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I trade through IB and am pretty satisfied overall with their service , but the margin issue can become a serious matter, especially coupled with IB autoliquidation policy.
Are you sure that the fee you got from OX is including exchange fees as IB fee for futures and options is 0.70ct per contract + exchange fees and +- rebates ?
Also, this thread is about fotm strikes, but does anyone know how far are margin requirements between IB and OX on atm and slightly otm strikes ?
The commission rate from OX DOES NOT include exchange fees. Which is okay with me. With drastically lower margins, I can easily make up the difference.
I like the IB platform a lot. It is faster than OX. But for my purposes of writing far OTM options, OX will be fine. I WOULD NOT suggest using OX to day trade stocks or futures, for that I would recommend IB.
As for your last question, I would have to compare positions using IB and OX to see the difference in margin requirements. Maybe others here can help with that too.
I don't think the above info is much usable, it shows the margin impact to my account, which already has a bunch of ES options positions open and is quite short delta at the moment (Jan 18 to March 15th expiry), hence the lower margin impact of short puts.
Checked through another account, which doesn't hold any es position :
All initial margins, maintenance is 20% less :
Put 1470
feb 6523
march 6535
march 6315
1440 put
feb 6167
march 5957
dec 9849 (system gives as well, 3941 only as maintenance margin, not sure that's right)
Calls margin requirements are roughly the same as before, and as well as for puts, maintenance margin is much lower than the initial margin for dec calls