Hey Here is your quote.....It is what I would call "priceless".... If you stick around long enough and you still have two nickels to rub together, I want you to remember these (your own) words.... ------------------------------------------- "Hi all, I have found all the info and now I understand options". -------------------------------------------- I do wish you all the best of luck Steve
Hi there, I didn't wanted to start a new thread so I'll just ask here. Could someone recommend an option broker that let's you trade American way (American options style).
There's no such thing as the "American Way". Options are either American or European based upon the contract definition. You'll need to find which contracts you'd like to trade and then lookup whether they're American or European. For example, OEX is American style S&P 100, XEO is European style S&P 100.
I was talking about plain vanilla options. So I need a broker that would let me trade them American style.
@ryank: Unfortunately this broker does not offer currency options. Thanks for the effort anyway. @everyone else: I have changed my strategy, now I need vanilla options broker that would let me buy/sell calls/puts with a life time of 1 day. Any ideas?
As I tried to tell you, it's the contract, not the broker that dictates whether the option is American or not, and how long the expiration is. You can get an option with any expiration and any terms you want, but it's OTC, and it's not up to the broker to "let you trade" them that way, its up to you to find a market. The market will be illiquid, and likely expect you to do substantial size to be worth the while of the other party in the contract. riskarb here on ET does tons of exotic options. Perhaps he has some leads on where you might find the contracts. So, which is it, are you looking for "vanilla options" or "exotic options"?
Not to disparage your idea but I see no-zip-zero edge in buying or selling an option with only one day of life left. Well, maybe someone on the floor could make a go of it but I think retail customers would always lose. What do you see in such an approach? Peace, Lar
@FullyArticulate: Definitely vanilla options. But when I asked the people from thinkorswim.com they told me that they do not offer currency options. I understand what you are saying, but I can't buy call option for eur/usd with broker that trades only stocks options. I might be missing something here. Thanks for the replays. @lar: As soon as I get the info I wanted and start testing the strategy I'll tell to the open public. @jj90: Yes, someone always have to take the other side.