You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Tasty Works, $10 flat fee for option traders
- Thread starter Sophie
- Start date
Well I’m not good at Math. I would think the margin difference would eat up all those savings. I personally pay usually 120 a day for margin fees. I really have never looked at commissions as as when you take in 10-50k a week. what’s a couple hundred in commissions. I should tighten my game but I really don’t care at this point.
Also I guess it depends on how many contracts you’re trading and what the system is giving you on commission charges on the smart system at IB. I’ve found it’s impoasible to guess commissions to exact on IB as it depends who it’s routing through. I’ve seen wild swings in commissions as I buy 1,000’s but usually in hundreds at a time as I can’t get filled usually at once or it explodes the price down.
I guess someone with better math can calculate out your savings if you give them options sizing and commissions and then calculate it out for you. I cannot..
Also I guess it depends on how many contracts you’re trading and what the system is giving you on commission charges on the smart system at IB. I’ve found it’s impoasible to guess commissions to exact on IB as it depends who it’s routing through. I’ve seen wild swings in commissions as I buy 1,000’s but usually in hundreds at a time as I can’t get filled usually at once or it explodes the price down.
I guess someone with better math can calculate out your savings if you give them options sizing and commissions and then calculate it out for you. I cannot..
I have had a Tastyworks account for a year, and I came close to transferring it to eTrade this morning. It was the commissions comparison that stopped me.
What frustrates me though is that it takes Tastyworks forever to roll new features out. And there are never any target release dates. It's always "soon," which could be a year or longer. For example: I want to trade options on commodity futures--for me and this market, I believe that is where the opportunity is. That will be available "soon."
They put more resources into producing video content than in their software development, though I wish it were the other way around. Don't get me wrong, I love their options studies and most of their shows. But after awhile you get tired of hearing Tom and Tony bemone about how untradeable this "improbable" bull run is . . . . month after month, year after year. You get sick of their stubbornness for holding short delta on equity indexes because the market has to come down eventually.
Their trading platform is solid, with fast execution. It is clean and great for setting up strategies. But if you like bells and whistles, there are none. If you like to feel like you have a lot of analysis tools at your fingertips, that's coming soon.
Anyhow, that is an honest assessment from a Tastyworks trader. I hope it helps. I am optimistic they will get to the level of features I need, and I am sticking with them for now. But it is slow going.
What frustrates me though is that it takes Tastyworks forever to roll new features out. And there are never any target release dates. It's always "soon," which could be a year or longer. For example: I want to trade options on commodity futures--for me and this market, I believe that is where the opportunity is. That will be available "soon."
They put more resources into producing video content than in their software development, though I wish it were the other way around. Don't get me wrong, I love their options studies and most of their shows. But after awhile you get tired of hearing Tom and Tony bemone about how untradeable this "improbable" bull run is . . . . month after month, year after year. You get sick of their stubbornness for holding short delta on equity indexes because the market has to come down eventually.
Their trading platform is solid, with fast execution. It is clean and great for setting up strategies. But if you like bells and whistles, there are none. If you like to feel like you have a lot of analysis tools at your fingertips, that's coming soon.
Anyhow, that is an honest assessment from a Tastyworks trader. I hope it helps. I am optimistic they will get to the level of features I need, and I am sticking with them for now. But it is slow going.
I have had a Tastyworks account for a year, and I came close to transferring it to eTrade this morning. It was the commissions comparison that stopped me.
What frustrates me though is that it takes Tastyworks forever to roll new features out. And there are never any target release dates. It's always "soon," which could be a year or longer. For example: I want to trade options on commodity futures--for me and this market, I believe that is where the opportunity is. That will be available "soon."
They put more resources into producing video content than in their software development, though I wish it were the other way around. Don't get me wrong, I love their options studies and most of their shows. But after awhile you get tired of hearing Tom and Tony bemone about how untradeable this "improbable" bull run is . . . . month after month, year after year. You get sick of their stubbornness for holding short delta on equity indexes because the market has to come down eventually.
Their trading platform is solid, with fast execution. It is clean and great for setting up strategies. But if you like bells and whistles, there are none. If you like to feel like you have a lot of analysis tools at your fingertips, that's coming soon.
Anyhow, that is an honest assessment from a Tastyworks trader. I hope it helps. I am optimistic they will get to the level of features I need, and I am sticking with them for now. But it is slow going.
They probably don't want to hire all the people necessary to develop and validate all the features by next quarter. So they are taking the less risky approach of rolling out features little by little. I'll give them credit for taking the risk. Yes, sometimes I also get tired of listening to them talk about themselves on that network. They seem to often put their politics and world view of how they think the world should behave instead of trading more objectively based on what is happening in the market. I'm curious if Tom and Tony made money last year. I'd be impressed if they managed to make money being short delta when the market is jumping 20%+ per year.
They probably don't want to hire all the people necessary to develop and validate all the features by next quarter. So they are taking the less risky approach of rolling out features little by little. I'll give them credit for taking the risk. Yes, sometimes I also get tired of listening to them talk about themselves on that network. They seem to often put their politics and world view of how they think the world should behave instead of trading more objectively based on what is happening in the market. I'm curious if Tom and Tony made money last year. I'd be impressed if they managed to make money being short delta when the market is jumping 20%+ per year.
Of course they didn't. Not from trading anyway.
I doubt they have been trading profitably since they started broadcasting. I've seen no evidence to support any profitability and I used to follow very closely.
Of course they didn't. Not from trading anyway.
I doubt they have been trading profitably since they started broadcasting. I've seen no evidence to support any profitability and I used to follow very closely.
The gist they usually give is that they come out ahead, but way below their expectations.
What has frustrated me over the years is that they insist on a shotgun approach: Stating that you need tons of trades and tons of strategies. What I've found with that approach is that I always end up with a giant unruly mess of a portfolio, often containing some very bad rotten apple trades.
I understand the whole "number of occurrences" and probabilities. Yet, the people I know personally who have been consistently successful with options have found one specific strategy that works well for them, and they repeat it over and over, keeping things simple.
So while I still really enjoy Tastytrade and like the people on it, I have learned to watch it with a giant grain of salt. I stick to my own 1+ standard deviation strangles, with much more time to expiration than they recommend, and pick up nuggets of interest from the show for fun.
Great....Thanks for posting. very helpfulWhile they also don't pay interest on cash balances, Tradier's REST API looks good. They also have a cobranded $40/month unlimited options trading offering at http://try.tradier.com/steady-o-013/