I welcome a post like yours, you are nice and open. No problem. I have problem with these high handed band of idiots jockeying in to split hairs and fish tail the thread with negative useless comments. They will have to eat glass. I trade SPX, and if I have choice, I wouldn't trade at all. Infact I have migrated to other indexes just like "Optioncoach " our Guru on SPX trading, did this year. So if you do have a choice, I would respectfully try to say, please dont trade SPX since its an illiquid vehicle of choice. OEX is traded electronically now. If SPX is traded electronically, I don't know what will happen to the wide BID and ASK prices. We just have to see. If its a tight market like RUT or NDX, than my post will be obsolete and useless. Hope this helps in any way.
That is a good point, I never traded SPX. Still, I fail to see how that matters. Trading between bid/ask is almost the same on all markets. There are lots of stock with large b/a spreads and they too have MM's. There is nothing special about the MM's on SPX except for the fact that they have only a single electronic book. But your claim that they HAVE to buy at the latest bid has notihing to do with that. Frankly, it worries me how someone doesn't see how unobvious and counterintuitive such a rule is. It would destroy all logical marketfunction. As someone said, just put in a 2-lot 1 or 2 ticks below the ask and then sell your 200-lot at that price (which, in your view, the MM has to honour). I don't see how this is not on-topic or disrespectfull. I think you were the one whos started to become disrespectfull to others, who tried to clarify your mistake. I have an issue with that. Ursa..
You never traded SPX , yet you are sticking to this thread like a fly to the ointment? You don't know what this post is about. You don't even know how it works, yet you seem to know all about market makers and trading at SPX pits. Like I said before, take whats good for you or leave it. We are not here to entertain your hair splitting arguments and bring you in our corner and pat you on the back. This post is about people who trade SPX for a living, not some vagrant wannabes who have no clue whats going on. In my opinion you are disruptor who he assailing this thread for personal egotistic reasons.
Who's we? No one is agreeing with you and you refuse to discuss with the ones disagreeing. You are completely alone. There is little I do not know about option trading. And you are not trading the pit. Ursa..
Here is another gem of a post you made complaining and moaning about others. You have a history of this kind of lifestyle. http://www.elitetrader.com/vb/showthread.php?s=&postid=1571063#post1571063 Enough. Now Go away. Beat it.
Why should I quit to you? Told you to get lost, but you keep coming back like an unashamed hooker, asking for money.
Thank you for advertising that link, as I did myself a few posts ago. It is important to have many supporters for my proposition in that thread and I can't thank you enough for bringing it to the public's attention once again, very nice of you, unexpected really. The proposed extended ignore system in that thread is needed to stop trolls and spammers before they destroy the value of this board. (The fact that you feel that your case is similar or related makes me think.) Anyway, if you are not a troll and not a spammer and if you have no history of previous aliases that were banned than you have nothing to fear: if only me and some others ignore you you can still post, but we won't see it. Of course when more and more ppl ignore you, you will become invisible for all. And a new alias is not possible. This way we can be reasonably sure that someone is not a troll nor a spammer or he would be on ignore by many already. Neat huh? Well, thanks again, Ursa..