Anyone keen to learn options?

[chaoprokia]

hmm IBKR prices are delayed right ?

so fari i tried IBKR, Tiger and still prefer tiger for options trading, although Tiger fees higher

Still waiting for my TDA account to be approved as heard thats the best platform

U can sub live data for option also. I using ibkr moomoo live feed.

I prefer Bloomberg that too expensive.

 

[RedsYWNA]

hmm IBKR prices are delayed right ?

so fari i tried IBKR, Tiger and still prefer tiger for options trading, although Tiger fees higher

Still waiting for my TDA account to be approved as heard thats the best platform

I want to save on IBKR's USD 1.50 options subscription, so I use Tiger to view the live options quotes, and IBKR for the actual trade......LOL I used to subscribe for IBKR USD 1.50 monthly charge, before Tiger came into the picture.

 

[shallow]

Advisable to do wheel strategy on a US listed etf? As a proxy to those people who own lse-listed etf, such as iwda or isac? E.g. wheel strategy on VT as a proxy to ISAC/VWRA.

Or is it only financially feasible for individual stock?

 

[RedsYWNA]

May I know how much IBKR charge you for doing the margin on CSP?

Good to hear u have set aside the cash to cover ur puts just in case it gets assigned.

IBKR margin loan is 1.6%. I am small investor, so I cant get the 1% or lower margin loan. LOL

In most of the cases, it's not used at all since the CSP expire out of the money. If it's assigned and the cash went to negative balance (charged at annualised 1.6%), I just transfer the money over lor.
Maybe kena USD 2-3 dollars in margin interest?

 

[RedsYWNA]

Advisable to do wheel strategy on a US listed etf? As a proxy to those people who own lse-listed etf, such as iwda or isac? E.g. wheel strategy on VT as a proxy to ISAC/VWRA.

Or is it only financially feasible for individual stock?

I think QQQ and SPY options are far more actively traded than VT options, and i trade QQQ options too.

 

[chaoprokia]

IBKR margin loan is 1.6%. I am small investor, so I cant get the 1% or lower margin loan. LOL

In most of the cases, it's not used at all since the CSP expire out of the money. If it's assigned and the cash went to negative balance (charged at annualised 1.6%), I just transfer the money over lor.
Maybe kena USD 2-3 dollars in margin interest?

ibkr loan is cheapest for long.
for short not so cheap.
for option commission also quite expensive. per option charge very exp.

for share trade using ibkr would be great.

i think only robinhood give cheap option fee.

 

[RedsYWNA]

ibkr loan is cheapest for long.
for short not so cheap.
for option commission also quite expensive. per option charge very exp.

for share trade using ibkr would be great.

i think only robinhood give cheap option fee.

I am attracted to Tiger options (free with some coins activities - LOL), but IBKR is just more flexible with its ability to do CSP + low margin loans.

 

[Thoreldan]

hmm IBKR prices are delayed right ?

so fari i tried IBKR, Tiger and still prefer tiger for options trading, although Tiger fees higher

Still waiting for my TDA account to be approved as heard thats the best platform

If you're serious in making money in options, you'd probably not mind paying a small fees for the data feed.

 

[wira]

If you're serious in making money in options, you'd probably not mind paying a small fees for the data feed.

i also prefer Tiger app interface and UX thats why i don mind paying Tiger higher option fees compared to IBKR cheaper fees.

I only use IBKR for LSE ETF .

 

[loonybun]

Actually ibkr's live data for US options is only $1.50 per month. This $1.50 is also waived if u clock $20 comms per month.

 

[win_man]

hmm IBKR prices are delayed right ?

so fari i tried IBKR, Tiger and still prefer tiger for options trading, although Tiger fees higher

Still waiting for my TDA account to be approved as heard thats the best platform

My commissions fees in IBKR is around 1-14 USD for each trade depending on the number of contracts. How much for Tiger?

 

[szeli]

e last I checked, Tiger and Moomoo don't have functions to trade spreads. so have been practising on Thinkorswim paper money atm..

 

[wira]

My commissions fees in IBKR is around 1-14 USD for each trade depending on the number of contracts. How much for Tiger?

Tiger option fees is :
1. USD$0.65 / contract . Min 1.99 /order
2. Platform fee US$0.30/contact. Min $1 / order
3. Misc fees charged by SEC, FINRA, OCC and GST

usually per trade option fees is around USD$3.40

 

[metaverse2030]

wah...all the crouching tiger and hidden dragon all coming out now....hahaha

 

[metaverse2030]

Cheam stuff but a good read. Thanks for sharing…

haha...slowly lah...take it like driving....once u learn it, u will never forget it and it is going to take you to places....

 

[chaoprokia]

Buy option and buy stock is the same.

just leverage is different. Risk management with option is very important.

because most people don’t know they buying in 100x leverage

 

[YouHeypiCanLiao]

Buy option and buy stock is the same.

just leverage is different. Risk management with option is very important.

because most people don’t know they buying in 100x leverage

Also if Premium is $0.50 which nets you ONLY $50. Can just put 10x contract can liao ^^

 

[aurvandil]

If anyone is keen to learn, I strongly recommnd checking out the Tastytrade Youtube channel

https://www.youtube.com/c/tastytrade1/featured
This is the Youtube channel of Tom Sosnoff, the founder of Think, Trade or Swim before it was sold to TD Ameritrade. It is not a scam guru channel. There are hours and hours of good free content teaching people how to trade. For those looking to learn about options, please check out the following playlists:

Options Crash Course with Dr Jim Schultz
This is a good primer on the basics.




Options Crash Course: Strategy Management with Dr Jim Schultz
This is teaches how to manage positions when things go against you.




Option Greeks 101
This introduces the Greeks and explains the reasons for many of the parameters they recommended in the Options Crash Course.




The desire to learn how to trade is very great in Singapore. There are unfortunately many furus out there who hide behind the education loophole to take advantage of those who want to learn. Under our current laws, It is against the law to provide financial advice unless you are properly licensed by MAS. It is however not against the law to teach financial courses. For teaching, there is no licensing requirement by MAS, MOE or any other government agency.

It should be noted that if you want to be a successful trader, only about 5% of those who start on the journey actually make it to become consistent. If you want to learn from people with actual trading experience who have consistently earned money over many years, you are looking at a very small community. As far as I am aware, no one from this community is running classes or selling trading systems. This is due to the rigours of a trader's lifestyle where you spend 8 to 10 hours a day watching screens, journaling and executing trades.

Another useful point to note is that none who made it did so by paying large sums of money for people to teach them. Almost all learned their craft on their own.

 

[Lex1989]

What trading setup do you use?

 

[win_man]

Also if Premium is $0.50 which nets you ONLY $50. Can just put 10x contract can liao ^^

Must be careful when putting number of contracts. When Zoom crashed two months ago, i accidentally put 10 contracts on a $230 strike price becuse i was mixed up with another ticker that i was observing. Only found out the next day. Luckily i managed to close with a small profit. If Zoom had crashed even further below $230, i will have big problem because will require 230K USD