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Options Trading Platforms
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Created: by sysot1t Attachments:21

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Options Trading Platforms

  #31 (permalink)
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CQG Platform

@TonyB triggered my curiousity to see if there could indeed be a single platform from which to trade without having to use anything else. I initially stated, no; but then as I thought about it I wanted to find out myself. This is what I have found so far.

Available to retail, the only platform where it seems one can trade everything under the sun would be CQG Integrated Client.

The only thing that I cant confirm 100% is that one can trade equities through it. I have a call into my assigned account exec to see what she says. It all comes at a nice cost of course, around $2K per month with all bells and wistles..

Attached Thumbnails
Options Trading Platforms-exec_cqgic.pdf   Options Trading Platforms-optionstrading.pdf   Options Trading Platforms-ordertypematrix.pdf   Options Trading Platforms-exec_cqgtradingcomparison.pdf   Options Trading Platforms-cashforextrading.pdf   Options Trading Platforms-usexchangefees.pdf   Options Trading Platforms-usmonthlypriceschedule.pdf   Options Trading Platforms-tradingwithcqg.pdf  
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  #32 (permalink)
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TonyB View Post
Think MC has plans to incorporate more into their options offering?

they are not an options platform, and they are still working on getting their trading (non-auto) functionality working, so doubt they will get to it for years to come... in the other hand, Tradestation9 might be a better option for you.. have you looked at them? you cant do complex auto trading orders, but worth looking at it.

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  #33 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
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You can Trade Equities, Stock Options and Futures via R|Trader.
I am always planning to work on my licensing so I can offer this to clients via Rithmic as well.
With this all futures trading I only sleep 4 hours a night now...so going to 3 should not be an issue

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #34 (permalink)
Go Bears!
Bay Area, CA - US
 
Futures Experience: Beginner
Platform: TOS, TS & MC
Broker/Data: TDA & TS
Favorite Futures: Stock, Options and now Futures (ES)
 
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Posts: 514 since Dec 2010
Thanks: 227 given, 134 received

sysot1t, I appreciate the follow-up. It wasn't going to be a deal-breaker if the platform of choice couldn't handle all my options needs, but figured what the heck, now is the time to ask these questions before the huge time investment... Both SC and MC seem to have much to offer and looking for differentiators, and weighing them is where I'm at now.

I'll look at CQG some more. I had not researched it previously. Not sure why. It does backtesting:

CQG Trade System and Backtesting Tools

Good find sysot1t. Looks like a firm called Optimus Trading Group has this platform. I've heard of them...

Matt, I saw your PM earlier. I was just too busy to reply thoughtfully. I'll get back soon, thanks.

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  #35 (permalink)
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mattz View Post
You can Trade Equities, Stock Options and Futures via R|Trader.
I am always planning to work on my licensing so I can offer this to clients via Rithmic as well.
With this all futures trading I only sleep 4 hours a night now...so going to 3 should not be an issue

R|Trader is merely order entry, no different than using NT7/MC.. it does allow you to create some strategies, it still provides no analytics, so it is not an options trading platform...

actually, NT7/MC in this case would be better than R|Trader given one can chart with NT7/MC, and enter simple orders.. but it comes down to requirements of the trader in the end..

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  #36 (permalink)
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TonyB View Post
sysot1t, I appreciate the follow-up. It wasn't going to be a deal-breaker if the platform of choice couldn't handle all my options needs, but figured what the heck, now is the time to ask these questions before the huge time investment... Both SC and MC seem to have much to offer and looking for differentiators, and weighing them is where I'm at now.

I'll look at CQG some more. I had not researched it previously. Not sure why. It does backtesting:

CQG Trade System and Backtesting Tools

CQGIC can do backtesting and much more... you can auto trade manual setup, system trade, spreadstrade, etc... I mean... there are so many things the tool can do... there is a reason why it is used by pro's... I have been aware of it, but learning to use it is expensive as it would mean I have to pay $2K a month just to be in demo for months while I learn it....

