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  1. rmorse

    Need advice...next steps???

    You are not bugging me at all. Happy to help when I can.
  2. rmorse

    Recommended Brokers

    I thought LiveVol Core was for analytics, not execution.
  3. rmorse

    Need advice...next steps???

    We have not because as a firm, we want to avoid recommending a strategy. We simply want to accommodate our clients within the perameters set by the clearing firm, and the risk that we are comfortable with. Also, selling options is very capital intensive. Eg, most CTAs use between 0% and 25% of...
  4. rmorse

    Ratio Back " CallSpread " ... Just a few questions

    I would not buy the ratio if it were a debit balance. I would want a small credit, so if the market is flat to up I make money or break even. I would want it vega positive though.
  5. rmorse

    Need advice...next steps???

    The reason why I ask is that if you only trade options on ES, it possible to have better results from trading SPX because SPX is 100X and ES is 50X the index. You have to trade 2X ES for the same income with more commissions. I'm happy to discuss you plans if you'd like to chat. I have a few...
  6. rmorse

    Need advice...next steps???

    Are you focusing on ES options or also trading other futures?
  7. rmorse

    Ratio Back " CallSpread " ... Just a few questions

    In my experience, I can make a case for +1 OTM call and -2 or -3 more OTM calls. Even though you are often buying an Ivol that is higher than the few that you are selling, if it's a credit and you believe that stock can't move up quickly, it can work well over time. The big risk is upside news...
  8. rmorse

    paper trading question

    Just so you know, market on close and market on open orders in options are very different from stock MOO and MOC. In stocks, you would choose the primary exchange and have some expectation of liquidity in stocks that do a fair amount of volume. With options, there is no primary exchange except...
  9. rmorse

    Ratio Back " CallSpread " ... Just a few questions

    I look at option trading differently. I like to come up with a thesis 1st. Vol is too high, too low, skew is wrong (for vol trading) or, I expect that the underlying will do X or not do Y. With that in hand and certain expectations, look for the options or combinations that gives me the best...
  10. rmorse

    Ratio Back " CallSpread " ... Just a few questions

    not really. It is likely that as the stock goes up, implied vol will decrease, reducing your profit. When you do these spreads, you need a quick move in the direction you are targeting. I feel they work better for bearish bets. Buy two puts OTM and sell one closer to the stock price. In general...
  11. rmorse

    Starting my own hedge fund

    Consistently profitable with appropriate draw downs. I say "appropriate", because if your net is 30%/year or 5%/year, the acceptable draw downs are different. Then your return will have a target market. Some will be looking for low risk, low leverage and 6%. Others will want 20%+ and be willing...
  12. rmorse

    What prop firms allow rebates to prop traders?

    Institutional brokers offer DMA too. I would say the "power" of the prop firm is allowing traders to get excess leverage with under $25K, where they can't even daytrade in a customer account.
  13. rmorse

    New Measure of Investor ‘Fear’ as CBOE Introduces Weekly VIX Products

    I think they will take a few weeks to catch on, but will do good volume. Yes, it would be better if they traded in less than $0.05 spread.
  14. rmorse

    What prop firms allow rebates to prop traders?

    It would be typical to pass through DMA charges and rebates.
  15. rmorse

    Starting my own hedge fund

    It is my understanding that margin on futures is determined by the exchange. They have one requirement from the customer and 8% of that is also required by the FCM. I don't think that requirement changes if the futures are traded by a customer, member of the exchange or an FCM. The exchanges are...
  16. rmorse

    Starting my own hedge fund

    One situation where you need to register with both the SEC and NFA is a CPO.
  17. rmorse

    Starting my own hedge fund

    My hedge fund client with the least AUM has $4mm with a track record going back to 2011. Not sure how much of that is their money. They are a new client and their returns are quite good. I have no idea what they net from their 2%/20% after expenses. I can tell you that if a good deal of those...
  18. rmorse

    ipo with common stock and warrent. what happens when ipo ends?

    It is my expectation, that if you own 1000 units before the IPO or get it with the IPO, that you will then see on your brokerage statement 1000 OPGN and 1000 OPGNW because the unit will not be listed. AS far as I can see, the is no OPDNU after.
  19. rmorse

    How long did it take you to become a **consistently** profitable trader?

    -6 months -while I was a wake, except weekends, I was learning.
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