Selecting an appropriate precious metals (Nymex) broker for the infrequently dealing

Discussion in 'Options' started by keithverona, Feb 22, 2007.

  1. I know this is EliteTrader, but I am certainly not about to become a TRADER of Silver options, but I would appreciate some expert(s) advice. I am a 'successful' long-and-hold equities investor, but want a very long-term leveraged play on the price of silver with limited downside.

    I want to hold one or two contracts worth of call options on the July or December 2009 5000 oz. Silver contract at Nymex/Comex for a very long time (not necessarily to expiry). Which broker would you suggest to avoid "inactivity fees" etc. A little human hand-holding would be nice, to make sure the decimal point is in the right place :) (only joking!)

    Is the current price for these infrequently trading options NYMEX's web site or is there a better place? (I also know there is the CBOT option on futures, but I just want a really long-term option)

    Thank you all for your help and other guidance. Ciao!


    P.S. I have been playing around with thinkorswim (TOS) software, which is helpful for simulating trades on options in general, but which as far as I can find out does not support the options contract I am interested in (unless you know better).
  2. I think your best bet would be with Xpresstrade . They have exactly what you are looking for. $10 commisions with options on futures (add $10 if broker assisted) , and they don't charge an inactivity fee. Hope that helps.