Option Trading Tools

[jim.thornton]

There are no live internet prices for options,there is no education-all of that is American-and most brokers want a minimum account size of $50,000

I am Canadian and the restrictions that you are talking about do not exist.

First, I have traded with Questrade and they are a bunch of thieves, don't trade with them. The commissions are somewhat lower, but it's still VERY expensive.

I've setup an account with Interactive Brokers and their commissions are (from my research) the lowest around. I have not traded with them yet, but the minimum account size is $10,000USD to trade with them.

I've also setup an account with ThinkorSwim Canada (Through TD Direct Investing - US Platforms). Their commissions are $1.25 per contract with a minimum of $5.00 per trade. However, you get FREE realtime data with them. However, in that account you can only trade US Equities and Options. You need to fund the account with at least $5,000 USD and then call them and request the TASTY TRADE promo in order to get that pricing.

ThinkorSwim is an amazing platform! Quite intimidating when you first start to use it, but amazing nonetheless.

 

[smile]

Try LiveVolPro at http://www.livevol.com/options-trading-analysis-software
Or we offer the Livevol X Option Trading software that has some of the functions of the LiveVolPro software. https://www.lightspeed.com/technology/trading-software/

Bob

The platform comparison page says Livevol X doesn't offer direct market access.
Would you please elaborate on this. I assumed it did with all the other functionality.

 

[Robert Morse]

Smile,

I noticed you sent me a PM, then deleted it. Any thread with rmorse, I might not see now that I changed my member name to Robert Morse. I can check with our LiveVol X expert tomorrow if you like. LiveVol X at this time, is only available with an account at Interactive Brokers through us. IB routing that we offer is their smart route. That is not DMA. You don't get to choose the destination.

Send me an email tonight if you want me to give you a call tomorrow. After I learn more about your needs, I can offer a solution for you.

Bob

 

[Ashok Yarlagadda]

I have been trading options for 6 months but haven't come across good analysis or data tools. Set alerts when there is abnormal activities or spike in volatility. Analyze option volume and weekly trading activity.

For stocks I love tradingview.com, but haven't been able to find out any tools for options. What is your most popular tools for options? Happy to pay reasonable amount for good service.

Hemant,

Try http://www.key2options.com

 

[smile]

Smile,

I noticed you sent me a PM, then deleted it. Any thread with rmorse, I might not see now that I changed my member name to Robert Morse. I can check with our LiveVol X expert tomorrow if you like. LiveVol X at this time, is only available with an account at Interactive Brokers through us. IB routing that we offer is their smart route. That is not DMA. You don't get to choose the destination.

Send me an email tonight if you want me to give you a call tomorrow. After I learn more about your needs, I can offer a solution for you.

Bob

Bob,

Thank you for responding. You answered my question. I will contact you when I am ready to proceed.

Smile

 

[Robert Morse]

Smile,

We are working to offer LiveVol X with Wedbush. I expect by year end. Then it my expectation that we will offer DMA with our rates vs IB rates.

Bob

 

[ironchef]

Hemant:

I tried trading (entry/exits) with options but the theta decay makes it very difficult. The amount of times I entered a trade and it went again s me and then in a day or two the stock price came back but I was still down. It's because of breakevens and theta that make is so difficult.

Go to Tastytrade.com, it will change your life. Look under "Find Shows' then scroll down to Where Do I Start. Your looking for Season 1. Then go to the last page (page 20) and start watching the videos back to front.

I've been doing this for 7 mo the and am up 9%. That's with all of the other trades I tried doing too though. I also did trades that TT recommend d not to do and I quickly learned why. I highly recommend it!

If not for those stupid mistakes (and only traded the Tastytrade.com way, I would be up about 12% Since February.

If you buy and hold SPY, YTD (1-1-16 to 9-22-16) it went up 9.8%, before dividends and ~12% with dividends.

If you buy and hold SPY from Feb 1, 2016 (your date) it went up 12.2% before dividends, and ~13.5% with. I trade options too and my benchmark is SPY. If I didn't do as well or better I considered myself a failure.


Good luck to you and best regards,

 

[Robert Morse]

I have been trading options for 6 months but haven't come across good analysis or data tools.

Check this out. A friend of mine built this for internal use. They were a small Option MM group. They created this website for the public based on what they built. Not sure what they will do with it in the future.

https://marketchameleon.com/

Bob

 

[Kurt_From_RVA]

I second thinkorswim for being a great platform to trade options, and tasty-trade for learning how.