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Selling Options on Futures?
Started:July 19th, 2011 (06:16 PM) by ron99 Views / Replies:568,746 / 5,728
Last Reply:27 Minutes Ago (05:26 PM) Attachments:642

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Selling Options on Futures?

Old May 16th, 2014, 05:11 AM   #3271 (permalink)
Trading Apprentice
Kazan russia
 
Futures Experience: Intermediate
Platform: QST
Broker/Data: Vision
Favorite Futures: CL
 
Posts: 31 since Dec 2013
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haeloong View Post
Hi Chris,

I tried but not sure which file that you are looking for.
You may click on the "Thread Tools", choose the "Show Attachment" to find the file.
Anyway may you share the file out?
I think it is a good way to set up our plan for a trade.

Thanks.

this is my file report to use 2month strangle selling

Attached Files
Register to download File Type: xlsx statement.xlsx (22.2 KB, 72 views)
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Old May 16th, 2014, 05:27 AM   #3272 (permalink)
Trading Apprentice
Kazan russia
 
Futures Experience: Intermediate
Platform: QST
Broker/Data: Vision
Favorite Futures: CL
 
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Thanks: 2 given, 4 received


haeloong View Post
Referring to TOS platform, the /CL 94P JUL PTIM=7.5% and 105C JUL PITM=25%
The premiums are extremely rich at call options but risky.
May I know how do judge the trade position and what is your strategy for recovery/rolling if required?
Mind to share?

Thanks.

it not looks like i'm selling just what i'm writing . this is just MY range on CL expiration. someone may use it to trade comfortable for him. i use backratio spreads on puts
example : +101.5/-97-97 jul put
+101/-95-95 aug put


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Old May 16th, 2014, 10:03 AM   #3273 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
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TOS



haeloong View Post
I tried to negotiate lower commission charge with OX live help but they refused and maintained at USD6.99 per contract.
They want to me to fund more capital up to USD30K. It is also ridiculous with their crazy requirement of trading at least average 50-100 contracts weekly.

The real fact is that I cannot afford to trade large number of contracts due to my small capital account.
But high commission charge really does not encourage the trader to be with them in long term relationship.

I am using the thinkorswim platform to monitor and see all the necessary parameters for my live trading in OX.
The platform is really comprehensive and they offer the commission as low as USD3.50 per contract.
Is thinkorswim is a better choice at all?


What an inspiration for retail trades. Karen Supertrader and she uses TOS and have been from day one. Opened

first account with 10K. 2 years later addedd 100k. Took it to 150k next year. Raised $42 million from investors in 2008 and

rest is history.

Key point: As Karen said " She is a 10 year overnight succes". No need to rush into trading , PRACTICE, PRACTICE till every mistake has been made and start small.


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Old May 16th, 2014, 10:20 AM   #3274 (permalink)
Elite Member
Steubenville Ohio
 
Futures Experience: Intermediate
Platform: OX, OEC, RJO
Favorite Futures: Options on Futures
 
Posts: 179 since Sep 2012
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haeloong View Post
I tried to negotiate lower commission charge with OX live help but they refused and maintained at USD6.99 per contract.
They want to me to fund more capital up to USD30K. It is also ridiculous with their crazy requirement of trading at least average 50-100 contracts weekly.

That seems odd, OX has been at $3.50 per side for futures and options on futures, regardless of trading activity, for over a year ... unless you were looking at stock/index options.

OX Commissions


Last edited by Dudetooth; May 16th, 2014 at 10:27 AM.
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Old May 16th, 2014, 10:27 AM   #3275 (permalink)
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Richland WA/USA
 
Futures Experience: Intermediate
Platform: tws, tos
Favorite Futures: RUT, GC, CL
 
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haeloong View Post
I tried to negotiate lower commission charge with OX live help but they refused and maintained at USD6.99 per contract.
They want to me to fund more capital up to USD30K. It is also ridiculous with their crazy requirement of trading at least average 50-100 contracts weekly.

The real fact is that I cannot afford to trade large number of contracts due to my small capital account.
But high commission charge really does not encourage the trader to be with them in long term relationship.

I am using the thinkorswim platform to monitor and see all the necessary parameters for my live trading in OX.
The platform is really comprehensive and they offer the commission as low as USD3.50 per contract.
Is thinkorswim is a better choice at all?

Don't know much about OX but I am liking thinkorswim(tos). I just switched there recently from IB, which was killing with huge margins. My commissions on TOS are $2 per contract(one way, not RT) so on CL the total cost is ~3.5. This is way higher than IB where commissions are .75, but I can live with it.

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Old May 16th, 2014, 10:34 AM   #3276 (permalink)
Market Wizard
OH
 
Futures Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
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effective View Post
Don't know much about OX but I am liking thinkorswim(tos). I just switched there recently from IB, which was killing with huge margins. My commissions on TOS are $2 per contract(one way, not RT) so on CL the total cost is ~3.5. This is way higher than IB where commissions are .75, but I can live with it.

TOS does not trade a lot of different futures commodities. So check to make sure you can trade the commodities you want to trade.

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Old May 16th, 2014, 11:21 AM   #3277 (permalink)
Elite Member
Richland WA/USA
 
Futures Experience: Intermediate
Platform: tws, tos
Favorite Futures: RUT, GC, CL
 
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ron99 View Post
TOS does not trade a lot of different futures commodities. So check to make sure you can trade the commodities you want to trade.


Good point. I am currently trading Gold (GC) and Crude (CL) options. Looking to may be start on Euro (6E) and Emini (ES).

What other futures would you recommend that have good liquidity and sufficient premium for options selling?

Here is the link to futures traded on TOS
https://www.tdameritrade.com/investment-products/futures-trading.page#InterestRates

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Old May 16th, 2014, 01:02 PM   #3278 (permalink)
Trading for Fun
Lancashire UK
 
Futures Experience: Intermediate
Platform: Tradestation, Interactive Brokers, OX
Favorite Futures: ES Z CL EURJPY
 
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effective View Post
What other futures would you recommend that have good liquidity and sufficient premium for options selling?

If you look at the PCSPAN thread https://futures.io/options-cfd-trading/29125-pc-span.html Dudetooth's invaluable spreadsheet has a list of lots of liquid (and some illiquid) options that it scans for.

Enjoy!

Chris

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Old May 16th, 2014, 01:38 PM   #3279 (permalink)
Elite Member
Richland WA/USA
 
Futures Experience: Intermediate
Platform: tws, tos
Favorite Futures: RUT, GC, CL
 
Posts: 38 since Mar 2013
Thanks: 10 given, 18 received


MGBRoadster View Post
If you look at the PCSPAN thread https://futures.io/options-cfd-trading/29125-pc-span.html Dudetooth's invaluable spreadsheet has a list of lots of liquid (and some illiquid) options that it scans for.

Enjoy!

Chris

Thanks Chris! Really glad I came across this thread. Tons of information, will take me a while to get through all the posts. Hats off to ron99 for starting this.

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Old May 16th, 2014, 02:12 PM   #3280 (permalink)
Elite Member
Richland WA/USA
 
Futures Experience: Intermediate
Platform: tws, tos
Favorite Futures: RUT, GC, CL
 
Posts: 38 since Mar 2013
Thanks: 10 given, 18 received


My current strangle on CL. I typically try to keep it more or less delta neutral.

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