IB Suggestions & Improvements

[IBsoft]

Quote from d9d:

re: Global Default for Handling Options at Expiration.

I would like to see the above implemented.

I'd like to be able to set a -global- default which says "do NOT exercise any options on expiration day....cash them out instead".

This would be wonderful for peace of mind, and save a lot of line-by-line work doing it on individual issues one at a time.

Unless it's already been added in 851? I've only had that version for a few days...perhaps I missed the feature if it's there.

thanks!

What does it mean cash them out instead? Please explain what should happen and at what time with options that are:
a) in the money
b) at the strike very close to the projected settlement price (i.e. they still have some time value left)

Thanks.

 

[Babak]

This is trivial but a few newbie people I directed to IB have been scratching their heads trying to understand your margin page.

http://www.interactivebrokers.ca/en/trading/marginRequirements/canadianStocksCA.php?ib_entity=ca

NOTE: The following formulas make use of the function If (x, y, z). The If function checks a condition and if true uses formula y and if false formula z. As an example If (20 < 0, 30, 60) would return the value 60. Note also that Margin requirements quoted in US dollars may also be satisfied with a non-US Dollar equivalent.

I know to a programmer this is crystal clear, but for the avg Joe, could you guys write that out in plain old English?

Something like, if the price is greater than $2 Cdn. then initial margin requirement is 50% of stock value...

 

[osho67]

I would like to be able to place simulated trades but using live prices on the TWS platform, the demo account only has 15 minute delayed prices.

So perhaps the user account can have a switch to allow simulated trades or preferably the demo account can show live prices instead of delayed quotes.

 

[IBsoft]

Quote from osho67:

I would like to be able to place simulated trades but using live prices on the TWS platform, the demo account only has 15 minute delayed prices.

So perhaps the user account can have a switch to allow simulated trades or preferably the demo account can show live prices instead of delayed quotes.

Already in the works: paper trading against real-live mkt-data.

 

[JackR]

Is that the Demo Acct, a real account, or both?

 

[IBsoft]

Quote from JackR:

Is that the Demo Acct, a real account, or both?

You will have to open a (to you dedicated "paper" account). When all is done, you will be able to "copy" permissions, positions, settings from your real account.

We will not let you paper-trade from your real-account.

The benefit of using our paper-trading (vs a third party plugin to the TWS) is that you will have access to all the IB order routing functionality, various order types, credit-management, statements, etc.

 

[Stealth Trader]

Quote from osho67:

I would like to be able to place simulated trades but using live prices on the TWS platform, the demo account only has 15 minute delayed prices.

So perhaps the user account can have a switch to allow simulated trades or preferably the demo account can show live prices instead of delayed quotes.

You can use a front end to accomplish this. BracketTrader is one, there several others as well.

s

 

[d9d]

Quote from IBsoft:

What does it mean cash them out instead? Please explain what should happen and at what time with options that are:
a) in the money
b) at the strike very close to the projected settlement price (i.e. they still have some time value left)

Thanks.

Because I'm not up to speed on the internal 'lingo' of brokers, let me phrase it this way:

I want this global-default, when set to 'on', to -ensure- that I do NOT end up owning any of the underlying stocks under any circumstances.

There have been cases where an option looked as if it was finishing out of the money; but apparently had an EOD or AH bump of a few cents; and IB exercised the option on -Saturday-, then sold the stock; but with the net effect of wiping out the client's account.

That is the type of situation that I want to guarantee never happens to my account.

Hope this helps clarify; and thanks for responding.

ps; still looking for PREM's !!

 

[d9d]

Quote from IBsoft:

We ARE offering the IBgateway. It provides you with FIX connection for order routing and API connection for market data. Please consult our website for details.

ok, I just talked with QT....they don't plan to work with this at all.

So, the stripped version that so many are asking for; or the "modular" version rumored to be in the works, would be a high-priority request of mine.

ps; I wanted to say THANKS! ...for the backill data. That's great.

pps; did I mention PREM's ??

 

[chud]

It would be nice to see a little bit more detailed summary of recent trading activity (day, week, etc) in the Account window. e.g. #trades, Gross P&L (in addition to present Net P&L), %winning trades, avg. winner, avg. loser, etc.