I guess I leave you to your scorecard and determining what platform best suits your needs...

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  #37 (permalink)
Go Bears!
Bay Area, CA - US
 
Futures Experience: Beginner
Platform: TOS, TS & MC
Broker/Data: TDA & TS
Favorite Futures: Stock, Options and now Futures (ES)
 
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Posts: 514 since Dec 2010
Thanks: 227 given, 134 received

Agreed. Way overkill, for me at least. Of course, not keen on the price too...

sysot1t, this has been constructive. As I had shared, I seldom do my options homework / analysis during mkt hours. It's almost always done at night. I backtest a strat, possibly a few, and if anything surfaces as a buy (based upon criteria in the strat), it merits my attention, and off I go charting the underlying, analyzing, and deciding if I want to employ options, and if so how. When done, I know how I'll respond, if at all...

So, the majority of the time I know my course of action before the mtk open. In these instances, MC will suffice with the charting and orders. TOS will do the heavy lifting beforehand, still. Would have been nice to have this platform be more robust option-wise, but it is what it is, now at least.

If I hear something interesting from MC regarding options, I will share. Thanks again.

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  #38 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,061 since Sep 2010
Thanks: 1,934 given, 2,787 received
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sysot1t View Post
R|Trader is merely order entry, no different than using NT7/MC.. it does allow you to create some strategies, it still provides no analytics, so it is not an options trading platform...

actually, NT7/MC in this case would be better than R|Trader given one can chart with NT7/MC, and enter simple orders.. but it comes down to requirements of the trader in the end..

I never said it is an options platform. You said to "trade from" and I thought you referred to execution specifically.
Was just trying to be helpful.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #39 (permalink)
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LiveVol

This is a very interesting tool for option analysis and idea generation that I came across last night while doing research.

Stock Options Analysis & Options Trading Tools | Livevol

It is about $250/month or $$3K/year... and they have a free trial which I am planning on starting next week. I like some of the metrics and details it provides on analyzing the order flow to figure out direction. They also have an excel plug-in, which means one can integrate and trade off excel based on their analysis.

Free Trial Info
LIVEVOL&#8482 Pro: Free Non-Professional Trial

Documentation
LIVEVOL® Help
LIVEVOL®: Livevol Excel
LIVEVOL®: Livevol Market Scanner

Attached Thumbnails
Options Trading Platforms-e_and_d_tab_large.gif   Options Trading Platforms-market_tab_large.gif   Options Trading Platforms-scanner_tab_large.gif   Options Trading Platforms-stats_tab_large.gif   Options Trading Platforms-charts_tab_large.gif   Options Trading Platforms-lvrb_results_butterfly.gif   Options Trading Platforms-options_tab_large.gif   Options Trading Platforms-sitemap_lve_snap.gif   Options Trading Platforms-time_and_sales_tab_large.gif  
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  #40 (permalink)
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TonyB View Post
Agreed. Way overkill, for me at least. Of course, not keen on the price too...

the price itself, to be honest, is not bad... $2K is unlimitted contracts, so with someone like DDT/Crossland you basically pay $1RT for comms, plus exchange fees. It is great if you are doing large volume. The second reason why the price is not bad is because you can automate your trade management and base your stops and targets of indicatos, etc. which allow you to then just bring up a lot more markets and then monitor the trade Real Time and just adjust things.. kind of like a pilot guiding the plane in autopilot with all the instrumentation doing their parts and you just jumping in when there is the need to make an adjustment...

but because of the steepness of learning the platform, the price sucks... if one worked for a desk that is another story, you get it and the desk pays for it, but when it comes from your pocket it is harder to justify the business expense if there is no revenues being generated..

oveall, $2K for a great platform that could easily be the difference between you making $5K o $25K a day is worth the $2K per month... just my thoughts..

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