Options brokers

Discussion in 'Sharemarket Investing Platforms, Tools & Services' started by charttv, 4th Apr, 2020.

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  1. charttv

    charttv Well-Known Member

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    i haven't traded options in many years. What is the quickest/cheapest/easiest way to buy a long dated S&P 500 index put?
     
  2. Hosko

    Hosko Well-Known Member

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    Do you do any online trading currently? I'm thinking that you would have explored this option if you you did.
    I previously used a full service broker specifically for options trading, but have scaled down this activity and now just do very irregular trades through banking platform. Not the cheapest but it is quick and easy.
     
  3. Jess Peletier

    Jess Peletier Mortgages, Finance & Property Strategy Aust Wide Business Member

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    You could look at CFD's instead...I previously used CMC for options but that was Aussie only I think - might have changed since then.

    PS - Given that indexes have survivor bias, is an index put going to pay out the best? If you're looking at US stuff, might get better results finding a dog to buy a put on instead. :)
     
  4. charttv

    charttv Well-Known Member

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    no. i used to use AOT Securities to trade ETOs a very long time ago. They were acquired by Commsec, I think, many years ago.
     
  5. charttv

    charttv Well-Known Member

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    i don't won't to use CFDs. looking at putting on a small amount like a Lotto ticket. If i am wrong it will expire worthless, if not, it could do many multiples in returns. CFD providers are modern day bucket shops, i really would prefer not to use them. I also used to be a CMC customer.

    good point about the stock picking versus the index. I never thought of that.
     
  6. TwoDogs

    TwoDogs Well-Known Member

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    I just use Commsec. Expensive, steam driven platform, slow to put orders to market, keep changing the rules, excessive margin requirements...but they are the only broker who my SMSF admin allows and, well, they've been that way for years so you know what to expect.

    CFD's have their place. Options have theirs, and in this current high volatility world sold options are really partying.
     
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  7. TwoDogs

    TwoDogs Well-Known Member

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    Please don't take this as a recommendation, I wouldn't recommend Commsec to anyone. Major PITA to deal with. Oh, and they just stopped allowing sold options positions due to "high volatility". WTF, why else would anyone sell options unless there was high volatility? There really is no end to their ineptness.
     
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  8. Jess Peletier

    Jess Peletier Mortgages, Finance & Property Strategy Aust Wide Business Member

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    Haha that's classic!
     
  9. Timkot

    Timkot Active Member

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    interactive brokers can be set up in less than 5 business days, if that time frame is ok
     
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  10. charttv

    charttv Well-Known Member

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    will give them another go