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  1. Robert Morse

    Find the IV for this...

    This is about as far as I'm willing to go in a public forum. The Nov 7.5 calls were at 0.05. So there all the strikes above that. I would not go more than 3 strikes that are basically worthless and do any meaningful calculation. Because of put/call parity, those puts are worth parity. The IV of...
  2. Robert Morse

    Find the IV for this...

    I see you changed the Strike to 100. It has no Implied vol. The call has no premium and if the stock were to move in a normal distribution, it still would not.
  3. Robert Morse

    Find the IV for this...

    That is the 100 strike, not the 67.50. What is the purpose of looking at at Strike above those that are 100D? these is no value to this.
  4. Robert Morse

    Find the IV for this...

    Please tell me you know this makes no sense either. You can't have a price of $95.30 with a put Strike of $67.50. For your next example, any DTIM put with little time left is trading at parity unless there is a dividend, and the IV is not relevant with no time premium. It is a random value that...
  5. Robert Morse

    Find the IV for this...

    Your example makes no sense. If the stock price is 100 and the strike price is 225, the options is 125 ITM, how can the put be $10? Here you go - https://www.optionseducation.org/toolsoptionquotes/optionscalculator
  6. Robert Morse

    Why is every single merill lynch employee

    My first job after graduating from NYU. Summer of 1982.
  7. Robert Morse

    Why do options have only 2 decimals?

    No, because there are other factors with derivatives. Are you saying you prefer 1.0590x1.0592 1 x 1 or 1.05x1.06 100x100? That is just one result of this. The other is the ability to for a MM to step in front of you by $0.0001 and you do not get to buy on the bid or sell on the offer until the...
  8. Robert Morse

    Why do options have only 2 decimals?

    rb7 - I agree.
  9. Robert Morse

    Ant brokers allow SVXY on Portfolio Margin?

    Allow yes, at what margin rate, not sure. If you send me a sample portfolio to my email, I can check.
  10. Robert Morse

    Why do options have only 2 decimals?

    It does not work well with stocks, IMO. We only offer that is stocks under $1.00. You bid $0.6501 for 2000 shares, a sell order comes into an equity Market maker, he can pay $0.6502 and shut you out. The same can happen in options.
  11. Robert Morse

    Why do options have only 2 decimals?

    You want 16 options exchanges and option markets quoted out 4 decimal places? With the current fractured markets, it is hard enough to buy on the bid and sell on the offer with your order on one exchange while it can trade on another. Adding 3-4 decimal places would make it even easier to trade...
  12. Robert Morse

    Is Apex Pro clearing firm so bad as Apex ?

    ELECTRONIC TRANSACTION CLEARING, INC. (ETC) https://brokercheck.finra.org/firm/summary/146122 was bought by APEX. https://brokercheck.finra.org/firm/summary/13071
  13. Robert Morse

    Do day trading firms still exist?

    It does not “circumvent” the PDT rule. The PDT rule only applies to customer accounts and the prop firms you are speaking of are Firm/BD owned with net Capital exceeding $1mm. Yes, there are a few left for equities. How long does the average trader last with first loss money of $10k and heavy...
  14. Robert Morse

    Prop Trading Business Model

    Laissez Faire, that is an interesting comment. I'd like to expand on that. The value many years ago when these prop firms where hot, in most cases, not all, of the JBO prop firm was to get good leverage, with a small deposit and get a K1 that offered taxes based on 60/40 (Long term/Short term)...
  15. Robert Morse

    What Traders Can Expect After Earnings Season-By: Wayne Duggan

    https://www.lightspeed.com/active-trading-blog/what-traders-can-expect-after-earnings-season/ The third-quarter earnings season is off to a very strong start, and it seems at this point that traders concerned about a disappointing quarter can breathe a sigh of relief. Assuming the remainder of...
  16. Robert Morse

    Prop Trading Business Model

    RedSun - A Prop firm is a trading operation that can be either regulated or unregulated. An unregulated prop firm uses partner's capital to make money by trading. They can hire employees to trade, but they are employees. They can't take trader money as first loss and mark up anything for profit...
  17. Robert Morse

    Best order execution Algorithm

    First let me say that I would not consider 60 seconds as time to fill as fast, unless it is a very illiquid small cap stock. Market impact will get very costly with larger orders and can cost more than taking liquidity. IMO, large VWAP and TWAP orders can be "seen" by HFT because the child...
  18. Robert Morse

    Best order execution Algorithm

    It would help to know some more information. How time sensitive is the order entry? How large are your orders vs the typical liquidity in the market? Time sensitive orders have to prioritize getting in or getting out quickly while large orders have to consider market impact.
  19. Robert Morse

    SPX fees at Fidelity

    On our website, before any volume discounts, using Lightspeed Trader, the commissions is $0.60/Option, min $1. If your order is for an .SPX options, at trade we will charge you an additional $0.62/options for a total of $1.22. This does not include the Reg fees (ORF, SEC and TAF) but does...
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