your opinion about: Box Spreads Options (for American options)

1) Risks?
2) Your experience?
3) Issues with IB's platform?
4) Best order type LMT, SNAP MID, REL +MKT, LMT + MKT, REL + LMT ?
5) To close or not to close on the last day?


- answers only for AMERICAN type stock options -

 

Why would you trade a box spread at all?

 

and link for the famous Trader says he has ‘no money at risk,’ then promptly loses almost 2,000% - MarketWatch story . . . .

 

one of the reasons: Lower interest rates

 

Why would you even consider an American option then?

 

why not just do with European S&P500 or Nasdaq index options? The large size doesn't even matter as you can just choose narrow strikes...