Hi, Over the past few years a lot of online prop firms have sprung up like TopStep trader and so on where the firms will allocate you capital to trade for a profit split. Is anyone aware of a company that backs options traders, via an online prove yourself process then get funded like TopStep? They all seem to be for Futures/FX traders. Thanks
Thanks for the reply, should have mentioned but SMB was the only one I was aware of. They are a great firm, however generally want very in depth track records etc (which I totally appreciate and its good for them to do). But my background was in futures trading which I did as a prop trader for 12 years. Its only the last year or so I have switched to options trading so track record wouldn't meet SMBs criteria as its still quite fledgling but I am confident enough to see it has some good potential. The firms like TopStep generally just want you to sim trial trade for only a couple of months and then bring you into their funded trader program. There are 5 or 6 firms doing this now which is really innovative, unfortunately only for futures and FX outright traders from what I see.
How much headache (sorry, capital) are you looking to get? In my view having traded for 12 years at a prop shop should have equipped you with a well stocked personal account to fund yourself and trade all for yourself, or? Of course there are always personal tragedies (divorce, illness, idiot brother in-laws and funding their business adventures) that can wipe a good amount of personal wealth .
A wedding and a house purchase in the same year see to that in my case! I also have multiple investment/ trading accounts and getting an additional 50k for 20% of my profits is reasonable for me.
https://www.elitetrader.com/et/threads/options-meetup-west-london.336318/#post-5461727 This options group is now on zoom and open to anyone.
Options are tough for prop. Either you are well capitalized with an expensive set up for market making, or you are position trading them. The low frequency of position trading makes it hard to accumulate statistical significance.