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I like to trade the iShares Silver Trust (SLV) but I find there are too few strikes. The UI trades in the $10.00 to $12.00 range, yet there are strikes only every dollar. It would seem to me that strikes every $0.50 would provide a lot more precision and flexibility. The difference between...

As I say, I am not slagging off the broker, which is E*Trade. I am, however, surprised that everything is manual when it comes to spread trading. I thought all this stuff was electronic, thus the name "E*Trade". I have to phone in every spread order, and they post all the transactions...

I've been trading for two months now. Net-net I've made some money, but mostly I'm on a steep learning curve about the mechanics, mathematics, psychology and pitfalls of options trading. My lesson this month, among others, is that brokers make mistakes. My broker has managed to do the...

Everything by Mark Wolfinger. Practical, plain language, conservative introductory texts. If it turns out you are a brilliant mathematician, there are tons of more technical tomes, but these will get you started.

I am trading mining stocks, precious metal ETF's and derivatives. I am working from Canada and there are tax and FX advantages to working in CDN dollars on a Canadian exchange. I tend to choose instruments that trade both on the Toronto Exchange and in NY. I can trade the options on these...

Can anyone recommend base metal (specifically copper and nickel) or base metal index ETF's? I have found COPA (London) and DBB from Powershares. Any others?

I'm sure he wouldn't mind. With acknowledement to Peter Hoadley, here is what he said: "The Open Positions Manager is mean for end of day valuation of an option portfolio. It values each option using an IV which you enter manually and the underlying asset price (which you can enter...

Never mind. Peter Hoadley very patiently wrote me a detailed and very helpful answer to this rather dumb question.

I have started using the tool set from Peter Hoadley. I bought the whole package and I love it. I do have a question. On the "Positions" sheet in the OpenPositions workbook the current option price is a calculated number. In order to force the number to the actual trading price at the...

Right. What MTE said. I meant to say that. Really.

OK. Newby question warning!! What price is smart to use when valuing an existing position? The most recent trade is easiest, but in a spread it seems more realistic to use the Ask for the legs where the position is long and the Bid where the position is short since these are probably closer...

Does anyone know a good instrument with lots of liquidity for trading the USD? Powershares US dollar bullish (UUP) and US dollar bearish (UDN) are good ETF's but there seems to be almost no action in options in these funds.

Thanks. When I say "by Black-Scholes standards" I am referring to the fact that E*Trade calculates a "theoretical value" on their options analysis page. I admit I don't really know how they calculate this number, but I assume it is based on actual or historical volatility.

I understand a calendar spread: same strike with different expiry. I understand a bull spread: same expiry with different strikes. Why wouldn't I combine the two? Why wouldn't I, for instance, buy the GLD January 80 and sell the GLD December 85? in a ratio to produce a delta neutral situation?

OK I'm a newby. Let's start with that. My question is: If options premiums are high by Black-Scholes standards (see GLD for virtually any strike or expiry) do I really care if I'm putting on a calendar spread since both legs of the spread are high. If I'm "overpaying" for the Call is the...

When looking up a November 08 $36.00 Call for Agnico Eagle (AEM) on E*Trade the listing comes up like this: "Agnico-Eagle Mines Ltd WRAP AEY.KO Option" Note that the ticker "AEM" has changed to "AEY" and the word "WRAP" appears

When looking at the options for various gold mining companies I notice that some have the term WRAP appended. Also the ticker for these changes. For example AEM for Agnico Eagle becomes AEY and the option is called a WRAP. What does this mean?