# OptionsXpress Australia



## Mofra

Howdy,

Whilst browsing I happened upon this online broker, and seem to remember one or two regular posters have some experience using this broker for trades both in Australia and the US.

Does anyone use this company and if so are they happy with the service?

Cheers


----------



## sails

Hi Mofra,

I've found them OK for the Aussie market and mainly trade options.  Here are the pros and cons as I see it:

Competitive pricing, however, it is based per contract for options so could be more expensive than a percentage based fee on small priced shares if trading large quantities.

Reasonable support - emails usually replied to within 24 hours.  Phone calls returned fairly promptly.  They have followed up on a few problems with satisfactory outcomes.

Option orders can be placed two at a time online, eg calendars, vertical spreads, etc.  Butterflies, condors, etc with more than two legs cannot be done in one order on the Aussie market - only the US.  

Once an order is in the system, it's easy to adjust the pricing, etc.  The downside is that codes have to be typed in manually or copy and paste from an option chain (unless I am missing an easier way!).  However, once the order has been executed, it's easy to adjust or close the trade.

They have a lot of charts, IV charts, etc for the US options market, but the only charts available for the Aussie market is just a six month daily bar chart with volume and a 21 day MA.  No IV charts for the Aussie market either.

I believe that to open an account, you have to open both a US and an Aussie account.

Re trade execution (again with options) - sometimes it's straight through processing, but mostly goes to a manual DTR. Have never been able to work it out - seems random.  I have had option spreads occasionally go straight through and othertimes a single options trade, near the money and front month (eg BHP) goes to manual processing with the inevitable delay caused by the manual intervention     I have no experience of trading straight shares with them, so don't know what they are like on that one.

I have accounts with other brokers as I find OX are not suitable for all my trading needs, however, I do use them regularly enough to get the frequent traders discount and just accept the good things that they offer.  I also use Iress from another broker to get dynamic options data and charts, etc and find that the combination works OK for me.

Hope this makes sense and helps a bit.  Have rushed the reply as it's been a busy week for me, but let me know if you have any other questions.

Cheers.


----------



## Jake Hall

Have had experience with OX US - fairly good brokers, but few moments really make me mad for instance:

I place an order with some stock. Everything is good, order placed you confirmation # is blahblah. Once I refresh "orders" page.. what do I see there? Order is CANCELLED!   Then after 10-20 mins it becomes "pending-cancelled" BUT in few days it OPENS and gets filled


----------



## Mofra

Sails,

Thank you very much for your detailed response, I have to admit part of the attraction was being able to log on from work and have Aussie Market IV charts available, disappointing that it is US only as the website doesn't make this clear.


Jake, now that _is_ a concern.


----------



## sails

*Mofra*, yes I thought I would get IV info, intraday charts etc for the Aus market, so it was quite disappointing to find the bells and whistles are only available for the US.  This is why I still pay for Iress to get what I need for options trading in Aus. I find the saving on fees with OX more than pays for the software each month.



			
				Jake Hall said:
			
		

> Have had experience with OX US - fairly good brokers, but few moments really make me mad for instance:
> 
> I place an order with some stock. Everything is good, order placed you confirmation # is blahblah. Once I refresh "orders" page.. what do I see there? Order is CANCELLED!   Then after 10-20 mins it becomes "pending-cancelled" BUT in few days it OPENS and gets filled



*Jake*, while it's been rare, I've also had the "pending cancel" status happen a couple of times when trading the Aus market.  I don't let up until it's fixed.  Firstly, there is a button next to the trade that says "get status" and I click on that and send the request if anything seems amiss.  If that doesn't work, I'm on the phone before the end of the trading day to make sure it's fixed - and if still concerned, will back it up with an email confirming my online or phone instructions.


----------



## Fool

*Does anyone use "OptionsXpress"?*

does anyone use "optionsXpress"???

any feedback??


----------



## sails

*Re: Does anyone use "OptionsXpress"?*



Fool said:


> does anyone use "optionsXpress"???
> 
> any feedback??




