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Options on ES futures margin/assignment
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Options on ES futures margin/assignment

  #1 (permalink)
Trading Apprentice
Oklahoma City USA
 
Trading Experience: Intermediate
Platform: Multicharts
Favorite Futures: ES
 
Posts: 47 since Oct 2016
Thanks: 0 given, 1 received

Options on ES futures margin/assignment

Hello all,

I'm wondering which broker is cheapest to trade ES futures options. I like TDA because they have TOS platform. But want to know if they charge exercise and assignment at expiration? or who offer the best in term of margin and/or commission?

also does the ES weekly options expire and settle in cash or will there be actual assignment into ES futures contracts? I assume not, but I'm unsure.

any feedbacks are appreciated.

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
Linz Austria
 
Trading Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker/Data: DeCarley, IAB, RJO
Favorite Futures: Commodities
 
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hoang101483 View Post
Hello all,

I'm wondering which broker is cheapest to trade ES futures options. I like TDA because they have TOS platform. But want to know if they charge exercise and assignment at expiration? or who offer the best in term of margin and/or commission?

also does the ES weekly options expire and settle in cash or will there be actual assignment into ES futures contracts? I assume not, but I'm unsure.

any feedbacks are appreciated.

You ask for the cheapest broker to trade ES options. This is IB. But I definitely would not recommend them to option sellers, as they do not support this at all.

You find a lot of information regarding brokers for option selling (including information why not to sell options with IB) in the threads "Selling Options on Futures" and "Diversified Option Selling Portfolio".

Best regards, Myrrdin

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  #4 (permalink)
Trading Apprentice
Oklahoma City USA
 
Trading Experience: Intermediate
Platform: Multicharts
Favorite Futures: ES
 
Posts: 47 since Oct 2016
Thanks: 0 given, 1 received


myrrdin View Post
You ask for the cheapest broker to trade ES options. This is IB. But I definitely would not recommend them to option sellers, as they do not support this at all.

You find a lot of information regarding brokers for option selling (including information why not to sell options with IB) in the threads "Selling Options on Futures" and "Diversified Option Selling Portfolio".

Best regards, Myrrdin


Yes I have read those threads you mentioned. IB has higher margin rate and their added margin on top of SPAN doesn't goes with me. added the horrible stories with regarding to liquidation then I would never open account with them.

I still have remaining question on ES futures options. if my long or short options is ITM I will get assigned or exercise, my question is will I get assigned into a futures contracts or do I receive the actual profit (cash only). Also will I get charge exercise/assignment fee for ES futures options? I don't see it on any brokers site.

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  #5 (permalink)
Market Wizard
Linz Austria
 
Trading Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker/Data: DeCarley, IAB, RJO
Favorite Futures: Commodities
 
Posts: 1,455 since Nov 2014
Thanks: 1,805 given, 1,812 received
Forum Reputation: Legendary


hoang101483 View Post
Yes I have read those threads you mentioned. IB has higher margin rate and their added margin on top of SPAN doesn't goes with me. added the horrible stories with regarding to liquidation then I would never open account with them.

I still have remaining question on ES futures options. if my long or short options is ITM I will get assigned or exercise, my question is will I get assigned into a futures contracts or do I receive the actual profit (cash only). Also will I get charge exercise/assignment fee for ES futures options? I don't see it on any brokers site.

You find the information regarding assignment on the CME site in the contract specification:

"Option exercise results in a position in the underlying cash-settled futures contract. Options which are in-the-money on the last day of trading are automatically exercised. A 4:00 p.m. ET price fixing based on the weighted average traded price fixing (symbol ESF) of the E-mini S&P 500 futures in the last 30 seconds of trading on expiration day (3:59:30 p.m.-4:00:00 p.m. ET) will be used to determine which options are in-the-money. Contrarian instructions are prohibited."

Regarding fees I suggest you contact your broker.

Best regards, Myrrdin

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  #6 (permalink)
Trading Apprentice
Oklahoma City USA
 
Trading Experience: Intermediate
Platform: Multicharts
Favorite Futures: ES
 
Posts: 47 since Oct 2016
Thanks: 0 given, 1 received


myrrdin View Post
You find the information regarding assignment on the CME site in the contract specification:

"Option exercise results in a position in the underlying cash-settled futures contract. Options which are in-the-money on the last day of trading are automatically exercised. A 4:00 p.m. ET price fixing based on the weighted average traded price fixing (symbol ESF) of the E-mini S&P 500 futures in the last 30 seconds of trading on expiration day (3:59:30 p.m.-4:00:00 p.m. ET) will be used to determine which options are in-the-money. Contrarian instructions are prohibited."

Regarding fees I suggest you contact your broker.

Best regards, Myrrdin

Yes I read that statement as well. from the sound of it I will get exercise if I'm ITM. But some guy say it will be settled in cash instead of underlying so now I'm confused but yeah I'll call my broker

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