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Most FCM's do NOT like option sellers. Higher risk and lower profitability.
One of our advantage is being a independent introducing broker so we do work with a few FCM's.
My preferred FCM for options sellers is OEC/ Gain Capital. Excellent, free software, the desk uses common sense and works with us the brokers who in turn work with the client.
I must say upfront that not all option sellers are "created the same" and by that I mean there are more than a few factors that go into the pricing of commissions for option sellers. Trading behavior, margin responsibility, account size, trading volume and more.
Our published commissions on the website apply for FUTURES. When it comes for options a conversation or email communication with perspective broker will help you quite a bit in getting an exact pricing for selling options and margin policy etc.
In general though, I honestly think that Cannon can offer probably the best set up for a few reasons, one of the main ones is that you will deal with a licensed broker, many of us with over 15 years experience, who will understand the risk of options and be able to asses rather than just simply restrict you.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
I signed up for a demo and must have been added to a mailing list. I liked today's market memo from the big cheese at Cannon:
Hello Traders,
Today I don't have anything of value to share from the trading aspect, so will wish everyone a great evening and a good trading day tomorrow!
Levels and reports are listed below and 4th of July trading schedule is already posted on our site at:
I appreciate the honesty and brevity and wish more analysts, reporters and pundits would do the same. A lot of times there just isn't much news so they fill space fabricating reasons for why ABC went up and XYZ went down.
@Haverchuck unfortunately Rithmic will not be supported by RCG, at least not in the near future. Will definitely keep you updated if any other news comes up regarding Rithmic and RCG.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
I recently opened account with Cannon for futures option selling. I must say that I am very impressed with the service. When I did my first trade, I noticed that OEC added a fee to my transactions. Ilan immediately took care of it by reducing his commission rates to compensate for it.
About a month ago I opened an account at Gain/OEC with Cannon Trading as the introducing broker.
My experience to date is that they use SPAN minimum margins. Earlier today I checked sample short trades (both puts and calls) in Silver, Soybeans, Soybean Oil, Natural Gas and Sugar. Using OEC Trader's POSITION window and adding "initial margin" to "option value" the result was 100% of the "initial margin" figure displayed in the CME SPAN tool (the Excel application that DudeTooth created).
I did not compare figures for trades that comprise a spread. Based on the above, I think/hope the offsets used by Gain/OEC would be very similar to what's permitted by the SPAN rules.
Hello @Haverchuck! We do offer CQG QTrader with 3 different clearing firms (Ironbeam, Dorman and RCG). Please feel free to call in the office and any broker or myself can assist you.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.