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  • #341
  • Nov 30, 2016 5:26pm Nov 30, 2016 5:26pm
I bet you got this email - will be interested in checking out tastyworks.....
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Click to Enlarge Name: 2016-11-30_1524dough.png Size: 64 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #342
  • Nov 30, 2016 7:09pm Nov 30, 2016 7:09pm
Quoting The Fool
I bet you got this email - will be interested in checking out tastyworks..... {image}
Should be interesante ... . I wonder what led to that. The Soz and TDA seemed to be humping one another for quite some time now. Maybe the Soz wants part or more of the fee/commission pie ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #343
  • Nov 30, 2016 7:14pm Nov 30, 2016 7:14pm
Covering: CHK Jan 20th 4.5 short put for a .07 db. This was part of a covered strangle. Really thought oil might cave on OPEC announcement, so pulled it off at open just in case. Still have the Jan 20th 7 short call on which is now slightly in the money.

Covering: IYR 68/75/75/80 iron fly for a 2.87 db; in for 3.43, out for 2.87, $50 net profit after fees and comms.

Rolling: IWM Jan 6th 136.5 short call to Jan 20th 137 for a .22 credit. This is the final role of the short call of a diagonal; it's now a 137/140 credit spread, which I'll look to take off at 50% max or greater profit.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #344
  • Nov 30, 2016 8:17pm Nov 30, 2016 8:17pm
Quoting ZebraSquirl
Maybe the Soz wants part or more of the fee/commission pie ... .
Maybe he lost too much mony trading on the wrong side of the market? Anyway, I like more pie, too. If they want TDA's business, all they have to do is undercut the most expensive "discount" broker.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #345
  • Nov 30, 2016 10:02pm Nov 30, 2016 10:02pm
Quoting The Fool
{quote}Maybe he lost too much mony trading on the wrong side of the market? Anyway, I like more pie, too. If they want TDA's business, all they have to do is undercut the most expensive "discount" broker.
People like cheap.

Me personally: Do I really get anything more out of a broker that charges me $3.00/contract versus $.70 at this point? Or am I just paying indirectly for crap on the brokerage site that I don't use (education, stock ideas, news feeds, etc.)?

Strip all those stupid bells and whistles away that I don't use and don't give a crap about and what is a reasonable fee to pay just to execute my trades? I dunno the answer to that, but apparently there are some brokers out there that can do it for a $1.00/contract or less ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #346
  • Nov 30, 2016 10:16pm Nov 30, 2016 10:16pm
Well they all suck to a certain extent imo. I am currently just trading TDA and E*T accounts. I will say E*T regularly gives me quicker and better fills. But both of them have dealt me some total bs about how their "system" mismatched legs of my spreads. WTF? Caused margin calls at quite inopportune times that probably cost me money and wasted my time. Had to work it out with some humans who were alarmingly ignorant about options. You can at least eventually find somebody who knows what they are doing but it can take days. FML I'm not even trading much a load, 20-30 positions max usually. And their computers can't track it? They both charge the same but I would pay more for some reliable service....

I don't have a clue about tastyworks but will check them out.......
"If The Fool persists in his Folly he will become wise." - William Blake
  • #347
  • Nov 30, 2016 10:17pm Nov 30, 2016 10:17pm
Quoting The Fool
{quote}Maybe he lost too much mony trading on the wrong side of the market? Anyway, I like more pie, too. If they want TDA's business, all they have to do is undercut the most expensive "discount" broker.
As with all things, I'm gonna wait ... . I'm gonna demo ... . I assume it will be the Dough platform rebranded with, at some point, futures enabled. The devil will be in the fee details. I assume they will have to offer an improvement over the Dough/TDA fee structure, which was basically $1.50/contract flat; no fee for options closed for .05 or less. They will otherwise not get people to abandon TDA if it continues to offer that fee structure unless folks are absolutely incapable of using one of the TDA platforms (ToS, TradeArchitect, etc.) to execute trades and just can't "do without" Dough.

Moreover, unless you're absolutely rolling in cash and have a decent amount "lying about" that you can just plop into a new brokerage account, you will have to wind down your TDA trades, withdraw your funds, and then fund the TastyVerks account, all of which has a "hassle factor" to it ... . I'd think you'd want to offer some kind of incentive on top of just plain ass lower fees to get people on board. How about "the first 50 trades fee/commission free" to former Dough/TDA clients? (To Soz: "C'mon, bro. Do a brah a fave ... ").
Fireworks are fun ... as long as you don't blow your fingers off.
  • #348
  • Nov 30, 2016 10:24pm Nov 30, 2016 10:24pm
yeah we'll see, maybe they have nice intro offers. Will they allow IRA accounts? Not, at first, I'd guess. I never liked the dough platform but you're right, it really comes down to the cost to trade.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #349
  • Nov 30, 2016 10:33pm Nov 30, 2016 10:33pm
these US indices all look like they need a blow, not just another btfd either...

...I have gotten hooked on the tos, though.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #350
  • Dec 1, 2016 7:24pm Dec 1, 2016 7:24pm
I always hate tax loss time; if you're 'Murican and you have trades outside an IRA that you can benefit from taking a loss on, the time to do is it is basically before the tax year closes ... .

