# Trading ASX options



## Outstanding (16 October 2008)

Hi i'm pretty new to the stockmarkets,

I've been very keen in trading options, and recently have activated my Etrade account to be able to trade options, but when looking for quotes on etrade it seems that there isn't any volume of trades at all, which means no bid or ask prices either... is this just the nature of ASX options market? 

what does everybody else use for options trading platform?


----------



## sails (16 October 2008)

Outstanding said:


> Hi i'm pretty new to the stockmarkets,
> 
> I've been very keen in trading options, and recently have activated my Etrade account to be able to trade options, but when looking for quotes on etrade it seems that there isn't any volume of trades at all, which means no bid or ask prices either... is this just the nature of ASX options market?
> 
> what does everybody else use for options trading platform?



I rarely go past BHP & the big four banks for liquidity in options.  Some of the lower priced shares (eg LGL, TLS, OZL) have active options, but the problem of fees becomes an issue with them.  The ASX charge $1.12 for every option contract traded - on top of broker fees.  That becomes worse if your broker also charges by the contract.  If trading options on lower priced shares it helps if one is on a percentage brokerage, but then the ASX fee still bites pretty hard!


----------



## Outstanding (16 October 2008)

Thanks sails,

I was looking at options for macquarie group... and there wasn't much activity on it at all... i'm thinking about looking deeper into the US markets since their options market is far more liquid. does anyone know of any good trading platforms for international options trading...


----------



## Grinder (17 October 2008)

Outstanding, been contemplating the same thing for along time now. Been perservering with the Oz options market and finally decided after virtual trading the US for months to finnaly convert, only for the AUD to fall If it was'nt for the exhange rate, would've converted for sure.

If anyone trades ops on a liquid market would be interested to know about it.


----------



## sails (17 October 2008)

Outstanding said:


> Thanks sails,
> 
> I was looking at options for macquarie group... and there wasn't much activity on it at all... i'm thinking about looking deeper into the US markets since their options market is far more liquid. does anyone know of any good trading platforms for international options trading...




Yes, MCQ options are very thinly traded!  
I have an account with TOS for US trading http://www.thinkorswim.com/tos/client/index.jsp.  They are brilliant with customer service and I was able to get the "ticket" charge removed by being a member of The Option Club Yahoo Group. TOS Software is extremely user friendly and is geared around options with all sorts of bells and whistles.  Heaps of free option education on their site as well.


----------



## cutz (17 October 2008)

Outstanding said:


> Hi i'm pretty new to the stockmarkets,
> 
> I've been very keen in trading options, and recently have activated my Etrade account to be able to trade options, but when looking for quotes on etrade it seems that there isn't any volume of trades at all, which means no bid or ask prices either... is this just the nature of ASX options market?
> 
> what does everybody else use for options trading platform?




Hi Outstanding,

I am new to options myself, I stick to a few blue chips and XJO options, MQG is an underlying I recently had experience with and I can tell you it was a pretty enlightening affair, luckily I came out unscathed with another lesson up my sleeve, the platform I use is Webiress.

Good Luck,

Cutz.


----------



## mazzatelli1000 (18 October 2008)

sails said:


> Yes, MCQ options are very thinly traded!
> I have an account with TOS for US trading http://www.thinkorswim.com/tos/client/index.jsp.  They are brilliant with customer service and I was able to get the "ticket" charge removed by being a member of The Option Club Yahoo Group. TOS Software is extremely user friendly and is geared around options with all sorts of bells and whistles.  Heaps of free option education on their site as well.




Outstanding, 

I will second my experience with TOS. Best options broker to deal with


----------



## mazzatelli1000 (18 October 2008)

Grinder said:


> Outstanding, been contemplating the same thing for along time now. Been perservering with the Oz options market and finally decided after virtual trading the US for months to finnaly convert, only for the AUD to fall If it was'nt for the exhange rate, would've converted for sure.
> 
> If anyone trades ops on a liquid market would be interested to know about it.




The Korean and Hong Kong option markets are very liquid


----------



## Grinder (18 October 2008)

mazzatelli1000 said:


> The Korean and Hong Kong option markets are very liquid




Thanks Mazz, looked into the Kospi & was told by broker I can't convert AUD, would have to go on margin: 

Does anyone trade ops in a market other than US or Oz?


----------

