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falconview
Registered: Jun 2010
Posts: 1465 |
04-30-12 02:15 PM
Traderlux
I find the discussion on verticals interesting. But whatever it is you are saying is apparently way over my head. I΄d like to know how you can adjust verticals and morph into other things for instance?
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falconview
Registered: Jun 2010
Posts: 1465 |
04-30-12 03:00 PM
I΄m trying to put on my first BUTTERFLY trade in TOS, but I don΄t seem to get any order form, when I click on anything, with the butterfly index? Is there a trick to this?
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RichardRimes
Registered: Oct 2005
Posts: 2526 |
04-30-12 07:23 PM
falcon spend some time on the chats offered on how to use the platform they will walk you thru it.... go to the help screen on the bottom they have a series of chats
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falconview
Registered: Jun 2010
Posts: 1465 |
04-30-12 09:00 PM
Thankyou Richard
I spent a couple of hours with the TOS HELP desk and they walked me through it. By that time, for this week, the spread had gone too small. However using the same knowledge I was able to put on a CONDOR which uses the same setup. Apparently I was having server problems and that also slowed things down as I could not download the order form.
Took me most of the day, but I did get in a small CONDOR, a Calendar, several accumulative directional buys and I will probably do a straddle later in the week.
Too bad my account is so small. But call it a learning week, as I enter some new types of stragegies for me, with small amounts, to test the waters and learn the quirks, so to speak.
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Dolemite
Registered: Jan 2003
Posts: 77 |
05-02-12 05:43 PM
Quote from optionbull:
Than you.
If I buy ATM what strike to choose Otm and why? and I am guessing this is better than a bet on the futures if and when I have a strong directional bias on the underlying itself for a few days or week.... Not a opinion about volatility IV or otherwise
If it is for a few days, you might be better off just buying the futures or an ITM option. Every time you add an option, you are paying the bid/ask spread and you are altering the greeks of the position. Unless the options are overpriced, you really won't get much help from that short option (except possibly buffer an adverse move). I often find it is easier to adjust my positions with the underlying than add long/short options to what is open. The underlying is pure delta, you don't have to monkey with the gamma/vega/theta etc. impact
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Dolemite
Registered: Jan 2003
Posts: 77 |
05-02-12 05:51 PM
Quote from falconview:
Thankyou Richard
I spent a couple of hours with the TOS HELP desk and they walked me through it. By that time, for this week, the spread had gone too small. However using the same knowledge I was able to put on a CONDOR which uses the same setup. Apparently I was having server problems and that also slowed things down as I could not download the order form.
Took me most of the day, but I did get in a small CONDOR, a Calendar, several accumulative directional buys and I will probably do a straddle later in the week.
Too bad my account is so small. But call it a learning week, as I enter some new types of stragegies for me, with small amounts, to test the waters and learn the quirks, so to speak.
You probably already know this but you should really understand the TOS platform before you start putting on trades, especially multi leg short gamma ones like a condor. Do you have a plan in place if the underlying makes a strong move and you are not sitting in front of your computer? Are you comfortable with that white T+0 line curving that far down on either end on your risk profile screen? A big move is not the time you want to try and figure out how to get out of a trade quickly. And I can tell you from personal experience, contingent orders to close things out will kill you if things start moving.
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