IBKR

Hefty-Interview4460

IBKR is 0.35$ per trade for me, in Hong Kong.

Hefty-Interview4460

I dont think IBKR allows me to do that, can only use margin cash to spend on the casino.

fa113

Fidelity & IBKR. Someone below with Fidelity couldn't either.

FxHorizonTrading

If you just want to trade stocks, preferably german ones, have a look at ING or flatex as broker and use IBKR for higher invesment sums, more special / international stuff Grüße aus Össiland

ButtBlock

Obligatory, I don’t know what I’m talking about do your own research et cetera. But, if you are a “US Person” based on the IRS criteria, then you should be very cautious about buying any non-US domiciled ETFs or anything that could be considered a “Passive foreign investment company” or PFIC. While completely legal to own, they are taxed completely differently and at a much higher rate. The forms are very complicated too. This was introduced to prevent US citizens from hiding wealth abroad away from the IRS, but like so many rules, it has had huge unintended consequences. I think there are US-domiciled ETFs that provide the exposure you want. The expense ratios tend to be a bit higher. You could also directly buy EUR-denominated debt. You can do this with IBKR pretty easily, and commissions are not too expense. However, if your timeline is 10-20 years, you’re probably better just buying VEA, getting exposure to Europe that way, and then selling for EUR when you move back. That’s a really long time frame. Holding bonds probably not going to be a good move, but what do I know?

Gemini_Of_Wallstreet

Look i know i’m a regard on copium but what the hell HAPPENED to CMG?  Last night when i went to sleep it sat at 3020 and now IBKR shows it at 2920?

durustakta

You could maybe consider other EU-based brokers, such as Degiro, IBKR, Trade Republic… but keep in mind you’ll probably have to include the info your taxes as they won’t automatically do it.

CrowDaddy97

I totally understand. I just need to give it more of an effort. I also have an IBKR account. I love the amount of options there, but also have a tough time getting around that one on PC. Strange to me that the app for IBKR is much easier than the PC.

Money_Essay7793

You can even put £100. Just open a cash account. Initially I used TastyTrade for options then I moved Interactive broker(IBKR) as it's faster to make transfer and it's very popular in uk. For my ISA account I use my interactive broker account (IBKR) and you can open a normal cash account for options. Do your own research of course, but trust me they are much better than those trashy app, I wish someone told me before. (IBKR) is very well established here in uk, ask anyone in finance, they are also listed in the stock exchange. If you want a referral , let me know at least we both make money (I hope) lol. P. S don't gamble all your money on options, try it with £100.

Mr-Z-E-E

Open an account with IBKR, convert GBP to USD, apply to trade options and away you go!

Apprehensive_Gas6932

I’m not working there though. Say I buy WALMEX in my IBKR account, shouldn’t mess with any visa processes. Right?

antirheumaticMalta

About PGSS, I got the following notification from IBKR: PGSS@NYSE (Name: PEGASUS DIGITAL MOBILITY A-A) announced an issue change of 1 : 1, effective 20240425. CUSIP: G69768102 New Symbol: @ New Identifier: : I'm confused. A ticker change is scheduled for tomorrow, although the new symbol has not been determined yet? And although the merger has been approved, there doesn't seem to be any press release yet, so isn't it odd that they already announce the ticker change?

boilerup1710

I use IBKR, it’s usually a dollar buying and dollar selling at the most as fees. Factor it into my 20%

renosoner

When did IBKR overnight prices on spy update real time to reflect futures. Just noticed

Hefty-Interview4460

Well you should play only if you assume you dont have a disadvantage. You cant be luckier than anyone else, so you have to assume that were you to win, it would be due to an advantage. I know what you're saying, in average we're all losing. But that's an average: how to be the ones averaging up rather than those averaging down ? I suggest it would be by cutting losses fast, pocketing wins fast, and doing it regularly. I pay no capital gain tax, fees are 0.35$ per trade (Hong Kong, IBKR) and I do pay dividend witholding tax, so that may also explain why for me quick buying and selling multiple small momentum sounds way better than doing extremely large lottery style option play. OFC a safe ETF, or better, a term deposit, is where you should put your real money. Is anyone here using real money they need ?

