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Say that a SPY butterfly has a midpoint of 0.94. Would it be reasonable to ask for a 9.4 fill on the same butterfly on SPX at the same strikes (x10)? Is this a good way to determine what might be the fair price on an SPX spread?

Thank for the advice. Does this apply to only the negative marks or to all of the marks? Are the changes in the midpoints of the positive marks real? Something's got to be real to know what midpoint to enter.

I couldn't find very much info on this online. The TOS demo, which is supposed to have a 20 minute delay feed, occasionally shows SPX spreads that have a negative midpoint value. What is the reason for this?

Exaggeration, but they quote some negative midpoints fairly often.

They claim to have real market quotes but with a 20 minute delay. Some of the SPX spread midpoints, according to their platform, can be -1.00 or more at times. What gives with that?

I figured that. I doubt I'd get filled on real butterflies for .00. Is that even possible? If it is, I'd just sit there all day buying them. I don't know if I'd want to hold positions more than one day if I'm day trading. It would really piss me off if a position hit a sweet spot and I couldn't...

It's good advice, thanks. I don't think anyone owes me anything. If I want to day trade I have to wait till a spec house sells so I can plow in 25K (screw the gov. and its silly rules for us babies who can't take care of our own money). Until then I just have to demo or practice with longer term...

I thought this was a site to share ideas. If these posts annoy you then LEAVE! You were a beginner once too smart ass.

Of course. That's why I'm not trading real money at this time. I would probably stay away from the SPX altogether because of the wide spreads. I don't trust the P/L graphs on TOS but I did notice something alarming. The profit/loss line on one of the demo spreads I had bought had actually risen...

Don't you have anything better to do than troll the posts of a beginning trader? Since you're such a geenyus, wouldn't your time be better spent making millions and millions of dollars from your completely original strategies?

Beginning balance margin account this morning: 100K. Current balance, $103,950. Beginning balance IRA account this morning: $106,579. Current balance, $113,761.

Some of these trades I went very far off the midpoint toward the natural to close out profitable trades quickly. Is this how SPX day trading really works? Do the prices really jump around that much from second to second?

I'm a newbie and just stepped into the chaos of SPX trading on my TOS demo. I just increased both the normal and the IRA account (they give you 2 accounts with 100K of play money in each) by several thousand dollars each in a matter of 2 hours selling and buying April 10/20/10 1 strike...

I'm just running through all the normal strategies like most beginning traders in order to see their flaws/benefits. The only benefit to this strategy would be the astronomically high odds, like a lottery, for the index moving down 100 to 150 points in 8 days (I know it happens) and landing...

Good for you. Since you have nothing to contribute to this particular thread, goodbye.

Vague, but helpful. Thanks.

I'm sure you invented your own strategy, right?

Got any suggestions?

Nice description, but I would think the person on the other side of the trade probably left it long before his position collapsed and parts of the trade where taken on by other people with different strategies.

Concerning SPX Going off the logic that lottery ticket buyers lose and lottery ticket sellers win, selling deep OTM SPX butterflies and condors seems attractive - at least on a demo account. But how practical is this in reality? Looking at the spreads on the chains, most of them have...