Yes, they are one of the brokers I use.  Have already written a fairly detailed post earlier in this thread, however since that time, while I have found them to be generally OK, there have been a few frustrations lately.  There have been the occasional option codes which have not been recognised by their system which means those orders have to be phoned.  Sometimes a broker will pick the phone up straight away, other times they phone back - whenever 

Also, not uncommon to be overcharged on fees.  Apparently the lower rate for frequent trading has to be applied manually on combo trades, so it often gets charged at the higher, single leg price.  While they do refund the money, it is a nuisance factor to have to keep sending the overcharge details.

Good luck!


----------



## VolTracker

I had a similar problem with the 'cancel order pending' response to cancelling an order for the sale of some Barrier Warrants a couple of weeks ago.

I placed a sell order, the market moved, I tried to modify the order to the mkt price, and was met with Cancel Pending. I naively assumed the order had been fully executed, just that OX's sytems hadnt updated due to the amt of volume that day. Turned out I had only been partially filled with 80% of the order unfilled and expiry worthless on hitting the barrier. It cost me big time. Yet another lesson learned. I dont trade barrier warrants with OX anymore.

Have traded ASX and US options with them for 2 years and never had a problem. I recommend asking for frequent trader discount as soon as you can.


----------



## sails

I have also had the occasional  scary "pending" issues with OX orders, but fortunately no nasty outcomes.  

I've been finding Trader Dealer a good alternative for larger positions (their fees are higher than the OX base fee, but they offer a flat fee for up to 100 contracts- more info is on their site for specific conditions on fees).  Combo orders need be phoned or emailed until WebIress provide the facility online, however, once they are set up in the system, price can easily and quickly be adjusted online through WI.


----------



## legout

I set up an account with OX Australia, and found it to be a nightmare.  It took three weeks, no one seemed to know what they were doing. I had to speak with US and Australia, everyone had different answers. Finally it's done.

It made me so nervous, that I searched the internet to find out what their rep was, and found this board. I mean, if they can't even take your money, how on earth are they going to fill your orders?

I was so excited to find out about them because they had virtual trading for options. This is really unusual.

But when I set up the account a few months ago, (I haven't used it yet - been tied up with other stuff) I found the Virtual Trading was only available for US.

Checking their website .au right now, seems to indicate that it may now be available on the ASX symbols, too...

Does anyone know? Has anyone used Virtual trade for ASX? Or even for U.S. for that matter? How good a simulator is it???

legout


----------



## legout

Just got off the horn with them. They said nothing has changed. Big surprise. Still no virtual trade for ASX symbols, and no IV or any other interesting data for the option chains...

All the reasons I signed up with them are now gone...

Where can I go to get a good trading platform, with excellent execution, AND excellent data, like real-time volatilies, OI, real-time bid ask, volume, all the good stuff...

I'm lost


----------



## sails

Hi Legout - welcome to ASF!

Sorry for the delay in posting as I had a partial reply typed out earlier today, but due to interruptions, it never got posted.  No need to tell you now that Aus options don’t work on OX virtual trading, so have deleted all that now.  Here is the remainder of what I wrote:

I'm not trading with OX at this stage.  They were having technical problems a few months ago where some of the Aus option codes weren't being recognised by their website.   Then, days after letting them know, they still weren't fixed - they said I was most welcome to phone my orders through.  However, that's not easy when their brokers are often too busy to take the call and have to phone back –  whenever they are free.  And then when the  price needs adjusting –  we repeat the whole delay thing again.  So, phoning trades through was never going to work, IMO.

Are you familiar with WebIress for dynamic Aus options data?  Several brokers use it and, depending on the number of trades you make per month, it can become free of charge.

