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Strategies & Market Trends : Option Spreads, Credit my Debit -- Ignore unavailable to you. Want to Upgrade?

To: sergio who wrote (759)7/2/1999 8:02:00 AM
From: dealmakr   Read Replies (1) | Respond to of 2317
 
sergio,

I think that you have to use a broker when initiating a spread for either a credit or debit. The only way around it is by legging in one side at a time. I use Brown & Co.NDB and have just opened with Yamner. I know that Ken uses butterflies, but I only use rarely. The put/call ratio can be calculated from this site:

cboe.com

I use an ratio of < 120 on the OEX for an overbot area and yesterday was 1.13. One day this week was below 1. For equities a reading < .40 on an ongoing basis would also indicate too much optimism IMHO. VIX also showing a lot of complacency IMHO. Will have to see how the trend developes on the VIX, but the market usually will take care of excesses after a while in its own way.

Good Trading

Dave



To: sergio who wrote (759)7/2/1999 1:12:00 PM
From: OX  Read Replies (3) | Respond to of 2317
 
At Preferred, you have to talk to a live broker to do spreads (net debit/credit), unless of course you want to leg in/out. And what I was told from one of their reps is that will cost you their retail rates:

"Options priced up to $10.00 are $3.00 per contract
Options priced $10.00 and above are $4.00 per contract
Minimum is $30.00 per order"

Are there any online brokers one can use to enter in both sides of a spread simultaneously? I haven't seen any.


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