Long_Calls_and_Puts

I've used both IBKR and Fidelity for Options trading. As a new trader I would go with Fidelity. The platform is easy and intuitive, while IBKR can be more difficult to learn.

Alone_Ad_4706

I use IBKR. My limit orders don't get filled with after hours trading turned on despite the price being higher than my limit buy price

jumbocards

+-9.4%, according to IBKR

Visual-Cranberry1210

IBKR

WinningWatchlist

IBKR is great for all around trading (both investing and short term), but my day trading platform is Centerpoint.

Lost-Practice-5916

IBKR uses PFOF. I haven't seen them execute any better.

mama_kitty_

imo, IBKR desktop experience is in TWS trading platform, not their desktop trading via website. If you are a buy and hold investor on IBKR, you can choose IBKR Lite instead of IBKR Pro and then there are no data and commission fees if i'm not wrong. On IBKR Pro, they charge $14 a month I think, but it's waived after churning a small amount of volume. Nobody beats IBKR in cost and execution. They provide better fills with the cheapest commissions. Free commissions aren't really free. Assets are bought, marked up in price, then sold back to you more expensive. IBKR only takes PFOF on IBKR Lite, in order to cater to buy and hold investors and compensate for eliminating commissions and data fees. Not to mention, if you're an active trader with high volume, the commissions you pay to IBKR are significant cost savings than using other brokerage firms that rely on PFOF that make it appear commissions are free.

Lost-Practice-5916

IBKR trading desktop is worse than ATP. That said, IBKR bond trading is top tier and Fidelity could learn a thing or two from them. Also for buy and hold type investors, IBKR has terrible data fees.

mausmani2494

Is there a reason you use ATP over IBKR?

No-Court-5082

i was cash gang for the last few months. today i forgot how to use IBKR. Also forgot what my strategy was. or if i even had one.

ScottishTrader

Why would IBKR exercise any option without you giving them an order to do so? The only reason might be because your account could not support an assignment and you did not manage in a timely manner. As u/Arcite1 explains so well, you are paid for the short shares and so your account should not be in such a position.

TomatoSpecialist6879

They sell your usage data, that's how companies know to make the ads more specialized Eg. You regularly talk about say, options in WhatsApp. META sells those data to big ads brokers, who sell ad packages to companies that want to hit those specific demographics. That's why people kept getting ads from IBKR, WeBull, etc even if they don't have brokerage apps downloaded onto their phone. The whole "you can't be identified through the data they sell" is just legal terms grey area horse shit since the data is associated to a phone's MAC, which is unique.

Arcite1

>Will IBKR exercise my long call to cover for the short shares? I would lose a lot of extrinsic value if this happened. Probably not. The only brokerage I have heard of doing that is Robinhood. As you say, the long leg would probably still have extrinsic value, so it would be better to sell it, and, if you wanted to exit the entire position at that time, buy to cover the short shares. > Should I buy back 100 shares for 50.5k in order to keep the long call? What If I don't have 50.5k? You do have $50.5k. You would get $50.5k for getting assigned on the short 505c and selling the shares short.

NebulaTraveler0

If I buy a SPY 475C expiring in 1 year for about $5,000 and I sell a 505C against it, what would happen if I got assigned? I would be -100 shares. Will IBKR exercise my long call to cover for the short shares? I would lose a lot of extrinsic value if this happened. Should I buy back 100 shares for 50.5k in order to keep the long call? What If I don't have 50.5k?

yolocr8m8

You can trade SPX, which isn't closed like SPY, on a broker that supports SPX.... like one of the many, many brokers... Etrade, Tasty, IBKR, Tradier, ToS, and many more.