Cheers


----------



## legout

sails said:


> Hi Legout - welcome to ASF!
> 
> Sorry for the delay in posting as I had a partial reply typed out earlier today, but due to interruptions, it never got posted.  No need to tell you now that Aus options don’t work on OX virtual trading, so have deleted all that now.  Here is the remainder of what I wrote:
> 
> I'm not trading with OX at this stage.  They were having technical problems a few months ago where some of the Aus option codes weren't being recognised by their website.   Then, days after letting them know, they still weren't fixed - they said I was most welcome to phone my orders through.  However, that's not easy when their brokers are often too busy to take the call and have to phone back –  whenever they are free.  And then when the  price needs adjusting –  we repeat the whole delay thing again.  So, phoning trades through was never going to work, IMO.
> 
> Are you familiar with WebIress for dynamic Aus options data?  Several brokers use it and, depending on the number of trades you make per month, it can become free of charge.
> 
> Cheers




Thank you very much for this information, and the welcome. I'm glad to be here. If this forum can even just get me hooked up with a good broker and tools, I will be indebted.

I Googled 'webiress, and found their site. Then learned they supply technology only, I must find a broker who repackages their tools.

So, I will be searching this forum for threads on brokers. The tools should provide in the very least OI, IV, and risk profiles at the very minimum. If I can trade right from the platform, that will be a real boost. Thanks for your help.

legout


----------



## sails

Hi Legout,

You were asking about an Aussie options broker and I didn't have time to give more info last night.  I really like Trader Dealer - they use WebIress (and includes Aus options) - free WI demo (delayed data) can be found on their site :  http://www.traderdealer.com.au/

I've been extremely impressed with their service - phones are actually answered by a human - and usually one of the brokers 
They have recently reduced both their equities and option trading fees - here is an excerpt:



> *Exchange Traded Options*
> Trader Dealer charges $2.42 (incl GST) per option or LEPO contract with a minimum brokerage of $26.40 (incl GST) for all transactions same side, same series, same day. Confirmations (trading statements) are issued at the end of a trading day.
> 
> Option exercise/assignment is charged at the same rate as an equity trade, where the total trade value is the option premium.
> 
> In addition to the above, all ASX/ACH fees incurred on your behalf will be charged to your account.




The above was copied from http://www.traderdealer.com.au/clients/fees.php where there is more info on the cost of software (WebIress) and how many trades per month to get it free.  There is also information on reduced charges for light users of WI.

Personally, I rely heavily on WebIress for dynamic options info and wouldn't be without it - it has so many useful features.  I don't know of any paper trading facility for Aus options - I just use an excel spread sheet to test out new ideas, etc.

We have accounts with several different option brokers (IB is the only one I have closed) - however, Trader Dealer is by far the best I have come across at this point in time.

I like the fact that funds are held in an interest bearing CMT account in your own name - as opposed to being in a brokers trust account. 

If you are interested, have a chat to Robert on (02) 8917 2800 or 1300 769 380 as the level of option trading depends somewhat on the level of experience and knowledge.

Hope this helps!

PS.  I am not financially affiliated with TD - simply a satisfied customer


----------



## legout

sails said:


> Hi Legout,
> 
> You were asking about an Aussie options broker and I didn't have time to give more info last night.  I really like Trader Dealer - they use WebIress (and includes Aus options) - free WI demo (delayed data) can be found on their site :  http://www.traderdealer.com.au/
> 
> I've been extremely impressed with their service - phones are actually answered by a human - and usually one of the brokers
> They have recently reduced both their equities and option trading fees - here is an excerpt:
> 
> 
> 
> The above was copied from http://www.traderdealer.com.au/clients/fees.php where there is more info on the cost of software (WebIress) and how many trades per month to get it free.  There is also information on reduced charges for light users of WI.
> 
> Personally, I rely heavily on WebIress for dynamic options info and wouldn't be without it - it has so many useful features.  I don't know of any paper trading facility for Aus options - I just use an excel spread sheet to test out new ideas, etc.
> 
> We have accounts with several different option brokers (IB is the only one I have closed) - however, Trader Dealer is by far the best I have come across at this point in time.
> 
> I like the fact that funds are held in an interest bearing CMT account in your own name - as opposed to being in a brokers trust account.
> 
> If you are interested, have a chat to Robert on (02) 8917 2800 or 1300 769 380 as the level of option trading depends somewhat on the level of experience and knowledge.
> 
> Hope this helps!
> 
> PS.  I am not financially affiliated with TD - simply a satisfied customer




Wow, that was REALLY helpful. Very kind of you indeed. :santa:
If I may, what is 'WI' and 'TD'?

