Your Q's- "Penny for Penny"!!..."Routing to certain exchanges"..."what is your strategy trading Stock-Options?".. "Volume and fills."
"Penny for penny", not really. The highest delta is in-the-money's during op ex week. This is true on most stocks. I've talked to other brokerages about their routing and they all say they get the best price. I've been relatively content with Ameritrade often getting better than expected on my limit orders. My strategy? I could go on for an hour. Differs with stock, impending news, charts and my preferred time horizon. Generally I trade 1 or 2 day holds. Rarely buy more than 40 days out. I am not concerned with squeezing the max out of every trade. I take what the market gives me and move on. Just win, baby. I'm all about high percentage of winners with a conservative approach. I've posted my VLO trades here for the last 3 weeks and I'm 16-1 over that time. I try not to clog up the board with my other plays but occasionally I'll give an opinion and my position if asked. There are lots of wild gamblers who hit big and lose big. Last week's VLO trades, if only played with 10 contracts each would have netted the follower $2500+ on $6,500 risked. Some folks say I'm due to get clobbered, but that'll never happen because I keep within limits. My limits vary with each trade and time B4 expiry. Usually, if the position goes against me and the move is valid, I'll exit and take the loss, or hedge the other side and try to play the pivot. Lots of strategies... Volume is key for me. I don't like thin open interest or volume stocks. Rarely trade ops in a stock that doesn't have avg daily vol over 5mil shares. P.
All I have open is the VLO strangle above in the thread. Other biz yesterday, wasn't too involved. I will exit both ends (probably) this AM. The S&P gap PARTIALLY filled yesterday. I think we need 828 still, and the boys will be up on the Hill trying to peddle their scheme so who knows what the sentiment will be by end of day. I had good put success last week on GS and MS and will watch them for weakness today, but will most likely set up oil positions ahead of tomorrow's inventory report. Obama's talking up Alt Energy again so my thinking is a mild market selloff might not be enough to dampen enthusiasm in the solar sector, though I'd love to beat FSLR down to $95! Sniffing around the Dow puts yesterday but didn't fill. A lot of folks don't like the overnight hold, but i often do. The morning gaps are a great reward. If I don't have an overnight position, I'll often fade the gap in the morning- worked pretty well the last couple months. Gotta run, but I'll be back at the open. P.
My post from friday, "I was all over the downside when i saw $20 yesterday, and I posted my thoughts and plan. Monday's have a way of being more optomistic than pessamistic, so I just grabbed a few VLO $19 calls for $.90."... That's the only position I held over the weekend. Are you positioned for the premarket pop? Whatcha looking at today, W? P.