Humble

You are missing one major point (sorry for not mentioning it earlier): VIX options are based on futures, SPX options are based on SPX index. So VIX front month options can trade higher than back month when VIX is in backwardation. For SPX, this is irrelevant - options are based on the same index, so front options cannot be more expensive than back options. Not theoretically and not practically. It works exactly the same as options on stocks. This is why there is no margin requirement when you buy SPX or RUT calendars - you cannot lose more than the debit paid. And if you don't close it on expiration day, the broker always has an option to liquidate it (as a spread or one by one).

I believe this applies to VIX calendars only. I have never seem front expiration trading at higher prices than back expiration for SPX.

Got some answers from Tradier team (they are not allowed to post directly here): Q. How much are exchange and regulatory fees per contract ? 10/15 cents ? A. There are exchange fees that are passed along when you purchase or sell an option contract. The primary fee that is charged on each option transaction is the ORF or Options Regulatory Fee. This fee does fluctuate over time, but the ORF fee currently stands at about $0.05/contract. When selling options contracts, a TAF fee also applies. This fee also fluctuates over time, but currently stands at about $0.01/contract sold. Index Option fees currently range from $0.18/contract - $0.60/contract but only apply on these symbols: DXL, EPX, HGX, MNX, MVR, OEX, OSX, RUT, SOX, SPX, SVO, UTY, VIX, XAU, XEO and XDE. Q. Also, what are the margin requirements and margin interest? Do they allow VIX/SPX calendars (without exorbitant margin requirements). Also, how is their reputation on execution quality A. Margin requirement are consistent with the brokerage industry for the various types of option strategies. Unfortunately, Tradier Brokerage does not allow calendar spreads on index options. Expiration dates have to be the same. Tradier Brokerage is held to the same Best Execution standards within the securities industry. Q. With Tradiers offer this would be 480USD + exchange and regulatory fees. Is this right ? A. That is correct. Q. Hi Kim, looks great, but what about futures and options to futures (CME)? They allow that? A. Current, Tradier Brokerage does not offer futures and options on futures.

Not sure if you had a chance to see this article about buying pre-earnings straddles. Their study was so absurd that I still cannot understand if it's ignorance or deliberate, skewing the rules in their favor to reach the desired results. When I confronted them and proved how skewed their study was, instead if admitting it, they just removed the study. But after some time they made another one, with similar results. They based the whole study on 2-4 stocks, which are among the worst for this strategy, and set the worst possible parameters. And they call it "research". But I'm not complaining. As I said few times, we need someone to sell us those straddles so we can profit.. I just feel sorry for his followers who blindly trust his "studies" without double checking them.

If it was only 10% BS.. It is much more. The concept of taking profits at pre-defined point is well known. It is not something invented by tastytrade. The concept of negative gamma risk is well known too. You might notice that I never hold negative gamma spreads till expiration - in fact, I rarely hold them till expiration week. My rule of thumb is to cover the short spread for 20-30% of the maximum value. tastytrade advocates 50%, which is fine - but you need to define a rule and stick to it. Discipline is the key. "And discard the BS....you know the difference between the two!" - here lies the biggest problem: you and I might know the difference. I bet 90% of his followers don't. They just take 100% of what he says at its face value, especially when he says it with such conviction and charisma.

Just listened to the podcast. I must say that it is really rare collection of complete and unproved BS. I really feel sorry for his followers, especially novice traders who take his advice at face value. Quote: "THE ONLY WAY TO MAKE MONEY IN THE MARKET IS BY SELLING NAKED OPTIONS" Really??? Quote: "When volatility is high we just sell it and wait for the positive theta to do the job" Really? I have news for you Mr. Sosnoff: IV is usually high for a reason. If NFLX options imply 10% before earnings and the stock moves 20% or more, will positive theta really help you??

How about Warren Buffet? Peter Lynch? Peter Brandt? They are all lying?

Why I'm not surprised.. I guess he didn't see our track record. But this is the same guy who refuses for years to reveal his performance. There is even no proof that he actually trades. This is My 2015 Personal Account Return: 80.2% Tom Sosnoff, trading many strategies that are OPPOSITE to TastyTrade methodology. Care to show yours?

Exchange and regulatory fees vary between exchanges, but I believe it is less than 0.10 on average. Probably somewhere between 0.05-0.10. I'm not sure about other questions, still waiting for response from Dan Raju, co-founder and chairman of Tradier.