Taking some of those here in NVAX, GSAT, MEIP, and EARS. NVAX, MEIP, and EARS were speculative biopharma trades that I went in small on. NVAX imploded and never recovered; MEIP and EARS just basically went nowhere and their call side could not be worked adequately for cost basis reduction. GSAT -- same deal. When the underlying gets under a certain dollar value, they just become unworkable from a cost basis reduction standpoint on the call side because the calls aren't worth enough after fees and commissions to meaningfully whittle away at cost basis. Naturally, I could wait for these to pop (who knows when that will be), and then sell calls against at that point, but with biopharma, I could be waiting months or years for a positive trial outcome; GSAT just plain ass looks like it's headed to delisting. Oh, well, you take the good with the bad, and since our fine tax code allows me some benefit from the bad, takin' it here ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #351
  • Dec 1, 2016 7:27pm Dec 1, 2016 7:27pm
Quoting The Fool
these US indices all look like they need a blow, not just another btfd either... ...I have gotten hooked on the tos, though. {image}
I'm thinking ToS won't be touched; my recollection is that the Soz sold that to TDA (for, like, $600 mil), so it's TDA's baby now ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #352
  • Dec 1, 2016 9:20pm Dec 1, 2016 9:20pm
Quoting ZebraSquirl
I'm thinking ToS won't be touched; my recollection is that the Soz sold that to TDA (for, like, $600 mil), so it's TDA's baby now ... .
yeah, that's settled.....in other news, TDA acquires Scottrade.

$600 MM huh? I'm sure Soz didn't get all that but prolly a nice chunk....shit, if I won a $6mm lotto I'd forget about trading. (No I wouldn't - I'm a greedy bastard.)

http://www.usatoday.com/story/money/...rade/92665800/
"If The Fool persists in his Folly he will become wise." - William Blake
  • #353
  • Dec 1, 2016 11:34pm Dec 1, 2016 11:34pm
Quoting The Fool
{quote}yeah, that's settled.....in other news, TDA acquires Scottrade. $600 MM huh? I'm sure Soz didn't get all that but prolly a nice chunk....shit, if I won a $6mm lotto I'd forget about trading. (No I wouldn't - I'm a greedy bastard.) http://www.usatoday.com/story/money/...rade/92665800/
Here's the original story: http://www.marketwatch.com/story/td-...or-606-million Here's a little kicker in the story: "Each trade runs between $10 and $20 per leg, and the typical options trade has three [wtf?! three?] legs in the chain," analyst Robert Ellis was quoted as saying.

There are, in fact, very few "typical options trades" with three legs, and I'm not sure what this $10-$20 per leg crap is about ... . Lol. Doesn't seem like a "Jade Lizard" guy (the only "typical options" trade -- if you call that "typical" -- with three legs). https://www.linkedin.com/in/bobjellis
Fireworks are fun ... as long as you don't blow your fingers off.
  • #354
  • Dec 2, 2016 4:11pm Dec 2, 2016 4:11pm
snow & cold forecast for the PacNW all next week, winter finally makes an appearance.....we'll see if it can settle in across the States and pop the ng price.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #355
  • Dec 2, 2016 5:45pm Dec 2, 2016 5:45pm
Quoting The Fool
snow & cold forecast for the PacNW all next week, winter finally makes an appearance.....we'll see if it can settle in across the States and pop the ng price.....
That would be bueno ... . CHK already has had a small pop, courtesy of OPEC; wouldn't mind a second, courtesy of mothah nature ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #356
  • Dec 2, 2016 5:46pm Dec 2, 2016 5:46pm
Opening: GPRO Jan 20th 9 short put, which I got filled for a 1.00 credit earlier in the day. It still goes for .96, has a 65% probability of profit, and the break even is 8.00 ... . When a $9 underlying gives you $100 in premium, well, you take it ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #357
  • Dec 3, 2016 10:11pm Dec 3, 2016 10:11pm
Rotating into ETF's here ... . EWZ and XBI appear to have the best IVR/IV combos (>70 IVR/>35 IV) (six month IVR). I already have an EWZ on, so XBI, it is:

Attached Image (click to enlarge)
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Max loss/buying power effect is 3.00 ($300)/contract, BE's at 56.38/66.96.

Still has those oddball strikes post-split ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #358
  • Dec 3, 2016 10:27pm Dec 3, 2016 10:27pm
Quoting ZebraSquirl
Rotating into ETF's here ... . EWZ and XBI appear to have the best IVR/IV combos (>70 IVR/>35 IV) (six month IVR). I already have an EWZ on, so XBI, it is: {image} Max loss/buying power effect is 3.00 ($300)/contract, BE's at 56.38/66.96. Still has those oddball strikes post-split ... .
The graphical representation of the setup:

Attached Image (click to enlarge)
Click to Enlarge Name: XBI FLY.jpg Size: 516 KB
Fireworks are fun ... as long as you don't blow your fingers off.
  • #359
  • Dec 4, 2016 10:35pm Dec 4, 2016 10:35pm
Some minor VIX futures friskiness around the Italian referendum: Dec 7th up .13 to 14.40; the 14th, up .13 to 15.05; the 21st, up to 15.20. http://www.cboe.com/micro/vix-and-volatility.aspx
Fireworks are fun ... as long as you don't blow your fingers off.
  • #360
  • Dec 5, 2016 7:16pm Dec 5, 2016 7:16pm
Covering: IWM Dec 23rd 125/128/135/138 iron condor for a 1.01 db. This started out as a delta hedge (just the short put side), after which I legged into the short call side, completing a full on iron condor. IWM doesn't seem to be coming off these highs very quickly (an understatement), so I closed it out here for a small profit ($18, after fees/comms) to avoid inheriting another poo pile. I only like to work so many poo piles at once ... . Lol.

Covering: IWM Dec 9th 124/127 short put vert for a .05 db (near worthless) and Rolling: IWM Dec 9th 127/131 short call vert to Dec 16th 128/132 for a .57 db. I'll look at financing that roll tomorrow with something when I've got time to piddle ... .
Fireworks are fun ... as long as you don't blow your fingers off.
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