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Updated July 28, 2023
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December 18th, 2014, 12:05 PM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785
irvino81
Hi Ron, thanks for your opinion, it is the first one I ever get on the topic and I appreciate it. So according to you, if I check tradestation futures 9.0 quotes for coffee options they are going to be the same for every broker in the planet ? Those options models are going to shoot the same numbers for everybody, every market maker is going to arrive at the same conclusion for bids and offers at all times?
Here I have a picture of my screen from a couple of minutes ago of some positions I have on oil. Some Short some long. The platform glitch repeated the 61 put. Notice the values of the bids and asks are different (Third and Fourth Columns are Bids and Asks)
Yes same bids and asks for everybody on the planet. All market makers send their bids and asks to the CME or ICE. This isn't like stock options.
The reason for the wide spread between bid and ask is you are looking at deep ITM options. Nobody really wants to trade them so they have a very wide spread.
Look at a 50 or 55 put. Much closer spread.
Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
December 18th, 2014, 12:06 PM
Posts: 3,668 since Jul 2012
Thanks Given: 1,893
Thanks Received: 7,378
irvino81
Hi Ron, thanks for your opinion, it is the first one I ever get on the topic and I appreciate it. So according to you, if I check tradestation futures 9.0 quotes for coffee options they are going to be the same for every broker in the planet ? Those options models are going to shoot the same numbers for everybody, every market maker is going to arrive at the same conclusion for bids and offers at all times?
Here I have a picture of my screen from a couple of minutes ago of some positions I have on oil. Some Short some long. The platform glitch repeated the 61 put. Notice the values of the bids and asks are different (Third and Fourth Columns are Bids and Asks)
For futures, all quotes are distributed by the exchanges, and everyone in the world sees the same bid and ask .
Maybe you are thinking of Forex market, where each broker could make his own bid /ask quote, since there is no centralized exchange.
December 18th, 2014, 03:53 PM
Linz Austria
Experience: Advanced
Platform: TWS
Broker: Interactive Brokers
Trading: Commodities
Posts: 1,938 since Nov 2014
Thanks Given: 3,688
Thanks Received: 2,651
irvino81
Hi Ron, thanks for your opinion, it is the first one I ever get on the topic and I appreciate it. So according to you, if I check tradestation futures 9.0 quotes for coffee options they are going to be the same for every broker in the planet ? Those options models are going to shoot the same numbers for everybody, every market maker is going to arrive at the same conclusion for bids and offers at all times?
Here I have a picture of my screen from a couple of minutes ago of some positions I have on oil. Some Short some long. The platform glitch repeated the 61 put. Notice the values of the bids and asks are different (Third and Fourth Columns are Bids and Asks)
There is one exception: There are commodities that you can trade at different exchanges. You can trade wheat at CME as well as at Matif in France; you can trade Cocoa at ICE as well as in London. Prices will be different, but also conditions of the trade are not the same: Eg. the place of delivery usually is different, also often the quality of the product you have to deliver.
Best regards, Myrrdin
December 18th, 2014, 04:10 PM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785
myrrdin
There is one exception: There are commodities that you can trade in different exchanges. You can trade wheat at
CME as well as at Matif in France; you can trade Cocoa at ICE as well as in London. Prices will be different, but also conditions of the trade are not the same: Eg. the place of delivery usually is different, also often the quality of the product you have to deliver.
Best regards, Myrrdin
This is not what he was asking. He was asking about the KC contract .
December 18th, 2014, 04:25 PM
Linz Austria
Experience: Advanced
Platform: TWS
Broker: Interactive Brokers
Trading: Commodities
Posts: 1,938 since Nov 2014
Thanks Given: 3,688
Thanks Received: 2,651
ron99
This is not what he was asking. He was asking about the KC
contract .
1. The thumbnail of irvin081 shows CL options, not KC.
2. I thought the additional information might be useful for novice traders.
3. I get the impression you want to have your private forum here. I accept this, and will not post any further comments.
Best regards, Myrrdin
December 18th, 2014, 06:09 PM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785
myrrdin
1. The thumbnail of irvin081 shows CL options, not KC.
2. I thought the additional information might be useful for novice traders.
3. I get the impression you want to have your private forum here. I accept this, and will not post any further comments.
Best regards, Myrrdin
1. He said coffee options at Trade Station.
2. You offered no help because you didn't answer the question of why the wide spread at one exchange.
3. How is your prediction that CL wouldn't go below $65 and how are those Dec 2015 $50 crude puts working out for you?
December 18th, 2014, 06:37 PM
dade fl
Posts: 21 since Nov 2014
Thanks Given: 21
Thanks Received: 7
Fellows, lets get back to business and put our personal differences aside. I understand the options quotes offered by tradestation "should" be the same as those offered by IB. But just for the sake of the argument, is it possible for your broker if she is trading against you to post a bogus quote on an option matrix? Silver options come to mind since they carry a big margin requirement and margin calls can be nasty. And for those of you with experience in this business, I'm honestly asking and I really appreciate everybody for their contribution.
December 18th, 2014, 06:51 PM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785
irvino81
Fellows, lets get back to business and put our personal differences aside. I understand the options quotes offered by tradestation "should" be the same as those offered by IB. But just for the sake of the argument, is it possible for your broker if she is trading against you to post a bogus quote on an option matrix? Silver options come to mind since they carry a big margin requirement and margin calls can be nasty. And for those of you with experience in this business, I'm honestly asking and I really appreciate everybody for their contribution.
All bids and asks are sent to the exchange, combined together and sent out as the only source of data on platforms. The broker has nothing to do with it. Trade Station has the same bids and asks as IB, Gain, RJO, ADM, TOS and everybody else because they all get them from the same place. CME , ICE, etc.
December 18th, 2014, 07:41 PM
Salt Lake City, USA
Posts: 88 since Jul 2011
Thanks Given: 34
Thanks Received: 62
So bought the new option selling book from James Cordier's website and signed up for some stuff and got sent a news letter for december.
He is recommending selling the march 8.5 natural gas calls.
any thoughts ?
thanks
V
December 18th, 2014, 07:57 PM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785
vmaiya73
So bought the new option selling book from James Cordier's website and signed up for some stuff and got sent a news letter for december.
He is recommending selling the march 8.5 natural gas calls.
any thoughts ?
thanks
V
Maybe later but not now when call prices are very low.
Last Updated on July 28, 2023