I just opened an account at ThinkorSwim. Moving from OptionsXpress

I have OX before but now I use TOS for option tradings:
http://www.thinkorswim.com/tos/displayPage.tos?webpage=whythinkorswim

If you do not have their software installed, you can use browser or call to place trade.

The trainings are great & with good price (most are free):
http://www.optionplanet.com/

Option is a great trading tool. I have been learning for a long time & have found out that I have to learn from the best like ex-option market makers.

I am in the TOS online virtual trading session today.
 
By the way:
Just have taken the TOS Trading in IRA course recently. You can trade all kind of strategies except sell naked calls & short stocks.
 
think or swim is a great place to trade - that is where I have been trading one of my IRA's for the last 2 years - the rates are great and the service even better
 
Ok..I did it...

Of course during the 5 days of ACAT transfer Wifey got a signal....

I phoned up and spoke to a very knowledgeable fellow who tried to salvage it for me...and we couldn't find anything...so I will wait for the next sig...

There is a different attitude over at TOS...I can't put my finger on it...but they are Traders I think and not brokers...

Michael B.


P.S. You guys that are lurking, you really got to call them up and chat...Wifey and I am becoming happy users already...it feels good to call them ( I have a trading authorization agreement on file for them with Wifey's IRA account).

P.P.S. They told me to mail in the statement from OX...they might still give me Wifey her 50 bucks even though it does not spell out that it is an ACAT fee...

P.P.P.S. I went ahead and sent in another 4500 bucks before we ask for 50 bucks as Wifey's account is really small...IRA's do not have a minimum opening deposit...
 
There is no contest ... Thinkorswim is far and away the best option broker that i've ever worked with.

They're software, expertise and customer service is unmatched.
 
To all,

I assume that TOS has an options analysis tool that lets you graph the outcome of multiple contracts (calendar spreads, condors, etc).

My question is. do you have to manually input the various parameters or is there a faster way to get them? I am hoping that you can somehow specify the underlying and get a display of the contracts. Then you simply select those contracts that you want to include into the graphing tool for analysis. Do they have such a feature?

I have developed an Excel spreadsheet that does this with OptionsXpress displays and that is one of the reasons I hesitate to transfer my account to TOS.

Don
 
Don,
The TOS software is really quite ingenious. ON the page that shows the option chain, there is a pull-down button that morphs the option chain to any spread imaginable(vertial, ratio, calendar,straddle,strange,iron condor,butterfly,u name it, also a +1,+2 month for a 3 mo calendar e.g.) Then u click on the desired strikes and click analyze.

Don't even get me started on this gem!lol Anyway, you can peep the p&l graph adjusting any parameter u wish(vols,interest rate, time,underlying price,etc) and contort the graph any which way. There are also other tabs which show a probability analysis of touching & expiring. But wait, there's more(I feel like I'm selling a Ronco, SEt it and FORGET IT!)

Another tab depicts the volatility skew across various strikes and time series.
What I mention is actually just the tip of the iceburg as far as their functionality goes. I hope this helps answer your question. btw, I am not affiliated with TOS besides a happy customer:)
 
Question for TOS users: how do you submit a combination order if it does not fit one of their canned strategies from the drop-down list? For instance, I want to sell a Call and Put vertical at the same strike price. The Risk Profile looks like a Butterfly (long), but it is not. I don’t know what to call it? I guess I can leg into the trade.

Any thoughts?
Rick
 
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