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Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Can't go wrong with Optionshouse in my opinion.
OptionsHouse minimum - $1,000 for cash account ($2,000 for margin)
commissions: $5 for 5 contracts or $8.95 + .15 per contract
Very cost effective so it is good for the beginner following this board who doesn't want to invest a lot of cash.
If you have over $10,000 to start with I also recommend Interactive Brokers, though the platform isn't as intuitive, it is probably the most powerful in the industry, their routing is second to none, and they are a professional service. Though they do charge for modifying orders so it is something to be aware of. Their commissions vary based on volume.
Interactivebrokers.com
If you want good tools I would suggest TD Ameritrade. They are slightly more expensive but their Think-or-swim platform is really intuitive and their other tools are great too. There is no account minimum but funding for a margin account is $2,000 as almost all brokers are. Their commissions are $9.95 per ticket + .65 per contract.
Read up on other brokerages here:
http://www.theoptionsguide.com/choosing-an-options-brokerage.aspx
and here
http://www.brokerage-review.com/stock-brokers/lowest-options-fees-brokerage.aspx
$USO July monthly 30 puts .16 x .18
In $USO July 30 monthly puts @ .15
Going to let this ride for a while after doing a little more chart reading.
$MAKO calls on watch for a bounce after 40% haircut. Will alert entry, just a watch for now.
$USO puts for the rest of the week on eased tension. Still holding $CMG and $ARNA calls.
In $CMG 405 w calls @ .57
In $ARNA we 12 calls @ .32
Good morning guys! Sorry I haven't responded to PMs over the weekend as I've been crazy busy moving into my new place. I'll get around to them today. Also thanks so much Mikey and others for the kind words regarding some of my posts, it means a lot to me as I think helping others can help progress our society as a whole. Its all about the big picture. I'm a bit of an idealist I suppose :)
Have a good day trading everyone, I'll post anything I play today.
About 50% of my income comes from trading, the other 50% from various small business ventures.
Congrats bud! Seems like a great girl, oh and kick some ass in the tournament!
you too bud
$AAPL part II! 610s just went from .02 to .06 in about 2 minutes. Wild, wild day for apple.
Patience is everything in this game. Truly.
Incredible, that's how you do it right there sam!
$AAPL WOW! Still has a gap to fill back to around 610. Would be an incredible comeback.
Nice job guys!
$SODA squeezing..new HOD
$SODA calls looking good for next week. Gap to fill up to 45. Near HOD on a red day for the markets.
Lots of $SPY 135 w puts getting snatched up here @ .10, just a heads up. About 1,500 just went through.
There goes $AAPL, congrats to you guys holding calls!
Right on, I think you'll meet your goal.
Nice roy!
$AAPL fading...602
Right on! We all start somewhere. I have seen guys turn $2k into $50k trading options over a couple years or less. Hell, you can even do it in a month if you get lucky as hell! It is certainly doable.
All it takes is an open mind and a willingness to learn, just like anything else in life. Best of luck!
"I think selling credit spreads just before announcements may be the best way to take advange of jacked up premium."
Ding ding ding!
I like the thought process. ; )
$AAPL will fade back towards 601 as we move into EOD, imo.
"I figured the most I could lose it $100 if the option does not hit my strike price by next Friday."
Just a heads up, and I'm sure you know this, but you can trade out of options at ANY time. You don't have to wait until it has hit the strike price. If a stock is trading at $33 and you buy a $35 calls for .05, and it only reaches $34.50, you can still trade out of the option for whatever the bid/ask is at any time. That way you can lock in profits.
This is one of those things that I feel is never explained and could be a common misconception among new options traders. Sorry if you already knew this and I look like a condescending douche, just trying to help :)
Couldn't have said (written?) it better myself.
Agree on all of this, aside from a few individual companies I think are technically due to bounce.
Good post MM.
This is very gracious Jimmy, thanks for providing this contest to people!
$JPM 36 calls for next week .18 x .19
In $JPM 36 calls for next week @ .17 for the run into earnings. Expecting IV's to climb after the extreme negative sentiment over the last month or so. Will dump before earnings but this has made 3 full deviation moves. Time to bounce.
In $JPM 36 calls for next week @ .17 for the run into earnings.
Haven't been watching the tape, has most of that 6k in volume been on the ask?
Yep, $0.
:D
$DB July 30 puts .25 x .30
In $DB July 30 puts @ .25
GOGOGO
$DB losing 33.50!
Wouldn't that be nice! Ha.
In $USO July 29 puts @ .14
$GLD getting dumped. Should have kept my puts, anyone following has made a 3 bagger by now.
In $DB July 30 puts @ .25 Small position
Got filled.
Ugh, lucky. Oh well I'll wait. Don't want them @ .30
Contemplating the 32.5s @ .85...