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Selling Options on Futures?
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Created: by ron99 Attachments:735

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Selling Options on Futures?

  #2071 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,700 since Jul 2011
Thanks: 781 given, 4,721 received
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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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  #2072 (permalink)
Trading for Fun
Huntsville AL/USA
 
Futures Experience: Intermediate
Platform: optionsXpress
Favorite Futures: Options on Futures
 
Posts: 54 since May 2012
Thanks: 80 given, 26 received


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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  #2073 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,700 since Jul 2011
Thanks: 781 given, 4,721 received
Forum Reputation: Legendary


Same requirements for me for reg and IRA accounts. 170.17.

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  #2074 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,700 since Jul 2011
Thanks: 781 given, 4,721 received
Forum Reputation: Legendary

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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  #2075 (permalink)
Trading Apprentice
Adelaide Australia
 
Futures Experience: Beginner
Platform: OX
Favorite Futures: Futures options
 
Posts: 15 since Apr 2013
Thanks: 83 given, 10 received


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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  #2076 (permalink)
Trading for Fun
Huntsville AL/USA
 
Futures Experience: Intermediate
Platform: optionsXpress
Favorite Futures: Options on Futures
 
Posts: 54 since May 2012
Thanks: 80 given, 26 received


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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  #2077 (permalink)
Trading Apprentice
Adelaide Australia
 
Futures Experience: Beginner
Platform: OX
Favorite Futures: Futures options
 
Posts: 15 since Apr 2013
Thanks: 83 given, 10 received


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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  #2078 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
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Broker/Data: various
Favorite Futures: futures
 
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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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  #2079 (permalink)
Trading Apprentice
Adelaide Australia
 
Futures Experience: Beginner
Platform: OX
Favorite Futures: Futures options
 
Posts: 15 since Apr 2013
Thanks: 83 given, 10 received


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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  #2080 (permalink)
Market Wizard
Cleveland, OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 2,700 since Jul 2011
Thanks: 781 given, 4,721 received
Forum Reputation: Legendary


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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