thinkorswim Brokerage Firm -- Does It Sink or Swim?

S

skadinkus

This firm has been mentioned in the threads as a brokerage offering options spread trading (and it appears from its web site www.thinkorswim.com that it achieves this using advanced trading software and routing to all five options exchanges -- as a plus they also give away Charles Cottle's recently revised book :-) ). Has anyone opened an account with them? What do you think of their services? I've never seen them advertise with anyone! What gives? Thanks!
 
I've tried their software (albeit not with real trades) and received Cottle's CWS book from them (nice!). I can't move my account right now as I have some open options trades that will have options expiring shortly. The trading platform looks to be the best out there for options (real-time quotes, greeks, and profit-loss on open positions), spread orders are entered very easily and quickly and the commissions are quite good. I can't comment on the quality of their executions, but they support best-price routing to all five exchanges or to the exchange of your choice (routing is NOT determined by payment for order flow).
 
Originally posted by skadinkus
I've tried their software (albeit not with real trades) and received Cottle's CWS book from them (nice!).
More...

Hey, no fair! I thought you had to open an account to get the book.

Also, what's the deal with the internet rebate? Clients qualify for a $39.95 credit if they do 40 trades/mo? Not bad!
 
Think or Swim is quite simply the best options execution platform there is . I have accounts with them and I do many legged executions for option spreads. So I am typically buying one leg on one exchange and then selling my other leg on a different exchange. I am able to many times get a better entry than buying the spread on any one given exchange. The more advanced a trader you are with options, the better the platform is for you. You are working with a team of people that understand options inside and out and can speak your language as the advanced trader of options can find is very hard to find in the brokerage world. I am an options egghead and this is the only place I would consider if I was opening an account to trade options, not to mention that within a few months they plan to offer the E-minis - so its your one stop shopping network...
 
DrSynthetic

Could you enlighten us on how you get out of paying the spread on some occasions? Is it something inherent in the software you're using, or can this be done with other brokerages? I was given the impression that you had to pay the spread, period.
 
Originally posted by mjt
DrSynthetic

Could you enlighten us on how you get out of paying the spread on some occasions? Is it something inherent in the software you're using, or can this be done with other brokerages? I was given the impression that you had to pay the spread, period.
More...
>>>>

Lets say I want to buy the 30/35 call spread in XYZ and the best price to buy the 30 call is in Chicago and the best price to sell the 35 call is at the Amex. I place two independent orders to the various exchanges and because my execution on single options is measured in seconds, I can very often get a better price than buying the spread in Chicago or at the Amex or any of the other 3 exchanges
 
You must log in or register to reply here.
Back
Top