srf335

Looks like the PCLN trade is getting crowded - IV is up a bit and both the 555/575 and 550/570 NOV1 straddles have crept up 6-8% in the last 3 hours as the underlying has stayed pretty steady. Earnings aren't due for another couple of weeks. Will probably enter this one at the end of the day if it doesn't get too expensive.

I'll take a run at MSFT if no one else is doing it yet. Will have some time this weekend.

I'd think so too, but it appears to be the case. I'll talk to them tomorrow to clarify.

Thanks ChadK. Are you TOS or TDAmeritrade with TOS app? I'm just trying to determine how to get access to this option.

ChadK, are you able to route complex orders (i.e. RIC's, butterflies, straddles, etc...)? I'm also with TOS and can only route a simple call or put order. For anything else, BEST is the only option. Thanks.

Looks like GLD started to head back in the right direction this afternoon for you. Hope you get back to BE or better. I'm with tos, so placing an IC, RIC, straddle, etc... as a single order is not an issue. Commissions are predictable. How much the bid/ask spread changes (or doesn't) while I'm in a trade is not predictable (at least not that I can see on the trades I've executed so far). Haven't found the UNPREDICT() function in Excel yet...

Chris, Thanks for the insight and sharing your past learnings. Not as much with RUT/SPY/GLD, but more with individual securities, liquidity has been the main factor on many of these trades as I have allocated more of my portfolio to non-directional trades, especially when trying to minimize slippage on these 2 and 4-legged trades. A lot different than my directional "mindset" where a few pennies here and there weren't material to the results. The pennies are significant on these $1.00 to $5.00 non-dir trades, but meaningless if you can't execute. Still getting a feel for those trade-offs. FWIW, i decided to close the GLD calendar Friday and take the loss.

Any reason not to use puts for the 162 calendar if my 158 calendar is in calls? I don't think it matters and it charts basically the same as if the double calendar is all calls. It's currently a bit cheaper to do the 162 calendar with puts (if I pull the trigger and can get a fill), and would think it might have a bit more value near if GLD moves back down near 158 since they would be in the money (the 158 call calendar is currently about .03-.04 more than the 158 put calendar). Still deciding whether to close with loss or attempt to gain some back next week and just want to make sure I'm not missing anything on the double calendar.