Options on Futures Brokers

Discussion in 'Retail Brokers' started by burrben, Sep 27, 2005.

  1. burrben


    I'm looking to trade options on the ES, and I know IB trades them. Is there anyone else I should consider going with? I'm not a big fan of IB's java based platform.

    I'm looking to do credit spreads and iron condors on the ES so have a easy to use option chain (ala optionsxpress) with spread prices is essential.

    Any help?

  2. zxcv1fu


    I have hard time to find IB future option symbols, forget about trading.
  3. ids


    The information is located in place that is very easy to find:
    From main menu it is TRADING/Exchanges/North America/CME(GLOBEX).
    S&P and Dow futures options are picking up in popularity and multiple customers of IB are trading them. I believe, anybody will appreciate real time SPAN margin calculations that we provide for GLOBEX futures options. I definitely recommend IB if you are looking for S&P option spreads. Our margins are as tight as possible.
  4. burrben


    I'm currently using OptionsXpress to trade SPX/OEX/RUT credit spreads. I'm not doing any futures options trading now. Would I still use SPAN margin with IB?

  5. ids


    Sorry, SPAN cannot be used for US index and stock options by any broker. GLOBEX and eCBOT support it. You need to work with futures options to get SPAN margins.
  6. margin is much lower
  7. zxcv1fu


    I was looking for the oil & gold future options in IB & could not find them:(
  8. just21


    IB are waiting for a market maker to start in the IPE brent crude options so they can test the programming they have done so far. Not aware of any gold options that are electronically traded.

    They're is a problem with TWS if you ask for the complete (all months) option chain, you reach your quote limit and other symbols you are looking at stop updating or disappear. if you have this problem just define expiry on the left in option trader before you click on load chains.

    IDS, Any news when this problem should be fixed?
  9. burrben


    Lower using SPAN? For example a normal trade would be
    With the SPX trading at 1215
    A Bull Put Spread:
    -10 1175 OCT SPX PUT
    +10 1165 OCT SPX PUT

    for say a credit of 1.00$
    OptionsXpress holds the difference between the strikes * # of contracts - the credit. So for the above trade, they would require approx 10,000 in cash or marginable holdings (like t-bills), to be held as "Option Requirements".

    What would be similar using options on the ES, and what would I need to hold in "option requirements"? Is this any different with span? Would I be able to have more leverage for my cash?

    PS: If I took the bull put spread and added a bear call spread, to form a iron condor, OX would still only hold the $10K since both sides can't lose. What would happen with SPAN?

  10. ids


    You can use multiple pages if your option chain does not fit in one page. Your limits will grow if you trade actively.
    #10     Sep 28, 2005