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When I look at the implied vol of the puts and calls on the same strikes, I do not see any material difference.

My 2 cents on "free" vs a service like Lightspeed. The free offerings are mostly sending your order to an equity market maker. You typically lose the flexibility to enter certain order types like midpoint peg, hide part of my order, dark pools, VWAP/TWAP, pre, and post-market access etc. You...

Would you like to give me a quick call?

The more in the money, the better the chance. The basic formula is that if the value of the dividend exceeds the put value on that strike including the cost of carrying the stock, most MMs would exercise for the divided. Being long stock and long the put has more value than long call with the...

A conversion is a delta neutral spread. Buy Stock, Buy Puts, Sell calls. If you can do that at prices that make sense without the dividend and there is one, and the short call is not assigned early, you will profit from the divided.

:D

You're asking how a smart routed order will work when all smart routes are built differently. If you have access to route your order without a smart route, and the above are the only offers in the world, REG-NMS would demand an order sent to ARCA to route out to EDGX for the 100 shares at 4.95...

It would be best to check with your broker on what will trigger the stop and the "if touched?" Does it require a trade at that price or below? In general, they sound the same but in the case of a market of 16.00x16.01, 15.99X16.01 and 15.99x16.00 if there is no sale at 16 or lower, how will they...

El OchoCinco-I think you live in Colorado based on your profile. I can't find an exemption if your place of business is in your state. They have one if you do business with a few residents but your place of business is not in Colorado...

Unless the State you do business in has an exemption. NYS has one for a small number of accounts as described in the link I provided.

https://ag.ny.gov/investment-advisers-faqs

I can't provide legal advice, only what our process is. The owner of the account must open the account. The owner then signs a Limited Power of Attorney (LPA). That document has information about you and with your ID, it is then processed to allow you to trade. The keyword is "Limited". The LPA...

The only reg fees I'm aware of for equities that are passed through to the customer are SEC and TAF.

That hurt my head to read. I have no idea if that is correct if you are looking for the total cost. You will have to pay your commissions rate per share or per trade, a routing fee if any, and SEC Section 31 and TAF on sell orders. The Reg fees change often.

There is a lot here and I want my response to be general and not targeting why any particular broker does anything, as I do not want to speak for them. PFOF for opening and closing orders, if those orders are sent to the primary exchange to be part of the opening and closing auction, is not...

Yes, I'm sure. Getting pricing improvement so an equity market maker can jump in front of a customer order after you enter your order in round numbers is not the same as entering an order going out 4 decimal places. Some penny stocks allow sub-penny orders but not over10 dollars...

buy 100 stocks for 10.0101 is not a legal order.

Maverick2608-NASDAQ charges a flat fee for the OPEN and CLOSE. There is no rebate. The charge is $0.0015/share.

luisHK, Yes. Our starting rate is either $4.50/Trade (Max order size of 10,000 shares) or $0.0045/share, min $1 on Lightspeed Sterling Trader Pro or Silexx (PMA only). On Realtick the standard minimum is $3 but the same choices of per share or per trade. Then you choose your route and are...