I will definitely give Robert a call, and start tinkering around with their implementation of iress.

I was using OptionVue 5, which I loved, accept I couldn't get it in 'real-time' mode, but would have to manually type everything in. A real pain when you are trying to trade live, and make quick decisions. Plus, it's EXPENSIVE

I'm hoping to come close with a broker's included tools.

BTW, ASF does not have a forum entitled 'Brokers'. Within that forum could be sub forums on brokers for stocks or options or FX, or futures, etc.

Just a good idea IMHO.

Thanks a million!!!

legout


----------



## sails

You're welcome, Legout!

WI = WebIress
TD = Trader Dealer

Unfortunately WI won't replace Optionvue - I use the Hoadley tools http://www.hoadley.net/options/options.htm for risk graphs and their comparisons.  I have the "add-in" (LOL - much cheaper than optionvue) as I also like to use the positions manager and implied volatility - especially the volatility surface.   Still requires some manual data entry - but it has served me well.   Lots of demos on the site to show what it can do.

One thing I wish Iress did have is a way of measuring your position greeks - rather than getting an estimate through the Hoadley Positions Manager.  Nothing's perfect - that's for sure - and we don't get all the frills here in Aus available to US option traders.

The features I like in WI are as follows:

1.  It updates dynamically.

2.  If you click on the market depth "detail" button, it brings a new window up the second level of depth.  This doesn't update, dynamically  but is rather useful if requesting a Market Maker quote where they only leave it for a few seconds and then it disappears.  I click on the detail as soon as I get the quote which then holds it while I work out an approx. entry price. 

3.  The "Option Valuation" window is also quite helpful.  That gives an idea of the individual IV levels and greeks for that particular option.  Various imputs can be changed to see what might happen to that option with the passing of time, a change in IV, change in price of the underlying, change in interest rates, etc.  (I had trouble making this work with Java - so I removed Java and the "Option Valuation" window works better without it on my PC.  Just mentioned that in case you have problems making it work!)

Anyway, that's all I can think of now - and am pretty busy.  Will add more as I think of it!

Cheers

PS - perhaps put your idea of a brokers thread in the suggestions thread:  https://www.aussiestockforums.com/forums/showthread.php?t=334


----------



## legout

sails said:


> You're welcome, Legout!
> 
> WI = WebIress
> TD = Trader Dealer




Thanks 



> Unfortunately WI won't replace Optionvue...




 Is there ANY TRADING PLATFORM that will show the option chain with all IVs, and allow you to graph risk profiles? Is there nothing???

I know your busy, Sails, so don't stress. Maybe someone else will reply...

I'm going to keep looking. There must be some gig in town that does this. For crying out loud! Maybe ETrade???




> PS - perhaps put your idea of a brokers thread in the suggestions thread:  https://www.aussiestockforums.com/forums/showthread.php?t=334




Done. Thanks again.

legout


----------



## sails

legout said:


> Thanks
> 
> Is there ANY TRADING PLATFORM that will show the option chain with all IVs, and allow you to graph risk profiles? Is there nothing???
> 
> I know your busy, Sails, so don't stress. Maybe someone else will reply...
> 
> I'm going to keep looking. There must be some gig in town that does this. For crying out loud! Maybe ETrade???
> 
> Done. Thanks again.
> 
> legout




Let me know if you find it!!  IB may eventually have it, but they didn't during my brief stay.  

