OptionHouse???

Quote from sudhaker:

And I'm loving it ;-) Extremely fast interface and very intuitive. Execution was great, got no slippage. I'm happy so far...

New user may have some learning curve. But they give you a virtual account by default. I got to play with their interface while my fund was being processed - virtual account is very very helpful.

Cheers,
Sudhaker
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That's great to hear, thanks for all the input!

I have had an account open for awhile...I always get a little nervous when I change from what I am used to using for so long...Scottrade *cough* I also used OptionsXpress, they were alright, had great range of contracts and L2 but commissions were steep there too.

Will be nice to trade VIX and other contracts that POS Scottrade doesn't offer. I am really excited about the commissions, been spending SO MUCH with other brokers, I just trade long puts or long calls, no combos, straddles, etc.

Sometimes I like to trade 200 contracts of .05 to .10 contracts....it should be much more profitable with OH.

ACH is en route, I'll post my feedback after a few trades.
 
Quote from nlslax:

Orderflow shouldn't be a concern if a trader makes certain to only place limit orders, so when the trade executes it's at the price the trader decides on in advance.
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It's an issue if you can't get filled at your price because of the routing your broker chose.

Maybe inter-exchange linkage has improved over the past couple years. But here's the problem I used to run into at one broker. Say CBOE was quoting $2.00x$2.20 and PHLX was quoting $2.10x$2.30. I put in an order to buy at $2.20. The broker sends to PHLX because they give better payment for order flow. PHLX does not want to fill me at $2.20, so after a few seconds they post it, and they are now $2.20x$2.30. And I don't get a fill. I call the broker, and they say they send orders to exactly one exchange, predetermined for each option series.
 
Quote from TraderSU:

50,000 shares for $2.95 = 0.0059 cents per share (vs IB 0.5 cents per share + modify/cancel fee)

4,000 contracts for $9.95 = 0.24875 cents per contract (vs IB 70 cents per contract).

There has to be some CATCH?

Are they making money in execution?

:confused:
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I checked them out and I see that OH margin requirements for options are 50-100% higher than in TOS. That's the CATCH.
 
I know this is an older thread, but I am in the process of looking for an option broker...I have read about them in a few random posts, but wanted to get some current feedback.

Thanks!
 
Bump for input too. I'm in the process of turning off my emini trading due to issues with taking care of my Dad, and am going back to swinging equities and options. Any fresh input from clients would be great.
How about any concerns as far as Penson clearing? Didn't Penson recently have a big issue?
Thanks
 
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