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Options selling on Commodity Futures friendly broker for Australia


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Options selling on Commodity Futures friendly broker for Australia

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  #1 (permalink)
IluvOptFut
Perth, Australia
 
 
Posts: 3 since Jul 2018
Thanks: 1 given, 0 received

Hi,

I live in Australia. With the new emsa regulation, my broker Saxo has posted very high margin for options selling on Commodity Futures (e.g. OZC Dec 18 500 Call Sell to Open Margin 1800USD)

Can anyone suggest options selling Commodity friendly broker for Australia / International trader?

Thank you for your help.

Regards

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  #3 (permalink)
 myrrdin 
Market Wizard
Linz Austria
 
Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker: DeCarley, IAB, RJO
Trading: Commodities
 
Posts: 1,789 since Nov 2014
Thanks: 2,932 given, 2,425 received


I have no idea about the special situation in Australia. But I can comment on the situation of a European (Austrian) trader. Situation here is similar to the situation in Australia in so far, as we both are not in the US and have additional requirements regarding money tranfer etc.

I work with DeCarley, and I am very happy with her service. Best I ever received in many years of trading. If there is a way to assist you Carley will certainly find it. I hold my funds at a European bank, which makes money transfer much cheaper and faster. Perhaps they allow for holding your money at an Australian bank.

I have a second account with IB. They are cheaper, but they have higher margins for naked short options, they liquidate your positions intraday if your margin is not sufficient, and there service is average (to be polite). Main purpose of this account is my longterm stock portfolio and hedges for this portfolio.

Best regards, Myrrdin

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  #4 (permalink)
IluvOptFut
Perth, Australia
 
 
Posts: 3 since Jul 2018
Thanks: 1 given, 0 received

Thank you myrrdin for your input...

I have contacted DeCarley and at the moment playing around with Demo Account for the free platform Zaner360.

I am mainly doing options selling on Commodity Futures, do you have any suggestion which platform or FCM with DeCarley I should use for my trading?

Thank you in advanced

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  #5 (permalink)
 myrrdin 
Market Wizard
Linz Austria
 
Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker: DeCarley, IAB, RJO
Trading: Commodities
 
Posts: 1,789 since Nov 2014
Thanks: 2,932 given, 2,425 received


IluvOptFut View Post
Thank you myrrdin for your input...

I have contacted DeCarley and at the moment playing around with Demo Account for the free platform Zaner360.

I am mainly doing options selling on Commodity Futures, do you have any suggestion which platform or FCM with DeCarley I should use for my trading?

Thank you in advanced

I am also doing a lot of option selling, and I use the free Zaner360 platform.

The platform is not perfect. Eg. it is not possible to trade all kinds of option spreads, although many types can be traded. But in case something does not work perfectly Carley helps. In this case she places the order for a complicated option trade for my account although I have a self-directed account.

Another good thing about DeCarley: They like optoin sellers and support it, whereas some other brokers obviously dislike it.

Best regards, Myrrdin

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  #6 (permalink)
IluvOptFut
Perth, Australia
 
 
Posts: 3 since Jul 2018
Thanks: 1 given, 0 received

Hi Myrrdin,

Thank you for your input

Which particular option spread strategies are you referring to? I only sell naked, strangle and ratio (e.g 3 short 1 long) and most of the time I do it one by one i.e. legging.

Do you see any issue?

Regards

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  #7 (permalink)
 myrrdin 
Market Wizard
Linz Austria
 
Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker: DeCarley, IAB, RJO
Trading: Commodities
 
Posts: 1,789 since Nov 2014
Thanks: 2,932 given, 2,425 received


IluvOptFut View Post
Hi Myrrdin,

Thank you for your input

Which particular option spread strategies are you referring to? I only sell naked, strangle and ratio (e.g 3 short 1 long) and most of the time I do it one by one i.e. legging.

Do you see any issue?

Regards

No, legging into option spreads is always possible.

I prefer entering these spreads using only one order. This is possible for many types of spreads, but for some of them it will be introduced in a couple of months (eg. Christmas Tree, long put and two different short puts with lower strike prices; all options have the same expiry date.)

You will find the possible options in the software when entering the order.

Best regards, Myrrdin

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  #8 (permalink)
peternguyen
Ho Chi Minh City
 
 
Posts: 11 since Dec 2017
Thanks: 5 given, 0 received

Hi Myrrdin,
I'm applying for an account with DeCarley following your recommendation, but the margin they quote for selling options on futures seem high. For example:
ESH20 margin $1,342
NGH20 margin $3,364
I expect SPAN margin to be around $300-$400. Could you please check how much they charge you for the margin on these contracts?
Thanks
Peter


myrrdin View Post
I am also doing a lot of option selling, and I use the free Zaner360 platform.

The platform is not perfect. Eg. it is not possible to trade all kinds of option spreads, although many types can be traded. But in case something does not work perfectly Carley helps. In this case she places the order for a complicated option trade for my account although I have a self-directed account.

Another good thing about DeCarley: They like optoin sellers and support it, whereas some other brokers obviously dislike it.

Best regards, Myrrdin


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  #9 (permalink)
 myrrdin 
Market Wizard
Linz Austria
 
Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker: DeCarley, IAB, RJO
Trading: Commodities
 
Posts: 1,789 since Nov 2014
Thanks: 2,932 given, 2,425 received


peternguyen View Post
Hi Myrrdin,
I'm applying for an account with DeCarley following your recommendation, but the margin they quote for selling options on futures seem high. For example:
ESH20 margin $1,342
NGH20 margin $3,364
I expect SPAN margin to be around $300-$400. Could you please check how much they charge you for the margin on these contracts?
Thanks
Peter

What options are you talking about ? Put or Call ? Which strike ? Which expiry date ?

Margin depends significantly on all these factors.

There are many options on the ES future which have span margins of significantly above $400.

Best regards, Myrrdin

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