There is OptionGear put out by Hubb that may do what you are looking for with the Aus market, however, it is expensive, and I have heard (don't know if it's still true) that it only works with their on-going data subscriptions.  Not sure if it works intra day though.

I'm sure this is one of a few reasons so many Aus options traders snub the Aus market in favour of the US.  I feel brokerage (for lots of 10 or more) is becoming more in line on the higher priced shares, especially as we have 1000 lots per contract vs. 100 in the US. 

 But ASX fees on top of brokerage + hefty data fees still needs improvement, IMO.  I don't like the night shift and so have worked with the Aus market - and and just use what is available to make it work.  That said, I would love to have something like TOS (Think or Swim) provide for their clients in the US which would make life so much easier!

Cheers


----------



## RichKid

sails said:


> Let me know if you find it!!  IB may eventually have it, but they didn't during my brief stay.  ..........




Hi Sails 

Thanks for sharing all that great info! I'm thinking of opening an IB account (including eto's)- was it recently that you closed your account and if so any particular reason? I thought I'd seen a post somewhere where you said you'd be opening an IB ac....not sure. If you do have time and some feedback on IB please feel free to post in the IB thread as I'm investigating them atm, mainly due to their very low Aussie share & eto brokerage rates.

Thanks in advance!


----------



## RichKid

Hello Legout, welcome to ASF and congrats on doing due diligence on the various brokers out there, it's good when we conduct research ourselves as it helps reduce some of the risks involved. 

As for a sub-forum for brokers, you'll find a lot of threads in the 'Beginners Lounge- Trading and Investing Resources' dealing with brokers and broker trading platforms. The derivatives thread would have more specialised threads as well. Joe is sure to note your response in the suggestions thread.

RichKid
moderator


----------



## legout

sails said:


> Let me know if you find it!!  IB may eventually have it, but they didn't during my brief stay.
> 
> There is OptionGear put out by Hubb that may do what you are looking for with the Aus market, however, it is expensive, and I have heard (don't know if it's still true) that it only works with their on-going data subscriptions.  Not sure if it works intra day though.
> 
> I'm sure this is one of a few reasons so many Aus options traders snub the Aus market in favour of the US.  I feel brokerage (for lots of 10 or more) is becoming more in line on the higher priced shares, especially as we have 1000 lots per contract vs. 100 in the US.
> 
> But ASX fees on top of brokerage + hefty data fees still needs improvement, IMO.  I don't like the night shift and so have worked with the Aus market - and and just use what is available to make it work.  That said, I would love to have something like TOS (Think or Swim) provide for their clients in the US which would make life so much easier!
> 
> Cheers




Thanks Sails,

$4000 dollars! You weren't kidding it's expensive (optiongear). Just looked at it. Crazy price.

I've decided to just start paper trading with a broker that has iress platform and not worry about IV. Verticle spreads aren't as sensitive to it, anyway, I'll just look for high probability trades, and live without all the bells and whistles for now. If I start making money, I'll get the pricey tools later on.

At least iress has Graphs of option risk profile, that's something. Then I can compare buying/selling different strikes to see which graph returns a better breakeven point. THIS IS IMPORTANT in this style trading.

I'm going to look for a broker that gives access to the platform for a free evaluation period without having to open an account, fund it, then get the software to test.







RichKid said:


> Hello Legout, welcome to ASF




Thanks RichKid!

legout


----------



## sails

legout said:


> Thanks Sails,
> 
> $4000 dollars! You weren't kidding it's expensive (optiongear). Just looked at it. Crazy price.
> 
> I've decided to just start paper trading with a broker that has iress platform and not worry about IV. Verticle spreads aren't as sensitive to it, anyway, I'll just look for high probability trades, and live without all the bells and whistles for now. If I start making money, I'll get the pricey tools later on.
> 
> At least iress has Graphs of option risk profile, that's something. Then I can compare buying/selling different strikes to see which graph returns a better breakeven point. THIS IS IMPORTANT in this style trading.
> 
> I'm going to look for a broker that gives access to the platform for a free evaluation period without having to open an account, fund it, then get the software to test.
> 
> Thanks RichKid!
> 
> legout




You can get IV in Iress - while I'm not sure of it's accuracy, it gives the general idea.  Into a chart, just type stock code + IV eg BHPIV.  Line chart works best with daily - but candles work OK with weekly and monthly.  

