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thanks for all the tips. They'll be helpful in my studies.

Thanks, I'll check them out.

Maybe you work for my current broker in the customer service dept. Sure sounds like them.

I'm not, that's why I'm thinking of moving. The customer service reps can't give a direct answer most of the time.

I'm not looking for a holy grail. I'm just looking for an intelligent way to minimize the chances of being whipsawed to death. I mean, there has to be a stupid way to do this, and a smart way. I'm asking advice on how to do it the smart way. For e.g. I might choose to place a stop order a few...

I'm looking to transfer my stock investment acct (not for trading) to another broker. My current broker charges $7 per trade. I usually need to rebalance the portfolio once a year, so with 10 funds, that's $70. I'm hoping to cut this down if I can. Does anyone know of a decent broker with...

I'm working on a breakout system, and need some advice from experienced traders on stop order placement. The main problem I'm trying to solve now is to avoid getting whipsawed as far as I can. By getting whipsawed, I mean my stop order gets triggered, I go long/short (to open) X number of...

Yes, but I don't understand why this is? Unless you could somehow replace the 1150 put synthetically with the 1140 put when demand for the 1150 is increasing, what would be the purpose of upping the IV of the 1140? I'm not doubting that what you're saying is true, because I think it is...

These kinks happen quite often in /ES options. Just watch the skew curve for the front months for a few minutes and you'd probably be able to see them. How are the strikes fungible? Would love to hear how its done if you don't mind sharing. Thanks.

Thanks for the tip.

Thank you very much for the insight. This has definitely helped me to understand things from a MM's point of view.

(2) is done with the underlying I suppose? Do option market makers face typical short restrictions like the uptick rule and also the T+3 rule? For (5), I assume you're either buying sufficient ATM calls or puts and then doing (2) again when you're filled, is this correct? Thanks.

Yes I understand. However, I do not want to close out a position just because of temporary imbalances at certain strikes. I'm not trading very big, and yet these imbalances in the vol skew can typicallycan have an $800 - $1000 effect in my P/L. Great idea, yes I agree this is where I...

Figuring past adjustments isn't really a problem for me. However, my broker's portfolio page is dynamic and changes according to the vol skew so I still have the same problem. Even if it were static I suspect it would just take a snapshot at any given time (which is unreliable) and...

If you trade options, what method do you use to figure your current P/L? Especially for deciding when to cut your losses and close the trade out? For anyone trading spreads in the same month, any change in shape of the horizontal skew (between strikes) will affect your P/L, many times...

Hi May I know which broker offers the lowest commissions for /ES futures and options? Size is around 150 - 250 contracts for options each month (both ways). IB charges $1.42 for /ES options and $4.02 per round turn for futures, exchange fees included. Mirus charges $2.10 for futures per...

Thanks for the leads.

opt789, Thanks for the replies, they're really helpful. Speaking about the fair value for a spread, are you referring to the theoretical value? Or is it something else? Is there a tool or calculator that one can use to calculate this fair value, or how do you figure this out? I have a...

opt789, Would you say that most options orders that came into the pit would be: A) filled at mid-prices, or B) buy orders filled at ASK, sell orders filled at BID? What would be the percentage between A and B? Also, how often do you receive market orders from customers that come...

Great post opt789, thanks for sharing, those must be really interesting days. There's something I'm not quite clear on. I think there were no such thing as a spread orders in the old days? So nowadays, when a retail customer places a spread order, let's say a put credit spread, and the...