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I've made money over the long haul and pay no attention to the greeks whatsoever. I have a solid understanding of Delta and of volatility and the effects on pricing. Aside from that, I have yet to read anywhere what is so important about this knowledge void that I have maintained all these...

My understanding is that the ES settlement price is determined by the "special opening" on Friday morning for the Mar/Jun/Sep/Dec expirations. The figure is often not available until later in the day, but you can put in a pretty good guess based on the opening. I assumed the YM worked the...

I guess the few guys who make markets decided they didn't like the look of today's market. We are back to 5 on each side, with many sides non-existant and super wide spreads. If Globex ever wants this damn thing to succeed and have some liquidity, they will need to hire some MMs. Having no...

FX, I had some YMs as well. Those were flushed out on Thursday night's IB statement and my account credited Friday morning. That part worked pretty well from where I sit.

It is confusing. I had some March 1110 (sold) puts that were safe based on the Friday opening settlement, yet in my account window, they continued to lose value all day Friday. The first time this happened, I didn't know what the hell to make of it.

You were the one thinking of hedging. I was just saying that June would work as well as March if you had anything that still needed to be hedged.

Mine are not moving. June would be a fine hedge. March will settle in cash over the weekend.

CBOE? I could be wrong but.... I didn't think the CBOE had anything to do with ES/SPX. The CME handles ES/SPX (futures contracts) as it is legally considered a commodity, not a security. The statement above talks about the "securities", which should be equities, narrow based indexes and a...

That is unbelievable. If it's true, I wonder if the Timber Hill guys who make markets are stuck with all their shares today too?

I think the pit will come to them. Eventually they will go electronic - maybe not completely at first but it will happen - and then IB will trade them. If I was a betting man, I'd say within 5 years.

ptunic, If you have the ability to keep from giving up any of the company, I would try that first. A lot depends on your performance, which can't really be known until you are further along. There are some decent seed companies but the bar is high early on for the little guy. There are a...

From my understanding, a "no action letter" is issued by a regulatory body when there is some confusion about whether something is permitted by that organization. The letter generally means that although some specific act is not expressly forbidden (or allowed) by rule, that the agency will...

nitro, What time did you try it? You don't get quotes during the day - I think within 15 mins of the pit opening. I asked about trading it and their reason was that since it was pit traded during day hours (and IB is all-electronic), that IB would not allow customers to enter into...

Right. You can see quotes but IB does not allow trading of the big contracts.

If any of you are starting to go through the process, I would highly recommend getting someone in the industry to help you if at all possible. Without someone truly on your side who represents you or is there to look out for your needs, you may get screwed through the whole process. The...

Good points Aaron. I expect to use these futures in coordination with other products, as a hedge mostly. A simple example might be long SPX puts and short the VIX, or vice versa. The ratio has to work out between the products, but that's basic math. I was disappointed that the VIX...

Andre, Quote.com was bought by Lycos a few years back. QCharts is the flagship product of the company. There are other offered products that allow programmers to customize various aspects of the data. Unfortunately, customer service is atrocious. They claim to be "consolidating...

QCharts is a piece of shit. They have giant 3 month holes in the data that they refuse to fix.

150 on both sides as we open. Nice. Back to normal.

I have not seen 5s out there before. Early makers will mark up with 10, 20 or even 33, then 150 when the market opens and spreads tighten. I see 5s now. Today will be interesting.