Anyone trade futures with Schwab?

[dcwriter2]

Anyone trade futures with Schwab? ThinkIng about plopping 150k into an account, if that will get me SPAN. If it does, caveats? Thinking about far out of the money ES options. Anyone know off hand what that might go for per contract?

 

[kv1289]

With futures you get span by default. It's in equities where you have to post 100K+ to get portfolio margin.

 

[CannonTrading_Ilan]

Not all brokers use SPAN, some will charge 1.5 or 2 times higher depending volatility etc.
We do charge SPAN and our platform has a margin calculator where you can see what the SPAN margins will be.
You can try the free demo here.

 

[dcwriter2]

Ok, here’s what I did, just as a test I told a three percent OTM ES call expiring tomorrow. I was told the margin would be $13,000. When I asked if that was SPAN margin, I was told, after a couple or phone transfers, that they take SPAN And add some Special Schwab risk parameters. Thus, I think, SPAN margin really depends only what the broker will do for you. I wonder what other brokers would request for margin for a similar trade?

 

[CannonTrading_Ilan]

give me the specific strikes, expiration etc. and I will share a screen shot from our margin calculator.

 

[dcwriter2]

Ok, as of right now Schwab is hitting me for 21,639.80 margin for selling 1 Es c 3580 and 1 Es C 3525.

 

[dcwriter2]

Expiring Friday

 

[CannonTrading_Ilan]

they are charging you SPAN in this case:

 

[dcwriter2]

Thanks for checking.