Seeking Best execution

Discussion in 'Options' started by heiasafari, Mar 25, 2013.

  1. Hi guys,

    currently trading with IB and TM, kind of fed-up with some aspects of both and looking for opinions as to where I should be looking at...

    Of IB: I am tired of the very unfriendly way one has to enter options spreads, fed up with having to break them down into 2 or 3 orders and risk slippage because of it.

    of TM: Execution is just terrible although I like the spread builder better with them.

    I am not too sensitive on comms (I don't care if I pay as much as 1.50$ per contract).

    I am looking for the best execution possible and minimal slippage. Also being able to send complex orders of more than 6 legs at once would be a huge plus... You guys know anybody who fits that bill??

    thanks in advance!
  2. exactly what are you doing with six legs?
  3. Well technically they could be seen as 2 separate transactions and placed that way but I see them really as one: Calendar and Iron butterfly combined:

    For example I might sell 6 ATM calls and puts, buy 2 of the same strike 1 month later and buy 4 calls and puts same exp as the ones I sold 30 points away from ATM. You get 6 legs, it allows you "play" with your vega, making it positive if you actually want to.