Options on futures & IB

Discussion in 'Retail Brokers' started by J-Law, Dec 12, 2002.

  1. J-Law


    Anyone currently or have ever traded options on futures or futures (other tnan the E-mini or index contracts) thru IB ??

    If your trading more than one leg(options vs underlying) can you get the all the legs off in a single order.

    What were your experiences like ???

    Can you see a market ???

    Executions ????
  2. alanm


    You can only trade electronically-traded products at IB, and your orders go direct to the exchanges. They don't have people (which would be necessary) to work a future+option (or stock+option) combo for you for a net price.

    Futures calendar spreads were added in recent months, but may not be available. Not sure about inter-commodity spreads. Anyone know?

    Equity option, index option combos are available via the ISE.
  3. I trade Bonds / Notes / Bunds through IB. Unfortunately, you can only trade electronic products through them. Which necessitates additional accounts for options and cash.
  4. J-Law


    So if I have this all correct.

    I can trade options on ty note futures and I can trade TY note futures as well.
    But have to leg into positions.

    Ex. So if I wanted to buy 2 ATM TYH3 calls and short a 1 lot. This would be 2 separate orders and the futures are not open outcry but electronic.
  5. artguy

    artguy Guest

    They don't trade bond options on a/c/e, only open outcry.
  6. J-Law


    Well, just got off the phone with IB and they don't trade options on the TY Note futures.

    & that settles that.

    So does anyone know of a reasonably priced futures broker that's competitive or close to it w/ IB's rates ?
  7. Although I of course respect your trading style,
    if I was you I would no longer throw my money after
    the guys in the pits but change my trading style
    so I could trade it electronically throu IB or PATS or something.

    Maybe there is a chance you want to forget TY or US options ?
    Try ZN or ZB fut's instead with another style.
  8. J-Law



    I am for directing my orderflow away from the pit. The spreads some of those thieves (i mean MM's) quote is ridiculous.

    I'm open to that. But haven't the slighest idea of how to trade (method) the interest rate products.

    Why I asked about them initially was to trade an option based approach. A long option position with a hedge leg going into an economic report where the position would benefit from a rise in IV.

    Just trading the outright IR contract, I don't even know where to start.
  9. you could trade the european FGBL / OGBL (BUND w/ options)
    on Eurex which is deeply liquid and can be correlated best
    to the ZN. The only problem will be the time zone difference....
  10. Could anyone provide some insight on trading the bund options? Is there time/price priority? I spoke with an FCM and he said a majority of the HUGE volume is crossed upstairs and only printed on the Eurex so the retail guys don't really get to participate. If there are no trade thoughs, and I am 10 bid and it is crossed at 9 don't I get to participate? Also have been trying to get options data, my vendor- Esignal has the Bund future and not options. Any suggestions? Thanks
    #10     Jan 23, 2003