Looking for options software advice.....

[Windlesham1]

I have seen these prices posted at 08:01 but I am having talks with Ice.com who say they want to address the issue of 15 min delayed prices. I don't log on for the first half hour usually but I did see prices last week at 08:01.. It may be that they are testing this, nobody told me! You probably know that spreads are wider than a bus, however, and we have no autoquote. I will speak to ice.com about this, but of course I still have to phone in orders, and prices I got filled on yesterday were away from the prices online. However I genuinely wish to say:
Well done on 1. trading FTSE 2. Trading UK options. 3. Lasting longer or as long as I have. 4. Being a techie sort of trader. Do you know how many UK options traders there are? We are left with a handful of brokers and fewer market makers. Tasty Trade were in town today, I did not attend but there are efforts being made by CME, ICE and some brokers to get more retail traders on board. you probably know I have a blog -over 300 trades posted to date.
I await Monday morning with renewed excitement. (I used to have page refreshing software, wonder how it updates ).

 

[jamesbp]

I have seen these prices posted at 08:01 but I am having talks with Ice.com who say they want to address the issue of 15 min delayed prices. I don't log on for the first half hour usually but I did see prices last week at 08:01.. It may be that they are testing this, nobody told me! You probably know that spreads are wider than a bus, however, and we have no autoquote. I will speak to ice.com about this, but of course I still have to phone in orders, and prices I got filled on yesterday were away from the prices online. However I genuinely wish to say:
Well done on 1. trading FTSE 2. Trading UK options. 3. Lasting longer or as long as I have. 4. Being a techie sort of trader. Do you know how many UK options traders there are? We are left with a handful of brokers and fewer market makers. Tasty Trade were in town today, I did not attend but there are efforts being made by CME, ICE and some brokers to get more retail traders on board. you probably know I have a blog -over 300 trades posted to date.
I await Monday morning with renewed excitement. (I used to have page refreshing software, wonder how it updates ).

The ICE Exchange have provided "Real-Time" FTSE Option Prices for at least 3 years, and despite relatively wide quotes, can normally trade withing a penny or so of mid-prices

I am aware of how few FTSE Option traders there are, having once run a small group of about 10 FTSE Option retail-traders ... which was fun whilst it lasted

However, if you mix the ICE Quotes with a little Excel, you can create a half decent trading platform that has similar functionality as TOS/Tasty etc

 

[Windlesham1]

The ICE Exchange have provided "Real-Time" FTSE Option Prices for at least 3 years, and despite relatively wide quotes, can normally trade withing a penny or so of mid-prices

I am aware of how few FTSE Option traders there are, having once run a small group of about 10 FTSE Option retail-traders ... which was fun whilst it lasted

However, if you mix the ICE Quotes with a little Excel, you can create a half decent trading platform that has similar functionality as TOS/Tasty etc

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Thanks James I'd just assumed the prices were 'ball park' and as I trade spreads I get quoted by phone, no problem. I have to use the old iVolatility calculator (CME). I screenshot closing prices daily around 9 pm. The weird thing is I was speaking to theice.com about delayed prices and they agreed that 15 minutes was nuts. At no point did they say prices are live, though the platform does not show updates without a refresh, so I'd assumed it was delayed still. I have traded quite happily without paying for live data for many years, stopped using IB in 2007. I have been writing a blog on the site owned by a trading buddy who used to run an options group- there were about 10 of us when we last met at the Southbank Centre.

 

[jamesbp]

Thanks James I'd just assumed the prices were 'ball park' and as I trade spreads I get quoted by phone, no problem. I have to use the old iVolatility calculator (CME). I screenshot closing prices daily around 9 pm. The weird thing is I was speaking to theice.com about delayed prices and they agreed that 15 minutes was nuts. At no point did they say prices are live, though the platform does not show updates without a refresh, so I'd assumed it was delayed still. I have traded quite happily without paying for live data for many years, stopped using IB in 2007. I have been writing a blog on the site owned by a trading buddy who used to run an options group- there were about 10 of us when we last met at the Southbank Centre.

Just for the record, FTSE Option-Chain populated with Real-Time prices at 8:00:46AM today

 

[PPC]

I am aware of how few FTSE Option traders there are, having once run a small group of about 10 FTSE Option retail-traders ... which was fun whilst it lasted
View attachment 317640

@jamesbp Hi James, I read some of your past posts, and your knowledge about options is quite profound especially for a retail trader.

If you don’t mind me asking, why do trade FTSE options where you’ll most likely have more slippage and less strike/expiry/vehicle selections, plus all the other hassles, than you'd have if you’d trade the US option markets instead?

I don’t know anything about FTSE options, so I'm curious what are the pros and cons.

Thanks

 

[jamesbp]

@jamesbp Hi James, I read some of your past posts, and your knowledge about options is quite profound especially for a retail trader.

If you don’t mind me asking, why do trade FTSE options where you’ll most likely have more slippage and less strike/expiry/vehicle selections, plus all the other hassles, than you'd have if you’d trade the US option markets instead?

I don’t know anything about FTSE options, so I'm curious what are the pros and cons.

Thanks

Primary reasons that I trade FTSE Options are

1. When I first started trading options as retail:
... TOS would not open Accounts for UK based traders due to money laundering concerns
... IBKR only allow Accounts with restrictions for trading in Personal Pension Schemes

2. So built a system to "replicate" much of TOS functionallity for UK Options

3. FTSE has a relatively large Notional (£70-80k), European Style, Cash Settled, with reasonable liquidity, which I can trade in normal working hours, without any Currency Risk

Whilst most traders seem to apply the same strategy to lots of Tickers (that they know little about), I prefer to apply different strategies to one Ticker (that I know a little about) that reflect my best guess of market/vol conditions

 

[PPC]

@jamesbp Makes perfect sense, thank you

 

[Hittfeld]

@jamesbp Your 1.) and 3.) apply to me as well and are valid reasons for me to ask for an indication, whereabout I might find 2.) for my strictly personal use.

Thanks for your postings

 

[jamesbp]

@jamesbp Your 1.) and 3.) apply to me as well and are valid reasons for me to ask for an indication, whereabout I might find 2.) for my strictly personal use.

Thanks for your postings

Apologies, I cannot really help with recomendations for a trading platform for UK Options as I now maintain/develop mine for personal use only.

It has been used historically by a small group of Option Traders, but in reallity it is way too time consuming / not commercially viable to develop beyond that

 

[Hittfeld]

What a pity. But thanks for explanation and above screenshots. Your postings motivated me to look into trading FTSE options again. Maybe "Hoadley`s Tool" could be used for analytical purposes.

Thanks again