Options Brokers/Software

[sails]

Sorry to bug you again sails, I have been going through the WebIress help(after I eventually realized I needed to turn off pop-up blocking ) and couldn't find out if you can chart historical volatility. Is this possible with WI?

I haven't turned off my pop-up blocker and WebIress still works OK. Try try allowing pop ups from www.iress.com.au and/or adding it as a trusted site.

Unfortunately WI doesn't chart historical volatility. I export from WI to Amibroker where I can then plot HV (courtesy of WayneL!) against IV. The import process was a bit messy to set up, so let me know if you need help.

I have only recently set this up and for a long time just used the IV charts in WI to see where IV is in relation to its historical chart, however, I don't think the HV/IV charts work as well in the Aus market as they do in the US.

 

[omad]

Thanks for all the info Sails, it has been very helpful. Will let you know if I need help importing into Amibroker.

Thanks again.

 

[cutz]

Hi Sails

Back in 06 you mentioned that Morrison policy requires written options to be phoned through, is this still the case? (if you are still using them of course)

I had a quick look at the website but i couldn't find mention of this.

Also, with OX is a spread order regarded as one trade or are you charged per leg.

Thanks in advance,

Cutz.

 

[sails]

Hi Sails

Back in 06 you mentioned that Morrison policy requires written options to be phoned through, is this still the case? (if you are still using them of course)

I had a quick look at the website but i couldn't find mention of this.

Also, with OX is a spread order regarded as one trade or are you charged per leg.

Thanks in advance,

Cutz.

Hi Cutz,

I'm not using Morrisions anymore so not sure what their policies are at present on written options.

I believe the problem is also to do with the fact that WebIress (the platform that Morrisons were using) doesn't have the ability to enter option spreads on line and so there was no other method of entering a spread order. I did speak to someone at WI some months ago and they told me it was on the list of things to do but there were other priorities. Perhaps they might speed it up if more option traders requested it...

OX fees as per their website:

Standard Rates: $2.40 per contract per leg, subject to a $48.00 minimum per trade, plus ACH Fees.
Frequent Rates#: $2.10 per contract per leg, subject to a $42.00 minimum per trade, plus ACH Fees.

When trading with them, the above is based on 10 contract minimums - so it works out to be $24 per leg ($21 per leg with frequent rates) for up to 10 contracts. If confused, give them a call!

I am currently using Trader Dealer for Aus options - they were bought out by MDS finance after the Opes Prime debacle. They also use WebIress so combos can't be entered online either, but I have set up a system where combo orders are emailed to them pretty quickly, and once entered into the system, can then manage the order myself and see the market depth for that particular spread. Trading single options are no problem and can be done easily on line through the WebIress platform. I like the fact I can get straight through to a broker on the phone on the rare occasions it is needed which I found almost impossible with OX. Usually had to wait for a broker to call back

Cheers

 

[cutz]

Thanks Sails,

I just checked out the TraderDealer website and it mentions that you can buy calls and puts online or sell call options as part of a covered-call strategy, does this mean you can’t go short on calls and puts or you can but you have to phone them through.

Cutz

 

[sails]

Thanks Sails,

I just checked out the TraderDealer website and it mentions that you can buy calls and puts online or sell call options as part of a covered-call strategy, does this mean you can’t go short on calls and puts or you can but you have to phone them through.

Cutz

I understand TD usually require some options trading experience in order to trade any sort of option selling - even in spreads. I prefer trading spreads rather than taking on the risk of naked option selling, so I don't know what their policy is on that one especially now that TD has been taken over by MDS.

Give them a call and ask for Robert Corlett as he understands options trading. He is one of their options brokers and have always found him extremely helpful.

 

[cutz]

Thanks,

I will give them a ring Monday. I will also check out if Morrison require phoning through on shorts, their rates look rather attractive but i prefer to enter my trades online.

Cutz.

 

[sails]

Thanks,

I will give them a ring Monday. I will also check out if Morrison require phoning through on shorts, their rates look rather attractive but i prefer to enter my trades online.

Cutz.

Yes - I prefer to enter trades online. Really don't like phone orders - feel there is too much risk of error when relaying it all by phone especially with spreads. It's the reason I prefer email over phone as I then double/triple check everything is OK in writing before sending it off.

 

[cutz]

Hi All,

I’ve been using Webiress for a few weeks for trading options via comsec, thus far I have found the system to be a vast improvement over the protrader platform which was becoming so unusable I was at wits end and in the process of changing brokers. Iress became available so I dropped the idea.

This weekend I encountered a glitch, when logging on to webiress all the screens come up but they are all blank, then the system seems to freeze up, when I shut it down and log on to a demo version from another broker it works fine, therefore there doesn’t seem to be anything wrong with my end or the iress end.

Is anybody else using webiress via comsec and having this same problem, I just want to verify that it’s not just my machine before I ring them up tomorrow morning.

BTW I have done several things like clearing IE cookies, cache, diskcleanup ect.

Thanks,

Cutz.

 

[cutz]

Hi,

I reset IE to original settings and now iress is up and running, but i'm not sure if the browser reset is what done it or whether the problem was fixed at comsecs end in as its been a few hours since reset.

Cutz.

 

[sails]

Hi Cutz,

I use WI through a different broker - haven't noticed any problems over the weekend. In fact, I can't remember having problems with WI even during busy times - have used it with various brokers over the years. Perhaps Commsec were working on their site

Cheers

 

[cutz]

Perhaps Commsec were working on their site

I think that may be what happened, i noticed an additional feature when it was up and running again.

 

[cutz]

Hi All,

Has anyone had any recent experience with Optionsexpress or IB for trading the Aussie options market, some general feedback would be appreciated.

Thanks

Cutz.

 

[Grinder]

Been with OX for awhile now, you don't get all the bells & whistles like the US & their customer service is pretty ordinary over the phone. However, their frequent trader rates are competitive & margining is better than others. Have'nt used IB so cannot comment

Hope this helps

 

[cutz]

Thanks for you comments Grinder.

 

[cutz]

G’Day All,

How are the nerves going?

Just to put it on record, the intermittent problems I was having with webiress as per previous post #29 was solved by upgrading java on my machine to version 10,

Cutz.

 

[Grinder]

still on the hunt for a descent broker that can give me what i want was chatting to a trader mate who says these guys are in the midst of setting up something simmilar to whats used in the US, but does'nt know much about em.

http://www.enfiniuminternational.com.au/

Anyone know anything?

 

[RogueTrader273]

Does OX have the same problem as IB, i.e. 'T + 3' meaning you can't use cash from
positions you've closed to open new positions for three trading days?

 

[pixel]

Does OX have the same problem as IB, i.e. 'T + 3' meaning you can't use cash from
positions you've closed to open new positions for three trading days?

1. Who is OX?
2. I'm sure T+3 is no longer an issue. ASX has reduced processing times to T+2.