pgrace0154

Thank you Chris Pat

Chris, What is your current pos on GLD is it 159/178 166/170 if so can I get in Mon 12/3 Thanks, Pat

I forgot to say I'm talking about SPY

Can anyone help me understand the interaction of Greeks, IV and Delta because I can not with my understanding explain why the Nov 16 146 PUT long should be down $1.48 as I write this. Thanks, Pat

Out at .50

Thank you all for responding and trying to help, it is very much appreciated. I can see now that I should never have brought up % gain at different commissions. I have only muddied the waters. My bottom line is: I am consistently paying 1.5C per unit per trade (a unit being 100th of one option. Some are paying less that 1C per unit. Also as far as I know I have never received a rebate. I have talked to their customer service and their trade desk many times to know avail. I will post no more on this subject. Thank you all again. Pat

Kim, Firstly what you paid is immaterial to this post unless you can tell me how I can get your rates, as was the whole thrust of the my post. Secondly The inference of your post was that my trade was not done with IB. It was IB. Thirdly I don't see how you can make any conclusions about gain/loss % without including the opening and closing trades. Eight total trades at .95C per trade. Fourthly even if I have to abandon small $ trades I have no intention of leaving your servie as I consider the educational benifit probably worth the price anyway, although your rationals for entering or exiting a trade are too brief (more verbage needed). P.S Kelly I included you because you seem to be having the same commission woes as me with IB. regards, Pat

Marco. Kim and Kelly, I opened the HAL 30 srtraddle for 1.52 2 calls and 2 puts on the 19th. Commissions 3.83 Closed 2/20 for 1.92 Commissions 3.02 total 6.85 / 8 = .956C 1.92 - 1.52 = .40 .40/1.52 = 26% Gain. Add the commissions of .95 per option and the gain is cut by more than 40% closer to 50% That is 8 options total and IB says that is the way they charge, at lease that is my understanding from talking to them. Now if any of the three addresses above have any ideas about getting my commissions down to whak Kim and Marco are reporting I'll send you a nice gift at Christmass. Thanks for your consideration, Pat

It reformatted when I posted. "commission" should be over the 2.99's and the 1.50s

Contract Is Combo? Net Total Commission Net Incl. SPX JUL 27 '12 1375 Straddle SMART -2,155.00 2.99 -2,157.99 SPX JUL 27 '12 1380 Straddle SMART -2,130.00 2.99 -2,132.99 SPX JUL12 1375 Call Option CBOE -1,110.00 1.50 -1,111.50 SPX JUL12 1375 Put Option CBOE -1,050.00 1.50 -1,051.50 IB Commissions 1380 straddle bought at the ASK 1375 Straddle bought < ASK 1375 Call at the ASK 1375 PUT < ASK Straight buys no round trip and it has always been so.

of the books listed would you recommend one that reflects your trading philosophy more that the others?Pat

http://www.optionpit.com/node/162 Pat

will do.

"1. I encourage you to do your own homework before following any of my trades. 2. If you are new to options or to those strategies, start small. Increase your allocation as you gain more experience and confidence. 3. Try to understand what we are doing. Ask questions. No question is too dumb on this forum. 4. Don't wait for my alerts if you like the trade. Enter if you like it. Exit based on " Your last sentence answered my question and the quote above is why I asked.. Thank you.

Kim, I have a tough job, I work swing and W/E. I was never any good at math and anywat I quit in the 8tg, so why can't I just follow you?

I only use SMART. Smart sends the order to the best price. I can't stop it from sending it anywhere.

I trade with IB and they told me last week that if the trade goes to the CBOE the extra fee per contract is .40. To be clear that is 2.80 for a one contract straddle.