Anyone tried eOption.com?

Quote from SForce:

I don't know a lot about 606 reports etc. But from experience, if you're using limit orders on all your option orders you can mostly ignore those reports. Personally I don't think order routing matters when it comes to options (at all) as much as people try to claim it does, usually in defense of their favorite broker, but again, I know little about routing stuff. Stock orders on the other hand is another issue.

I have little experience with EOption other than the one option I bought through them(via limit order which filled the same as any other broker would have. I split the b/a and it filled almost right away). I originally opened the account to lock in a promotional rate in case I wanted it later. (They later made that promotional rate the rate you see now). I ended up not needing it.

Despite the "routing" issue the other guy keeps arguing is so relevant; there are other things to look at besides commissions. In this case I'm referring to the interface. Of the brokers I have used, EOption is the most basic, least impressive interface of all. Another reason I love my OH account.
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Completely disagree. 1 penny for 1000 shares = $10 same for a 10 lot on an option. A penny on an option price is a lot easier to find (and take if you're not seeking the best fill) and thus why many of the firms are paying so much for order flow.

At IB, the smart router gave $1.25 per contract in price improvement per contract according to an independent auditor (TAG). That's 60 cents better than the industry average. For the cash markets, IB was 42 cents better per hundred shares. The savings from better executions far exceeds your commissions.

http://www.interactivebrokers.com/en/p.php?f=smartRouting&ib_entity=llc
 
Quote from def:

Completely disagree. 1 penny for 1000 shares = $10 same for a 10 lot on an option. A penny on an option price is a lot easier to find (and take if you're not seeking the best fill) and thus why many of the firms are paying so much for order flow.

At IB, the smart router gave $1.25 per contract in price improvement per contract according to an independent auditor (TAG). That's 60 cents better than the industry average. For the cash markets, IB was 42 cents better per hundred shares. The savings from better executions far exceeds your commissions.

http://www.interactivebrokers.com/en/p.php?f=smartRouting&ib_entity=llc
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Isn't it a false propaganda and BS?

If I have a limit buy @ 1.45 per contact, why the hell my broker will fill it @ 1.43 unless market is falling rapidly.

This is only possible when they are not fast enough to execute my order at exact limit price (like I requested).

Am I missing something?

Cheers,
Sudhaker
 
Quote from sudhaker:

Isn't it a false propaganda and BS?

If I have a limit buy @ 1.45 per contact, why the hell my broker will fill it @ 1.43 unless market is falling rapidly.

This is only possible when they are not fast enough to execute my order at exact limit price (like I requested).

Am I missing something?

Cheers,
Sudhaker
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The TAG audit was for market orders. It also looks at speed of execution though which is also a big factor. If you're placing limit orders that aren't marketable, sure, you shouldn't expect price improvement. However, there are scenarios where you will:

what if when you submit the 1.45 bid there is an offer at 1.43 at another exchange the instant you're submitting the order? Will your broker re-route your order?

IB's SMART router also scans all the exchanges and will re-route an order if it can get a fill. In addition, IB offers penny increments on many markets and price improvement can also be found there.

The stats don't lie.
 
Quote from sudhaker:

I'm SOLD :-) Will join your happy IB CAMP in a month or two :-)
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Nah, I'm out of luck - their TWS won't connect from behind the proxy at work?

Does anyone connect over "3G wireless card" - Is 5GB monthly enough for TWS?
 
I recently opened an account with eOption and over the last week it's been very difficult just to make a trade. Today the system has been down between 9:30am - 10am. Yesterday 2 of my orders were rejected because the interal routing system went down temporarily. And last week I was getting bad real-time quotes (instead of real-time they were delayed about 8 minutes) .

Has anyone else been experiencing problems like this? Is this typical for eOption?

Any feedback would really be appreciated.
 
Quote from eoptiontrader:

I recently opened an account with eOption and over the last week it's been very difficult just to make a trade. Today the system has been down between 9:30am - 10am. Yesterday 2 of my orders were rejected because the interal routing system went down temporarily. And last week I was getting bad real-time quotes (instead of real-time they were delayed about 8 minutes) .

Has anyone else been experiencing problems like this? Is this typical for eOption?

Any feedback would really be appreciated.
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I've used my account for something like 3 trades. I originally got it and funded it with a real small amount just to secure a promotion they were having.

It's too much of a pain in the ass to get the small amount of $ I had in there so I occasionally make some speculative plays on it.

I put in an order a few weeks ago and I have no clue what was broken, but I was watching the (options) exchanges and the order never showed up. Took a few cancels and then 5 minutes after putting the re-order in for it to show up.

If you trade high volume contracts often just save yourself some time and go to OH.
 
Quote from TraderSU:

Isn't it a false propaganda and BS?

If I have a limit buy @ 1.45 per contact, why the hell my broker will fill it @ 1.43 unless market is falling rapidly.

This is only possible when they are not fast enough to execute my order at exact limit price (like I requested).

Am I missing something?

Cheers,
********
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Competition?
 
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