Active Option Traders, what is your preference?

Discussion in 'Options' started by Robert Morse, Nov 29, 2023.

When you trade options, do you prefer to use:

Poll closed Dec 13, 2023.
  1. Desktop program

    72.7%
  2. Mobile app

    3.0%
  3. I “need” both

    24.2%
  1. Robert Morse

    Robert Morse Sponsor

    Thank you. I should have specified options on equities and indexes, not options on futures. IMO, if you know in advance what you want to do, a smaller screen might be slower and lack Hot buttons/Hot keys but might be manageable. If like me, you prefer to scan current prices to determine how you want to proceed, I find that hard without the full option chain. I also recognize that not all traders are full time or want to stare at the screen all day.

     
    #21     Dec 1, 2023
  2. destriero

    destriero

    Well, I am on a desktop 95% of the time. I am simply referring to the minimum I’d need to bother with a mobile app. TDA is worthless outside of getting flat D in spot or futures. TDA is impossible to use to close a large book in SN or index due to the lack of grouping or the order of operations needed to open a complex position, error messages on strike selection, etc.

    I can’t imagine anyone using a mobile app as their sole access to vol-markets.
     
    #22     Dec 1, 2023
    Windlesham1 and newwurldmn like this.
  3. Options on indexes ARE options on futures
     
    #23     Dec 2, 2023
  4. Quanto

    Quanto

    Active traders and professionals require automation of their trades via a brokerage API.
    For example for issuing such conditional and bracket orders like:
    "After this order gets filled then immediately do this ... and this ..." etc.
     
    #24     Dec 2, 2023
  5. Robert Morse

    Robert Morse Sponsor

    SPX and VIX are Options on an index and are traded in a Securities account, not a Futures account and regulated by SEC/FINRA. Options on ES and NQ are option on futures and regulated by NFA/CFTC. Options on SPX and VIX are cleared by the OCC while Options on ES and NQ are cleared by the CME. To you as a trader, they might seem the same but are different.

     
    Last edited: Dec 3, 2023
    #25     Dec 2, 2023
  6. krowland

    krowland

    That is what is holding me back from using the TOS IOS app more. But then again, TastyTrade doesn’t have groups at all.
     
    #26     Dec 3, 2023
    destriero likes this.
  7. Robert Morse

    Robert Morse Sponsor

    What is an example of a "group" to you?

     
    #27     Dec 4, 2023
  8. krowland

    krowland

    TOS on the desktop, the positions page allows you to segregate your holdings by any number of arbitrary groups. For example I have grouped them into my Dividend stocks, Money Market and Mutual Funds, Wheel strategy positions, and importantly my pure option plays. Each group has its own subtotals and you can choose which columns of data you want to look at for each group.

    Seeing my delta position on my options separately from other holdings is helpful.
     
    #28     Dec 4, 2023
    newwurldmn likes this.
  9. newwurldmn

    newwurldmn

    etrade doesn't offer this, so i have to keep track of my positions separately through a database and excel.
     
    #29     Dec 4, 2023
  10. Robert Morse

    Robert Morse Sponsor

    On most of our platforms, we also do not offer this. Silexx has the ability to group positions but not like you are both listing. For me, I have more of a Market Maker mentality. I only want my positions grouped by underlying and see net Greeks. I look at complicated equity/option positions like soup. Once I toss in the ingredients, I only care what it tastes like. Same for positions, I only care about the nets per symbol.

     
    #30     Dec 4, 2023
    newwurldmn likes this.