I am a retail trader. I trade butterflies because they can be cheap to open, and there are no extra margin requirements. Also the risk reward can...
Well yes, that does make sense to me what you are saying. However, in my case, I only ever place trades that are deep ITM to test the market. I...
This is a screenshot of my NDX trade, showing the legs of the November 29th expiry. Strikes 16,800, 17,000 and 17,200. You can see both mid and...
Thank you for your insight Robert. Yes I believe Schwab send spread orders directly to the exchange complex order book. Of course that is actually...
I did manage once to get filled on a NDX diagonal spread for around 16,000% profit. I entered for $1 risk and closed for $164. However I will in...
I have been trading options for some time now. I have had mixed success during this journey. My go to strategy is butterfly trades based on index...
I re I really don't know where the orders are executing. All I do know is my limit orders have hit my price several times and I have yet to...
I'm not entirely sure where Firstrade sends orders to be executed. I know that they clear through Apex, with Citadel being the main dealer...
Oh by the way, I forgot to mention in my last post that Firstrade are also a zero commission broker for stocks, options, funds etc. So PFOF is...
Thank you for your input, very interesting points you make here. I have only been with two options brokers so far, Tastytrade and Firstrade. Both...
I am trading options, not futures.
Yes I accept that point. But sometimes there is nothing wrong with trading at the bid/ask. These fluctuate a lot as well with my strategy. But mid...
Is that good or bad?
When I was with Tastytrade I had the same trouble getting orders to fill, especially at the mid price. Both Firstrade and Tastytrade clear through...
Firstrade also has a $1 million 'firm limit'. Which means that any position established for more than $1 million in credit will not be accepted.
I see. And is a floor broker detrimental in some way to a retail client?
I'm not sure how to check orders on the CBOE, Robert. I wasn't aware of that. Liquidity shouldn't be an issue, as I'm trading mostly ATM...
Thanks Robert. I realise that with ITM options the role of the market maker is particularly important. However in the case of one of my positions...
I read your answer in my previous post. No I did not ignore it. I'm struggling to understand how it is that no matter how many times I alter my...
I recently opened an account with Firstrade and began trading mostly option index spreads, for capital efficiency. I mostly aim for mid price on...
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