Looking for options software advice.....

[getthatintoya]

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

Perfectly said. Why everyone who lives outside of the US think they have to trade that market because it is the biggest is a mistake imho. I'm from Australia and trade the options and futures on the main index xjo.

 

[cesfx]

I live in the UK but prefer the US option market: liquidity, spread, products, analitycal tool's availability... and I love the hours, 14.30 to 21:00, with future and indices tradable nearly 24hr.

 

[jamesbp]

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

Peter Hoadley's software is superb, and I would have used it rather than create my own, except he stopped importing FTSE Options a long time ago, when they moved from being traded on LIFFE to Euronext

 

[Windlesham1]

My Tasty Trade account was all set to be funded when the S&P shot up 6.5% in a day. If you think trading the US has an advantage, good luck with that. I started trading covered calls like most people. That was in 1999. After 2 years of paper trading strangles on the S&P, I decided it was much easier to trade FTSE, which I have done in size since 2003. I have a blog and I post real trades weekly -it's just for fun and education( andclearly mine was lacking as I thought our prices were 15 min delayed) optionsinvesting.co.uk -Currently on trade 320. Now if I can continually make good profits with my tiny brain, you have to think you smarter people can make ££££

 

[Windlesham1]

If anyone needs specific historical data I have screenshots going back many years in pdf form. And YES, this was live on Monday morning. Doh! In my defence live to the minute data pretty irrelevant as my positions are traded using my broker's prices, by phone. I get a quote on a spread and set a limit. I get overnight emails, and they confirm settlement prices too. Whe I first got interested in 1995 there was little to no info/help. Have a look at optionsinvesting.co.uk that proves that an idiot can make £££

 

[jamesbp]

My Tasty Trade account was all set to be funded when the S&P shot up 6.5% in a day. If you think trading the US has an advantage, good luck with that. I started trading covered calls like most people. That was in 1999. After 2 years of paper trading strangles on the S&P, I decided it was much easier to trade FTSE, which I have done in size since 2003. I have a blog and I post real trades weekly -it's just for fun and education( andclearly mine was lacking as I thought our prices were 15 min delayed) optionsinvesting.co.uk -Currently on trade 320. Now if I can continually make good profits with my tiny brain, you have to think you smarter people can make ££££

FTSE a better index than SPX to trade ShortVol / Neutral-Short Delta Strategies

 

[Adam777]

Hi James. While you're talking about vol strategies, does the UK have the have the equivalent of vix futures options like the US?

 

[jamesbp]

Hi James. While you're talking about vol strategies, does the UK have the have the equivalent of vix futures options like the US?

No, just Index/Equity Options
More accurately ShortVega rather than ShortVol

 

[cesfx]

Interesting conversation, thanks!
I will take a good look at the footsie!


At a first glance, I see some large bid ask spread and no weekly options. Is that correct?

 

[Hittfeld]

So now there are two of you, who motivate me to look into those FTSE100 options again. But as a practical question: which brokers are considered to be the usual suspects and which platform could be used to paint at least a rough picture of this trade? I was a customer of Sa.. and left after costly pricing misquotes. So IB, Stone, Swissquote or who?

Thanks to both of you