options house and API

any one know's or have used API trading platform with option's house before? I like the commotion that they charge, .15 cents per contract, but the platform is not world class, I need to use API program, if anyone know's of a good API platform that they have used in the past, please let me know as I am looking for one.

 

I've used Interactive Brokers TWS API for a long time and it did everything that was expected of it. Event driven, gives all the messages you need, accepts all sorts of request types, etc. The only downside is comissions are different when placing orders with the API but I believe that is so with most other firms.

If you are looking for leg construction for options, it will work well. It can also monitor several charts in real time so you can code a monitor for looking at legs with the same and different implied volatility if you want to create a long-short position on vega. It will also calculate most of the greeks for you if you don't want to do it yourself.

 

For trading options with a strategy, you could use a platform like Actant Extreme which uses scripting and a direct connection to a quote server like Activ, then DMA to the exchanges. Using an API for option might be too slow. The platform is not cheap, but worth it for what it does. And, it's ready to go with pre-written scripts from Actant, and they will help you write your own. PM me if you'd like more information with your contact info.

Bob

 

Apologies if I'm not in the right thread. But perhaps someone can help me. I'm considering buying 2 stocks & holding them. I’d like to make broker-assisted (versus on-line) trades, have low rates & no fees for maintenance or minimum balance—so Options House is perfect for me for all those reasons. However, I’d like reassurance that if I use Options House, my money is insured. Their website states that they are covered by SIPC, which protects against the insolvency of a brokerage firm. My main concern is what if the worst case scenario happens, what happens to my $? For me, though trading stocks is not my forte, the following is a red flag—as it appears that the owners of Option House (in different corporate structures) have an unusually large revolving line of credit (from a relative): http://biz.yahoo.com/e/111223/rmlx.ob8-k.html

Basic question: is this normal, not relevant, or a red flag & something I should be concerned about, or not? Does SIPC—like FDIC—provide sufficient insurance if the brokerage firm encounters any insolvency issues? Thank you for your response.