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Why Bank of NY Mellon? Is this Spot FX?

You are a beginning option trader and have the expectation of earning 4%/month with only buying options? You have set your goals VERY high.

I assumed your question was about scalping options in a customer account. If you want to build your own trading system for market making and connect directly to an option exchange as a member, that is a very difficult task. I'm going to continue to assume you mean in a customer account. Many...

Yes to will be able to open an account. For a regular margin account, Reg-T, they don't normally do credit checks. There is a know your customer rule that requires them to ask a few questions about you and your situation, but they won't care about your income or job. They might care about source...

Paying less for exchange fees does not mean a better execution. If the stock moves enough against you, you will get a fill on any exchange. However if you want to buy on the bid, while others are still bidding, you have a better chance on exchanges that pay for customer Order flow, rather than...

Also, IB does not allow two sided markets on any exchange. Makes scalping harder. Bob

If I'm long 1 call at expiration that is ITM, and I exercise, someone that is short 1 option will deliver 100 shares to my broker. If they are long, they delivery 100 shares of long stock. If they are not long, they delivery 100 shares of short stock and their brokers must go out and borrow the...

Blade, do you have an account at Advantage, looking to add TT?

They mark up the cost of platforms. I believe they charge $1400/month but TT only charges $1200. (Plus Market Data)

From what you have told me, the only way to avoid your issue is to avoid GTC orders, and re-enter them each day. It's not like regular GTC order where you might keep your place on the book, Stop are held on their server not an exchange.

Then that sounds like their policy. If I had to guess, I would say most order routers are turned on at 8 AM EST. either way, it will be canceled prior to the opening.

Complicated. You need to check their websites for exceptions, but I believe Amex and Phlx are free for customer orders, if they are not re-routed. If you take an offer on these exchanges and the offer is there, it would be free. If you want to add liquidity, you might choose an exchange that...

I'm not sure what platform you are on or who your broker is, but it sounds like their order router to the exchange is not enabled until that time. Every broker uses a different time. Until then, your request stays on their server. Btw, what is AH?

Yes, each exchange has a different model. Some are free. Some charge for taking liquidity and provide a rebate for adding liquidity. On those exchanges, the rebate/fee can change from options trading in pennies to options that trade in nickels. Then they can also have symbols that offer higher...

You can try this tool. http://www.chaikinpowertools.com/ If you are intersted, email me and I'll send you someone's contact information that works there. He can explain the product and offer you a free trial. Bob

FSU, It makes sense that there is no offset for option spreads for DT calculations. Margin is risk based not DT. Your option DT calculations are correct. Bob

Prime Brokers in general, require AUM of at least $1M to do trades away from their systems (Some require more). After that, it is relationship based. If we provide the floor broker with enough volume from other clients, they will accept smaller orders. The smaller the order, the less time and...

I prefer a simple option ticket that sends my order to the Complex Order book on the Option exchange or if you have access, the use of a broker to shop your order to other clients.

Q1, what asset class are you asking about? There are liquidity providers in every asset class. Some are broker dealers, some are not. It depends on what you are trading. Q2, I don't believe trading is a zero sum game. You can make money on your trade and so can the counter party. Your trade...

thx