Also in "Options Monitor", there is a "Volty" heading - doesn't seem to be very useful, however, I think the most reliable is in the "Option Valuation".  The IV in the left panel is paced on Option Price in the middle panel.  So, it you work out the approx mid price and type it in there, you will see the IV in the left panel change.  To make the rest of the greeks in the left panel change, you then need to put that updated IV into the "Volatility" field in the middle panel.  Seems a bit messy - could be a java problem with my PC - so might work differently for you.  Also, the fields in the middle panel can all be changed - helps to give some clues on what might happen under different condisitons.  Anyway, just some ideas for you to play with.  Check out the help files - that's where I found this info.

I also often use the "Volatility Surface" Hoadley IV calculator (end of day after about 5.30pm when the ASX have updated their theroetical prices) and this shows IV by month and strike.  Not sure how realistic the ASX prices are though, but again, it gives the idea.

Last, but certainly not least, check out this thread:  https://www.aussiestockforums.com/forums/showthread.php?t=8223    Post #6 has the link.  It may be more what you are looking for..

Anyway, gotta run!


PS RichKid - your Q is a bit more complicated - will get to it over the next couple of days!


----------



## RichKid

sails said:


> ..........PS RichKid - your Q is a bit more complicated - will get to it over the next couple of days!




Thanks Sails, when you have time is fine, I'll keep giving feedback about IB as info comes to hand on the IB thread....SteveIB doesn't visit as often and customer service at IB are taking their time to reply to me. Hopefully these exchanges of info will help other readers of ASF become better informed.


----------



## sails

Hi RichKid,

Yes, there was a major problem with one of my orders – there was a bit posted on it in this thread: www.aussiestockforums.com/forums/showthread.php?t=7303.  While that left me somewhat unnerved in using their software, these were some of my other concerns for IB and Aus options market:

1.  The lack of specialized help during Aus trading hours on live chat.  “General” help was the only one available when ever I accessed it.  “Trading” help never was available whenever I used their live help during our trading hours - perhaps I was just unlucky.  

2.  The apparent lack of filters in their trading software - human error is possible and would be nicer to know that obvious credit trades cannot be wrongly taken as a debit – Ouch – still hurts…  Even an error message would have been useful – but the faulty order just went straight through.  I once made a similar mistake with OptionsXpress with Aus options, but their software came up with an error message and prevented the mistaken trade going through.

3.  As per their options agreement, IB, who is not an ASX participant, routes Aus option orders direct to their affiliate, Timber Hill Australia who is an ASX participant.  Not sure if this is the same Timber Hill who is one of several Aus options market makers.  If so, I have wondered if they get first bite of the cherry.  Hopefully, this is not so - Steve may wish to clarify this.

4.	 Although funds are apparently held in Citibank, Sydney, there were never any bank statements from Citibank - only IB's internal statements.  Personally, I prefer to have bank statements.

5.  I found the paper trading for Aus options worked only if there were active quotes in market depth.  This made it extremely limiting, IMO as many Aus options do not have continuous quotes.

6.  I don’t like the IB policy if one is assigned on a short option.  They give the first ten minutes in the morning to deal with it before they start liquidating other positions – and, I believe, not necessarily the one that needs liquidating.  To close the assigned shares without simultaneously trading any covering long option (or a synthetic version) is taking on huge directional risk.  Very difficult in Aus to even think about getting a reasonable price on options much before 10.30 – 11am due to the underlying often being very jumpy during that time.  I was never planning to use them as my main broker mainly due to the risk of their assignment policy, but it would have been useful for some of my smaller trades that don’t require front month short selling.