We are pleased to announce that we have reached an agreement with Tradier Brokerage to provide special commission structure for SteadyOptions clients. Tradier offers a special $40/Month $10/Month as of Nov.2019 of Flat Price Trading for SteadyOptions Clients. For $40/month $10/month the SteadyOptions client can trade unlimited options trades and there will be no per trade commissions. Conditions: This offer for commission free option trades is valid for new accounts opened at Tradier Brokerage and funded with a $5,000 minimum within 30 days of account opening. Your account will be charged a monthly subscription fee of $40 $10 at the beginning of each month for this promotion. Subscription excludes other fees such as options exercise and assignments. Tradier Brokerage passes along all exchange and regulatory fees. Applicable minimums may apply. This special offer valid for Tradier Brokerage accounts funded within 30 days of account opening with $5,000 or more. Note: Tradier started to support international accounts in Feb 2018. Please send a note to service@tradierbrokerage.com or call (980) 272-3880 and they will work with you to open an account electronically (they then send you online Docusign application link to for account opening and request supporting docs). The deal includes IRA accounts too. They offer Limited Margin IRA accounts where customers can trade option spreads of any type as long as they are covered. They cannot trade naked calls. IRA accounts can only be opened with level 2 options, but customers can complete 2 forms via DocuSign after the account is opened and they can upgrade the account to a Limited Margin IRA with level 3 options trading. For your reference, here are these DocuSign links: Options Limited Margin Nov. 2019 update from Tradier: The new subscription pricing is: $0 for equity $10 for equity and options (previously $40) Access to tradehawk equity and options One change to note with this new price is that they will be charging .35 a contract for single listed index options (SPX, RUT, VIX ect ..) The disclaimer is as follows; Single Listed Index Options are subject to a $0.35/contract fee in addition to any pass-thought exchange fees. Tradier Brokerage passes along all exchange, OCC, and regulatory fees. February 2024 offer from Tradier: Steady Options customers receive a special Index Option pricing of only $.10 per contract when you sign up for the Tradier Pro plan.** Customers must be subscribed to Steady Options in order to take part in this promotion. Limited to one account per household. *Single Listed Index Options are subject to a $0.10/contract commission in addition to any other charges for exchange, OCC, and regulatory fees. See Fee Schedule for more details. Tradier Brokerage Inc. charges for exchange, OCC, and regulatory fees. Other fees and applicable minimums may apply see Fee Schedule for more details. The bottom line is that Single Listed Index Options (VIX etc) will have a special pricing of around 0.50-0.55 per contract all in. Click here to sign up: https://join.tradier.com/steadyoptionsvix Here is a webinar recording: https://us02web.zoom.us/rec/share/wxTDW8q7hd9gqMcs5myllpJbDNvq6fyjoq4MXWCr3ZiFhPdD9cxNDDt178qwDDnr.PJAKsGL-lhp7nT43 Passcode: $j3&uV&! Also, members can reach Lex at lex@tradier.com and/or to schedule a private, online tour with Lex: https://calendly.com/tradehawk

In your example, which expiration you referred to? You still need a move to make a profit because the trade is theta negative. The P/L chart is not much different from straddle.

The best thing to do is opening a ticket with their support. They respond very promptly.

I'm definitely open to new opportunities. However, we have to remember that high IV is there for a reason. High IV is usually associated with more volatility. There are no free lunches. If you can bring some examples it would help.

Could you give some example please? I just checked /CL Oct $52 call option which has delta of 10, and it's is trading at 0.26/0.28. Considering around $1,100 margin, that's potential return of 2.5% in 2 months if you hold till expiration. Doesn't sound too attractive. Am I missing something?

We had very good success with VIX calendars overall. The key is not to hold them too long, so the negative gamma doesn't become too big. But I agree that you are not careful, losses can be significant.

None.. and this is exactly the issue why I stopped trading them. I think that our calendar strangles offer better risk/reward, and we will resume the VXX diagonals after the split.

And we all know what happened next.. While those calendars should be profitable in the long term, the losses could be very heavy. For example, if you enter at -0.50, which makes capital requirement of $100, and it trades at -1.80 like now, that's 130% loss. Ouch..

Yes, show margin in IB now shows different numbers for different spreads based on strikes and expirations. For call calendars they show margin of ZERO! Must be a mistake.

You can subscribe to alerts directly on company website (investor relations section). I usually check in optionslam.com and then confirm on company website.

I can see there is clearly an interest. We will probably start with individual sessions as pilot, and if successful, will offer full packages. Just to get an idea about pricing: Sheridan Mentoring offers 12 sessions for 7k or individual sessions for $350/session. OptionPit offers 20 sessions for 10k.

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There is a lot of logistics involved in organizing such event. This is definitely something worth considering.

I would like to conduct a poll regarding possible one on one mentoring. Please let me know if you would be interested and how much would you be willing to pay.

Same here - agree and disagree Agree that if you paid good money and the community is gone, you feel felt ripped off, especially if the membership has been changed retroactively. However, I personally still feel that I gained a lot from the mentoring program, and this knowledge is not gone. Whether it was good value for money considering that part of the program is now gone is another question. But if you went to a program that charges half of that, and also provides you with some extra perks, that might be good value for money. I definitely agree that "knowledge obtained is a stretch for a lot of these clowns in this service". And I also agree that the trading world is one of the worse industries (the diet industry is probably in the same league because it also thrives on people with hope). But that doesn't mean that there are no exceptions. I hope many people consider SteadyOptions as one of the exceptions in this highly corrupted industry. This is why I would not call ALL mentors Snake oil salesmen, and it's important to do the homework before joining any mentoring program (or subscription service).

I would like to address a comment posted by one of the members in another topic: "And mentoring for 200 to 300 a session. I can assure anyone doing this type of service is a shitty trader. Those people are snake-oil salesman. Snake oil salesmen always show their true colors." There are all kinds of mentors and mentoring programs. As I mentioned, I personally went through Sheridan Mentoring program and considered it beneficial. But you need to judge the program for what it provides. If a program is $7k for 12 mentoring sessions and access to the community, but the community is essentially dead, then you are basically paying $580 per mentoring session. Is it a good value? It's up to you to decide. As for snake-oil salesman comment - I'm not sure why it's okay for university professor or high school teacher to give private lessons, but when it comes to options mentoring, it is considered snake-oil salesman. Each mentor should be judged on case by case basis. I know many mentors (or subscription service providers) who are "shitty traders" or don't trade at all. But there are also some who are excellent traders with proven track record. This is why it is important to do your research and select someone who actually trades and who you trust.