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Selling Options on Futures?
Started:July 19th, 2011 (06:16 PM) by ron99 Views / Replies:567,999 / 5,727
Last Reply:Yesterday (12:40 PM) Attachments:642

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Selling Options on Futures?

Old September 16th, 2013, 01:33 PM   #2071 (permalink)
Market Wizard
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Raven View Post
I didn't notice a change in my buying power. I noticed it when I was trying to place the exact same trade in both accounts.

What page are you seeing these margins?

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Old September 16th, 2013, 01:41 PM   #2072 (permalink)
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ron99 View Post
What page are you seeing these margins?

From the Trade Calulator
From my IRA:

Sell -1 (CLZ375P) 0.05 ($50.00)
Requirements

Total Cost ($50.00)
Initial Requirement $246.75
Maintenance Requirement $224.32
Total Requirements $246.75
Estimated Commission $3.50

From my Regular Account:

Sell -1 (CLZ375P) 0.05 ($50.00)
Requirements

Total Cost ($50.00)
Initial Requirement $170.17
Maintenance Requirement $154.70
Total Requirements $170.17
Estimated Commission $3.50

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Old September 16th, 2013, 01:49 PM   #2073 (permalink)
Market Wizard
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Same requirements for me for reg and IRA accounts. 170.17.

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Old September 16th, 2013, 05:25 PM   #2074 (permalink)
Market Wizard
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FWIW Normal seasonal tendencies are for ES, CL, KC, CT and grains to drop the last 2 weeks of Sep.

Of course Fed mtg on Wed will heavily influence it more this year than most years.

I am pretty light now position wise.

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Old September 16th, 2013, 07:59 PM   #2075 (permalink)
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Raven View Post
I didn't notice a change in my buying power. I noticed it when I was trying to place the exact same trade in both accounts.

Looks like you are getting a "Futures Concentration " margin call like I just got for having too many CL contracts.

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Old September 16th, 2013, 08:04 PM   #2076 (permalink)
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turch View Post
Looks like you are getting a "Futures Concentration " margin call like I just got for having too many CL contracts.

You nailed it! A bunch of them expire tomorrow. Do I need to make a call or does it go away at some point?

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Old September 16th, 2013, 08:19 PM   #2077 (permalink)
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Raven View Post
You nailed it! A bunch of them expire tomorrow. Do I need to make a call or does it go away at some point?

Give them a call,but make sure you speak to the guy that wrote the "Futures Concentration" email, Robert Pandy, (wrote mine). After telling him my account was up 300% for the year with no losing trades mostly in CL, he told me, "oh you trade CL a bit?I did not check". Basically in their (OX) system, if a red light goes off,there are no questions asked. Initially I spoke with the guys on the futures desk both giving a standard you need to close out some positions answer. No help at all.My existing CL 's were due to expire in 7 days, well OTM. I mean come on.They got $600 in commission out of me. Very frustrating. This happened last week, I'm still mad.
Anyway, hope this helps. Call them, to be sure.

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Old September 16th, 2013, 08:54 PM   #2078 (permalink)
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turch View Post
Give them a call,but make sure you speak to the guy that wrote the "Futures Concentration" email, Robert Pandy, (wrote mine). After telling him my account was up 300% for the year with no losing trades mostly in CL, he told me, "oh you trade CL a bit?I did not check". Basically in their (OX) system, if a red light goes off,there are no questions asked. Initially I spoke with the guys on the futures desk both giving a standard you need to close out some positions answer. No help at all.My existing CL 's were due to expire in 7 days, well OTM. I mean come on.They got $600 in commission out of me. Very frustrating. This happened last week, I'm still mad.
Anyway, hope this helps. Call them, to be sure.

Can you share the e-mail, if you can?

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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Old September 16th, 2013, 09:01 PM   #2079 (permalink)
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kevinkdog View Post
Can you share the e-mail, if you can?

I don't mind sharing the email, I just don't know how to get it on this thread.
There are monkeys out there with computer skills better than mine.

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Old September 16th, 2013, 09:17 PM   #2080 (permalink)
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I had one of those once after I had a margin call. But never without having a margin call first.

Surprised they do it on one account and not all of your accounts.

When they put that on my accounts they added more margin required for current positions.

I suspect this is a new procedure. I knew Schwab was going to ruin the good thing were had there.

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