7.  I found the TWS very slow to load – guess I have been spoilt by Iress – it is so quick and easy to manage.

Anyway, there are also lots of people satisfied with IB, so perhaps I was just unlucky with them.  However, due the unnerving effect of having lost a significant amount of our  IB account in less than a second - it was time to move on...

Cheers


----------



## RichKid

sails said:


> Hi RichKid,
> 
> Yes, there was a major problem with one of my orders – there was a bit posted on it in this thread: www.aussiestockforums.com/forums/showthread.php?t=7303.  While that left me somewhat unnerved in using their software, these were some of my other concerns for IB and Aus options market:
> ..........
> .......




Thank you very much for the reply Sails, I've drawn attention to this post in the 'Brokerage Platforms are terrible in Oz' thread where Steve-IB from IB usually posts, hopefully he'll reply soon. I can move the post to another thread if he replies in detail.

I'm sorry to hear of your misfortune, it really would have been best if they had some sort of screen to prevent this type of thing occurring, I can see how the lack of customer service online will be a bigger issue for them to deal with as that would mean having a real person to answer queries, especially more advanced issues relating to eto's, but considering the potential for business here in Australia they might focus more on it soon.


----------



## legout

RichKid said:


> Thank you very much for the reply Sails, I've drawn attention to this post in the 'Brokerage Platforms are terrible in Oz' thread where Steve-IB from IB usually posts, hopefully he'll reply soon. I can move the post to another thread if he replies in detail.




OK, that's it. What on earth is 'IB'. So sorry for my ignorance. I'll soon get all the abbreviations down. In FX it stands for 'Introducing Broker'. But here

legout


----------



## sails

legout said:


> OK, that's it. What on earth is 'IB'. So sorry for my ignorance. I'll soon get all the abbreviations down. In FX it stands for 'Introducing Broker'. But here
> 
> legout




IB = Interactive Brokers  www.interactivebrokers.com
Lots of info for the Aus market in here: 
https://www.aussiestockforums.com/forums/showthread.php?t=7303


----------



## legout

sails said:


> Last, but certainly not least, check out this thread:  https://www.aussiestockforums.com/forums/showthread.php?t=8223    Post #6 has the link.  It may be more what you are looking for..
> 
> Anyway, gotta run!




Sails,

Thanks for this link. I really like what I saw, and have bookmarked the site. I plan on seeing if it will be useful to my trading.

legout


----------



## VolTracker

You've gotta love OX,

I had 4000 RIOXOH barrier warrants (Sep07 85 strike) that got knocked out on that really bad day in Aug07.

Ever since then they have appeared in my portfolio with a negligible value (last price I guess). I keep thinking they would clean up the old, expired & knocked out holdings eventually.

Then today, 6 months later, thanks to the recycling of old codes I have 4000 RIOXOH (nicely itm with lots of time value) worth $8.50 each, $34000 worth.

To sell or not to sell....?

Best of all I've got heaps more of these dead warrants just waiting to be recycled...cant wait I'm goanna be rich! (unless some at OX reads this & wakes up of course)


----------



## sails

LOL VolTracker - agree - and don't be too quick to spend the money 
However, I guess when you try to sell, the alarm bells will ring somewhere at Berndale when there's no-one to fund the other side of the deal!


----------



## wayneL

Vol,

Let me ask you two questions:

1/ How many of these do you have?

2/ Is your passport current?


----------



## VolTracker

Aw shucks, someone at OX must read ASF. 

This morning, my portfolio has been stripped of my $38500 of RIOXOH and about 10,000 other dead turbos that I had accumulated.

No trip to the Bahamas for me. Still it was fun while it lasted.

I hope no-one at OX got in any trouble over this, obviously just a data processing oversite.


----------



## jerome

I have been us OX Us and have bene really happy with their platform and charting tools. I agree that their 'per contract' brokerage can really hurt if you are placing small trades, but apart from that have been really happy with them.


----------

