthetic long call. In...
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