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this is promising... can you show one of an spx leap? i.e. something that is less liquid. i'd like to see if it just showing the traded Hi-Lo, or if it is the bid ask of the option for the entire day. Ideally, over the last 5 days... thanks!

thanks for this. Very helpful. It reminded me that I'm not always trading against a singular entity. In the past, I would stop inching up my price because I didn't want to get string-ed along (price baiting), but really, it is about what i'm willing to buy/sell the security at. If there are...

Yeah, lots of money to be made trading the channels. I've sharpened my charting skills because of this current market. I got sloppy and out of some of my previous habits.

I would say price and volume. Current rally has lacked volume, therefore I am more cautious. That said the last couple of days have been a little better. Still more conviction needed imo. There's what I want to happen, and what I am prepared for happening...

thanks for the insight! For things like SPY i've noticed that sometimes I get a mid-fill or sometimes better (slightly closer to bid). other times, it's mid plus (closer to the ask). That was the case today... any reason why there is that discrepancy? I trade small lots...

i hear ya... MM and their games. I track the b-a of holdings via snapshots so that I can get a better sense of fair value. anybody know of a software that shows/graphs the historic bid-asks for an option?

my observations with spreads like these, is that they will tighten throughout the day. by the last couple of hours, they are tighter and more 'normal'.

Hi, This might be a Q for the former MMs... how much (if at all) does open interest affect the pricing of an option? i.e. if i'm looking at 2 similar similar strikes, but one has more OI than the other, will the higher OI have narrower spreads, and does the MM price it tighter? In particular...

So... Would converting the position to a strangle have helped protect their position? I. E sell naked puts.

Well.. . My guess this is another example of saying one thing and doing a different thing. I can't imagine that if he was applying all of these risk rules in his trading that this would have happened. More likely, one bad trade begot another begot another, etc... Human folly. Pride, fear, greed...

I agree with you. The move was strong but there seemed to be plenty of time to make adjustments. Especially easier to cut losses because it's not his money. Or maybe that she video is so remorseful. It will be interesting to see what unfolds. If it gets exposed to the public... The big news is...

Don't most brokers have margin requirements to enter a naked position? IB has pretty high margin requirements to sell calls or puts for example. Ie cash on hand to be able to sell a call or put. Even with a strong move, wouldn't they be forced to close the position and still have some cash on...

ouch!!! Feel for the clients in this one. As a learning trader, I feel there is lots to learn from this experience. Q... why couldn't the hedge fund hedge the position? I understand they were naked premium sellers. Couldn't they convert their naked put to short strangle? Or close the...

I'm not looking for different, or the same. I just read the markets and do my assessment on a day to day, week to week basis. I'm not stuck on my assessments because my assessment may change tomorrow. Just make the best possible trade given the current situation. =)

Yep... It was sunny on Oct 3rd 2000, it also sunny on sep 15th 2007. On both days the clouds were exceptionally fluffy. Yesterday, it was also sunny and the clouds were fluffy. In fact, they were even more fluffier today than in those two days. Beware of the days when it is sunny with fluffy...

I It's a business. You want to make money, the market maker also wants to make money. When you put yourself in the shoes of the mm, then you can appreciate the mm's perspective. Mm advantages is the spread and book data, their disadvantage is that they have to provide liquidity or quotes. Your...

T Thanks for the detailed response. It would be nice to understand some general parameters as to how they do it, but that's not IB's style or MO.

I'm almost not that surprised. I had the sense that the algos were more marketing than actually effective. I have even found their limit orders slower than other brokerages. Ie. Two lmt orders but IB was slower to fill. Its happened a few times now so I don't think k it is a coincidence. Makes...

Isn't patient and market orders a bit of a contradiction?

Hi, I've googled and Searched on it but haven't found anything of substance besides marketing on how it works, and how it is supposed to be more effective. But is it really? What have been ppl's experience of IB's adaptive algo? Have you found it improved your trades on the stock side, or...