I was not the one who came up with the name "lottery ticket." However, if you are going to continue with this strategy, please be aware that your chances of winning are very low, but when you do win, it will be big. Good luck, AZD
01-26-07 01:13 AM that optionshouse sounds like a dream come true, im going to look into it. THANKS! lottery ticket player, huh? I like that, you can call me what you want, but im finding its the only way to live, ive found the conduit to financial independence for me. 1.Is it direct routing ? (please inform the author) 2.MBT 1$ per contract ,no minimum ,direct routing execution platform ,but last time have had problem's with datafeed . 3. Redsky 0.75$ ,but this demand 50000$ capital Your respectfully
I was considering all of the above (IB, OptionHouse, and ThinkOrSwim). Does anyone have any opinions about them? Some of the biggest considerations are commission rates. I traded about 1,000 option contracts this month, including a lot of moving around, but also Iron Condors, Calendar Spreads and even covered calls against stock. But then execution is even more important. How can I get the best fills, and can they deliver all 4 legs of the Iron Condor at 1 net credit? And finally, what analysis tools are available? Can they perform most of the same functions as OptionVue, so that I don't have to pay for that also? Do they have tools that will help me find options that are unusually priced or have unusual activity? And how well can they relate dividend-related price and option activity? I would really like to do something this week. So any information is important.
Whoa...with that volume, you can negotiate your rate. I have been with Thinkorswim for 6 months. ROCK-SOLID trading platform....never goes down. Great option analytics (takes time to learn their GUI however). They support complex orders as well. I'd contact Thinkorswim tomorrow and be sure to get some of the principals, not the order-takers. Your volume will get the big-guys involved.
I use IB now and I've considered opening an optionshouse account. The $9.95 flat commissions applies to each partial fill. If you ever place large limit orders between the bid/ask, you know that you're likely to get a partial fill. I've had a single order filled as 3-4 partials, so in that case I'd be charged $30-40. The other thing that bothers me is their website doesnt seem very complete. The FAQ leaves unanswered questions. I don't think you can call yourself a serious options brokerage if you don't describe how margin is computed.
Does thinkorswim charge the same rate for Equities Options as well as Futures Options? IB charges more for Futures Options per contract I believe.
It has been a few months since this thread started. I was wondering if anyone had more positive things to say about optionhouse. Also, does anyone know if they will negotiate long/short rates for someone trading say 50k contracts per month? I heard they pay no short interest which locks you out of certain positions. I suppose I have the same question about ThinkOrSwim. There are a lot of positive comments, but all the low commission joints seem to have miserable interest rates. kps