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Cannon Trading Company
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Cannon Trading Company

  #41 (permalink)
 Vendor: www.cannontrading.com 
Los Angeles, CA /USA
 
Futures Experience: Master
Platform: Sierra, CQG, TransactAT
Favorite Futures: Crude Oil
 
Ilanlm's Avatar
 
Posts: 74 since Mar 2013
Thanks: 17 given, 46 received

option sellers

Sorry for late reply!!

Most FCM's do NOT like option sellers. Higher risk and lower profitability.
One of our advantage is being a independent introducing broker so we do work with a few FCM's.

My preferred FCM for options sellers is OEC/ Gain Capital. Excellent, free software, the desk uses common sense and works with us the brokers who in turn work with the client.

I must say upfront that not all option sellers are "created the same" and by that I mean there are more than a few factors that go into the pricing of commissions for option sellers. Trading behavior, margin responsibility, account size, trading volume and more.

Our published commissions on the website apply for FUTURES. When it comes for options a conversation or email communication with perspective broker will help you quite a bit in getting an exact pricing for selling options and margin policy etc.

In general though, I honestly think that Cannon can offer probably the best set up for a few reasons, one of the main ones is that you will deal with a licensed broker, many of us with over 15 years experience, who will understand the risk of options and be able to asses rather than just simply restrict you.

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
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  #42 (permalink)
Trading for Fun
St Paul, MN, USA
 
Futures Experience: Advanced
Platform: Abacus
Broker/Data: RJO, Interactive Brokers
Favorite Futures: Commodity Futures & Options
 
Posts: 196 since Jan 2014
Thanks: 117 given, 191 received

I signed up for a demo and must have been added to a mailing list. I liked today's market memo from the big cheese at Cannon:
Hello Traders,

Today I don't have anything of value to share from the trading aspect, so will wish everyone a great evening and a good trading day tomorrow!

Levels and reports are listed below and 4th of July trading schedule is already posted on our site at:

I appreciate the honesty and brevity and wish more analysts, reporters and pundits would do the same. A lot of times there just isn't much news so they fill space fabricating reasons for why ABC went up and XYZ went down.


Last edited by CafeGrande; June 26th, 2014 at 09:29 PM.
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  #43 (permalink)
Elite Member
California
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: Index Futures
 
Haverchuck's Avatar
 
Posts: 105 since Jul 2009
Thanks: 76 given, 78 received



Ilanlm View Post
RCG says they are in the process of getting Rithmic but my speculation is it will be weeks and not days over at RCG.

Hello Cannon/Ilanlm,

Any update on the possibility of RCG supporting Rithmic?

Thnx

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  #44 (permalink)
 Vendor: www.cannontrading.com 
Los Angeles, CA /USA
 
Futures Experience: Master
Platform: Sierra, CQG, TransactAT
Favorite Futures: Crude Oil
 
Ilanlm's Avatar
 
Posts: 74 since Mar 2013
Thanks: 17 given, 46 received

@Haverchuck unfortunately Rithmic will not be supported by RCG, at least not in the near future. Will definitely keep you updated if any other news comes up regarding Rithmic and RCG.


Haverchuck View Post
Hello Cannon/Ilanlm,

Any update on the possibility of RCG supporting Rithmic?

Thnx


PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Reply With Quote
 
  #45 (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


Ilanlm View Post
Sorry for late reply!!

Most FCM's do NOT like option sellers. Higher risk and lower profitability.
One of our advantage is being a independent introducing broker so we do work with a few FCM's.

My preferred FCM for options sellers is OEC/ Gain Capital. Excellent, free software, the desk uses common sense and works with us the brokers who in turn work with the client.

I must say upfront that not all option sellers are "created the same" and by that I mean there are more than a few factors that go into the pricing of commissions for option sellers. Trading behavior, margin responsibility, account size, trading volume and more.

Our published commissions on the website apply for FUTURES. When it comes for options a conversation or email communication with perspective broker will help you quite a bit in getting an exact pricing for selling options and margin policy etc.

In general though, I honestly think that Cannon can offer probably the best set up for a few reasons, one of the main ones is that you will deal with a licensed broker, many of us with over 15 years experience, who will understand the risk of options and be able to asses rather than just simply restrict you.

I recently opened account with Cannon for futures option selling. I must say that I am very impressed with the service. When I did my first trade, I noticed that OEC added a fee to my transactions. Ilan immediately took care of it by reducing his commission rates to compensate for it.

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  #46 (permalink)
Elite Member
Charlotte NC
 
Futures Experience: Advanced
Platform: Charts:Ninja Trader w/IB, execution:TOS
Broker/Data: TOS
Favorite Futures: CL, ES, ZN, ZB, RUT.
 
Posts: 227 since Jul 2009
Thanks: 98 given, 119 received


effective View Post
I recently opened account with Cannon for futures option selling. I must say that I am very impressed with the service. When I did my first trade, I noticed that OEC added a fee to my transactions. Ilan immediately took care of it by reducing his commission rates to compensate for it.

Effective,
A few Q about cannon:

Which platform do you use?
Span margins or close to it?
What are the all in fees?

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  #47 (permalink)
Trading for Fun
St Paul, MN, USA
 
Futures Experience: Advanced
Platform: Abacus
Broker/Data: RJO, Interactive Brokers
Favorite Futures: Commodity Futures & Options
 
Posts: 196 since Jan 2014
Thanks: 117 given, 191 received

Cannon Trading - margins on short futures options

About a month ago I opened an account at Gain/OEC with Cannon Trading as the introducing broker.

My experience to date is that they use SPAN minimum margins. Earlier today I checked sample short trades (both puts and calls) in Silver, Soybeans, Soybean Oil, Natural Gas and Sugar. Using OEC Trader's POSITION window and adding "initial margin" to "option value" the result was 100% of the "initial margin" figure displayed in the CME SPAN tool (the Excel application that DudeTooth created).

I did not compare figures for trades that comprise a spread. Based on the above, I think/hope the offsets used by Gain/OEC would be very similar to what's permitted by the SPAN rules.

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  #48 (permalink)
Elite Member
California
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: Index Futures
 
Haverchuck's Avatar
 
Posts: 105 since Jul 2009
Thanks: 76 given, 78 received

Hello Cannon/Ilanlm,

Do you offer CQG QTrader as an option with RCG?

Thanks

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  #49 (permalink)
 Vendor: www.cannontrading.com 
Los Angeles, CA /USA
 
Futures Experience: Master
Platform: Sierra, CQG, TransactAT
Favorite Futures: Crude Oil
 
Ilanlm's Avatar
 
Posts: 74 since Mar 2013
Thanks: 17 given, 46 received

Hello @Haverchuck! We do offer CQG QTrader with 3 different clearing firms (Ironbeam, Dorman and RCG). Please feel free to call in the office and any broker or myself can assist you.


Haverchuck View Post
Hello Cannon/Ilanlm,

Do you offer CQG QTrader as an option with RCG?

Thanks


PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Reply With Quote
 
  #50 (permalink)
Elite Member
Cologne/Germany
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: FDAX
 
Posts: 38 since Oct 2011
Thanks: 15 given, 9 received


Hi,

Is it correct that NT chart software goes only with Dorman?
Or could one get NT with RCG as well?

Thanks

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