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Very few platforms allow you to view the COB. I know of two. So most traders will never "see" the order. If the NBBO on a spread is 1.00/1.10 and you bid 1.05 for 10. Your order will sit on the COB until either another customer that is a seller offering the spread at 1.05 OB. Or, the MM that...

Multileg orders are normally sent to the Complex Order Book (COB) at the exchange for execution. ISE, CBOE, NYSE AMEX and PHLX each have one. You either need another customer to do the other side of your order, or find a Market Maker that sees edge in the trade. These orders are NOT held to the...

Thanks.........

I believe indirectly they do. Those orders executed with price improvement are often related to an equity market maker paying for an order to be routed to them. Again, we are talking equities here, not options. With the money the brokers make from owning their routes and have that money flow...

I believe Bright's reference to sub pennies is for stock trading, not options. BTW, Bright trading is a prop firm that benefits from being able to buy on the bid and sell on the offer. Retail clients are more apt to enter market orders and benefit from sub penny executions in equities that occur...

Where did I mention sub pennies? I'm only trying to understand what he is asking about. The Box offers price improvement. I did not offer my opinion on if I thought it was a good idea or not. I honestly don't care. It's just another exchange to me.

I don't know if Etrade offers Customer Portfolio Margin. If they do, you'll need to be an experienced traders that understands options and risk of naked option selling, to qualify for a CPM account, even if you only trade equities. CPM with equities, will allow you to trade with a minimum 15%...

I don't know. I only know about the other one from the debt to equity notice back in March, with a May closing date.

What it means is that the broker, Penson Financial and Penson Futures has more cash than they need. The holding company that is represented by the stock, is having problems and has been looking for a strategic partner or an debt to equity swap. The debt to equity swap was scheduled to close...

Do you have enough funds for a customer portfolio margin account? It would help because you'd get more buying power. Where are you trading now? Bob

Except he is not at IB. He stated ThinkorSwim which is TD. Also, FYI, your not asking for a borrow. Your asking for a locate. The difference is that you're asking permission to short a stock that is NOT on the easy to borrow list. That way you can enter the order. You can buy it back later...

It sounds like they gave you a locate for an order not for the day, which is more typical. When you changed the order, you lost the locate. This is not typically the way locates are done at other firms.

Are you talking about the Price Improvement Period (PIP) auction? http://www.bostonoptions.com/pip_en

You should apply to all the true prop firms in the area, not ones which ask for deposits or the one that charge for training and go for it. Can't hurt. SMB is not a prop firm as far as I know, they are a training group for prop traders and make their money from charging for training. While...

No they won't. For the most part, online "discount" brokers will not let you have a margin event. Puts or calls don't make a difference. Some firm provide auto liquidation, some do it manually. I was long a calendar last week in my IRA at TD. The expiring option was an ITM GLD call. I asked...

Remove the volume of options that only trade at the CBOE like SPX, and you'll see that the CBOE is not the highest volume. More customer Order flow that you have access to trade with occurs on the ISE. the AMEX volume has a lot of broker cross volume of institutnal orders. pHLx also has a great...

Box volume is very low. Just over 4%. Other exchanges with make/take fee/rebate models are: ARCA, BATS, and NASQ. I'm not sure about C2 and PHLX. Remember, if you take liquidity on these three exchanges, it can get very expensive. NYSE ARCA does the most volume. Bob

The "before x-div" example is an early exercise. Your original question was "at expiration." I'm now not quite sure what your asking. Can you please rephrase the question? Bob

I've never heard of a circumstance where a Deep in the money option is not exercised. If you don't have the money for exercise, the clearance firm will liquidate your position on Friday. An options that just in the money is a crap shoot. If the stock moves over the strike after 4 pm, some might...

The OCC decides. May 29.