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Hi Mj,
These are the articles that I found containing info on the support and resistance levels for the SPY daytrades
https://www.fullyinformed.com/members/morning-spx-market-action-quick-comments-for-feb-19-2020
Good luck investing!
Ernst
Send me your email and I will get it to you that way.
Ernst
Mj, I tried topost eleven times. It looks like everytime a link isincluded my post is deleted. Oh I see I might have to use the link facility. There are 4 links.
Ok tried that 5 times. Not accepted by this ancient tool.
There’s no better alternative than a profit! LOL
Aby, absolutely they do. In fact, if I BTC for $.40 (my commission rate) or less, there is no commission.
Yes, the price lists and the explanations are freely available on the website. On this screenshot you can see the low price of $0.25
I have in the past but gave it up about 6 months ago. Now almost exclusive trade weekly SPX spreads.
Sorry. This was supposed to be directed at mjgill.
Adding or removing liquidity can influence the commisions
Yes IBKR charges $0.65 per contract plus ~$0.10 extra fees=~$0.75
Teddi’s fees of $0.25 are based on super high volume, if you look at her fees from about a year ago, you can see that she paid $0.75But, occasionally I have also been charged negative commission too (yes!). This has to do with socalled providing liquidity. This apparently can happen when you place your limit order between ask and bid. I am not a professional, so this is from the top of my head, but you can find instructions on the ibkr website
I pay $0.40 per contract at Fidelity. It seems you are really being overcharged.
Assignment can happen on any day, but you will not know until the open on the next day.
You are being charge a lot. It could be the account you set up. I found IBR fee structure way too complicated. Fidelity and Schwab charge 0.65 per option contract period. And you can negotiate that down depending on the size of the account and how much you trade. I find it hard to believe they cannot lower their fees nor recover some of the fees you have already incurred.
@teddi23 Hi Teddi, I am catching up on your articles and found the first part of a series of 5 you announced :
https://www.fullyinformed.com/understanding-the-long-put-in-a-credit-put-spread-part-1-investor-questions/I thought it was an excellent help and looked for the other 4 parts, but I don’t think you wrote them? If not, are you planning to do so? Looking forward to it.
Thanks
ErnstNow we know what you do in your spare hour. :)
Hi Mike,
The offer to buy, means buying back exactly what you sold. So you need to put a buy order in for the exact same expiration and strike, otherwise you will just open a new position for 5 put contracts.
In other words: to put in an offer to buy back, the easiest way is to find the button that says “close”. All you have to do than is to fill in a price.
Also I can see that the screen displays “delayed data”. Depending on how accurately you want to practice entry and exit points, you might consider subscribing to the appropriate marketdata
Interactive Brokers has lots of instructive videos about the use of the tools. Personally I use TWS on iPad and iPhone. Very simple and it looks nothing like the complicated TWS on desktop