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PC-SPAN
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Created: by ron99 Attachments:160

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PC-SPAN

  #501 (permalink)
Cleveland, OH
 
Trading Experience: Advanced
Platform: QST
Broker/Data: QST, DeCarley Trading, Gain
Favorite Futures: Options on Futures
 
Posts: 3,004 since Jul 2011
Thanks: 924 given, 5,500 received


peternguyen View Post
Thank you. I'm Australian citizen so probably can.
Any other broker do you recommend? I will try the other if RJObrien doesn't accept me.
What trading platform do you use? is it user friendly?

Those margins quoted by Dudetooth are exchange minimum margins or SPAN margins. Nobody can have lower margins. Some have higher margins.

I use DeCarley Trading. Excellent customer service.
http://www.decarleytrading.com/

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The following user says Thank You to ron99 for this post:
 
  #502 (permalink)
Steubenville Ohio
 
Trading Experience: Intermediate
Platform: OX, OEC, RJO
Favorite Futures: Options on Futures
 
Posts: 264 since Sep 2012
Thanks: 30 given, 272 received


peternguyen View Post
Any other broker do you recommend?

My main account is with RJO. I have a small account with Schwab / Schwab Futures (used to be OptionsXpress). Not sure about non-US accounts.


peternguyen View Post
What trading platform do you use? is it user friendly?

I use RJO's web-based platform called WEBOE. It is fairly simplistic, though placing an order takes a little getting used to (if selling a credit spread you have to designate the Premium Side), but it has all the tools I need to get the job done.

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  #503 (permalink)
Ho Chi Minh City
 
 
Posts: 9 since Dec 2017
Thanks: 5 given, 0 received


I just contacted RJOBrien and they tell me that the margin requirement for selling Option is the full margin of a futures contract. That would be extremely high.
Here are the margin they require for the above 2 contracts:

Margin on E-mini S&P is $4500
Margin on Nat gas is $2750

How do you get those margin Dudetooth?


Last edited by peternguyen; December 15th, 2017 at 12:44 PM.
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  #504 (permalink)
Ho Chi Minh City
 
 
Posts: 9 since Dec 2017
Thanks: 5 given, 0 received


ron99 View Post
Those margins quoted by Dudetooth are exchange minimum margins or SPAN margins. Nobody can have lower margins. Some have higher margins.

So it is not the actual margin that OJBrien charges? What would be the amount that the DeCarley holds as the margin for the above 2 contracts?
Thanks

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  #505 (permalink)
Steubenville Ohio
 
Trading Experience: Intermediate
Platform: OX, OEC, RJO
Favorite Futures: Options on Futures
 
Posts: 264 since Sep 2012
Thanks: 30 given, 272 received


peternguyen View Post
I just contacted RJOBrien and they tell me that the margin requirement for selling Option is the full margin of a futures contract. That would be extremely high.
Here are the margin they require for the above 2 contracts:

Margin on E-mini S&P is $4500
Margin on Nat gas is $2750

There seems to be a misunderstanding?

It could be a misunderstanding with the person you are in contact with. I was able to look up the margin guide for RJO in the UK and it was the same as the US margin guide.

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  #506 (permalink)
Ho Chi Minh City
 
 
Posts: 9 since Dec 2017
Thanks: 5 given, 0 received


Dudetooth View Post
It could be a misunderstanding with the person you are in contact with. I was able to look up the margin guide for RJO in the UK and it was the same as the US margin guide.

This is their reply:

Peter, thank you for reaching out to RJO. At the bottom of the email there is a link that says “open a futures trading account”. Please click that link and complete the application.

Margin on E-mini S&P is $4500
Margin on Nat gas is $2750

RJO is a little more strict on option sellers, so if you over leverage or are too heavy on one position, they may look at having you send additional funds.

Thank you

TONY CHOLLY
Senior Market Strategist
Series 3 Licensed

tcholly@rjofutures.com
d (312) 373-4968 // tf (800) 826-2270 // f (312) 373-5278

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  #507 (permalink)
Ho Chi Minh City
 
 
Posts: 9 since Dec 2017
Thanks: 5 given, 0 received


Dudetooth View Post
It could be a misunderstanding with the person you are in contact with. I was able to look up the margin guide for RJO in the UK and it was the same as the US margin guide.

Dudetooth could you please check again with your RJOBrien broker what margin they charge for those 2 trades?
and I'm not asking about the margin from the 14th of Dec risk files from CME. I mean the actual margin that your broker charges.
Thanks heaps.

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  #508 (permalink)
Steubenville Ohio
 
Trading Experience: Intermediate
Platform: OX, OEC, RJO
Favorite Futures: Options on Futures
 
Posts: 264 since Sep 2012
Thanks: 30 given, 272 received


peternguyen View Post
This is their reply:

Peter, thank you for reaching out to RJO. At the bottom of the email there is a link that says “open a futures trading account”. Please click that link and complete the application.

Margin on E-mini S&P is $4500
Margin on Nat gas is $2750

RJO is a little more strict on option sellers, so if you over leverage or are too heavy on one position, they may look at having you send additional funds.

Thank you

TONY CHOLLY
Senior Market Strategist
Series 3 Licensed

tcholly@rjofutures.com
d (312) 373-4968 // tf (800) 826-2270 // f (312) 373-5278

Sounds like that guy was just giving you the basic margin info from the margin guide (full futures contract).

You can try contacting Mike Sabo ... msabo@rjofutures.com ... d (312) 373-5248 ... I know he is up to speed on selling options.

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  #509 (permalink)
Steubenville Ohio
 
Trading Experience: Intermediate
Platform: OX, OEC, RJO
Favorite Futures: Options on Futures
 
Posts: 264 since Sep 2012
Thanks: 30 given, 272 received


peternguyen View Post
Dudetooth could you please check again with your RJOBrien broker what margin they charge for those 2 trades?
and I'm not asking about the margin from the 14th of Dec risk files from CME. I mean the actual margin that your broker charges.
Thanks heaps.

RJO charges what is called Total margin (SPAN margin + value of option). So if the option you sold is worth $80 and the SPAN margin is $280 then Total margin would be $360.

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  #510 (permalink)
Ho Chi Minh City
 
 
Posts: 9 since Dec 2017
Thanks: 5 given, 0 received



Dudetooth View Post
Sounds like that guy was just giving you the basic margin info from the margin guide (full futures contract).

You can try contacting Mike Sabo ... msabo@rjofutures.com ... d (312) 373-5248 ... I know he is up to speed on selling options.

Thanks heaps. Calling him now.

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