ButtBlock

IBKR lets you invest many places, but you can’t buy ROC stocks to my knowledge. Very cheap forex too.

Ken385

Another advantage of Fidelity for SPX is they allow you to trade part of the pre market/overnight session in SPX options (I think at 6am ct). Not as good as IBKR which allows access to the entire overnight session, but better than most other brokers.

nerdy_nerdrea

Yeah, it's very strange. I shorted about 4k uvxy, 4k vxx, 1k uvxy calls (ITM). I have about 100k in stocks and 50k in cash... and another bunch of put option shorting (together udnerlying < 20k).. the reason they cite is: This alert is to inform you that due to a recall IBKR is unable meet your settlement delivery obligations for the short stock position(s) listed below for account U\*\*\*\*. As current SEC regulations require that all transactions be settled on the standard settlement date, these short stock positions have been bought-in. While IBKR tries to give advanced notice of a possible buy-in, due to the time frame of this fail, in this instance we were unable to do so. The positions listed below have been bought-in:

RiskRiches

Why would they close your position? I do not understand the premise at all. What is your excess liqudity (exLiq) and maintenance margin (MntMgn) at? I have never had IBKR close any of my positions, I have many short positions.

MajorHubbub

IBKR

truz26

what you looking for? what you trade? options? futures? webull is alright for most situation. else IBKR.

livingindxbhelp

I use IBKR and live in Dubai . If you need more info DM me.

McKoijion

* I don’t feel like revealing my age here, but my Reddit account is twice as old as yours. * Most of the data to support my opinion comes from the Robinhood website. Their prices are lower than the competition’s and their bonuses are greater. * The data that shows Robinhood has better execution than IBKR is in this study: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4189239 * I’m a fan of the original TD Ameritrade (especially Thinkorswim.) They had the best execution in the study above. Schwab, Tastytrade, and Robinhood are its spiritual successors. https://www.cnbc.com/2019/11/25/charles-schwab-to-buy-td-ameritrade-in-a-26-billion-all-stock-deal.html https://en.m.wikipedia.org/wiki/Tom_Sosnoff https://riabiz.com/a/2022/1/6/robinhood-gets-brilliant-upper-manager-and-a-spare-ceo-by-nabbing-td-ameritrades-ex-thinkorswim-top-exec-hopefully-to-throw-a-lifesaver-to-robinhoods-sinking-stock

4rt3m0rl0v

It depends on the quantity of contracts. IBKR uses variable-price commissions. You can also negotiate with brokerages if you have $1 million+.

888lunch

Why dont you look at Tradezella? If I am not mistaken they are available for IBKR.

Minimum-Branch6114

What is the option assignment price? Like is it the closing price or post-market closing price? I have searched COBE but no answer. I sold 2 April-19 TSLA 147 put, the closing price is 147.05, the post-market closing price is 146.90, but I got assigned in Saturday by IBKR. So I was wonder which price do they use? or is it different broker by broker?

AlphaInformations

Hello [Kenan374](/user/Kenan374/), I trade this strategy since 1/22/2024. I only trade this strategy (portfolio margin account at IBKR Ireland with only cash \[EUR\] as collateral) with these adjustments. * XSP as underlying * use also weekly expirations and not only the monthly ones to open new trades with about 45 DTE * adjust trades only once a day * use 30% profit target (thanks for the idea in the [SPX 12 Delta Srangle - Day in the life Example](https://www.reddit.com/r/options/comments/124wb3v/spx_12_delta_srangle_day_in_the_life_example/?sort=new) thread) * open new trade after the old trade was closed so I don't open new trades on specific days in the week * each new position should have a different expiration date than the existing positions if possible (depends on the available strikes of the expirations) * buy one about 1 delta long put for each short put in a strangle to keep the buying power usage in check and have a black swan hedge * these long puts will be bought together with the sold strangle and will stay after the related strangle was closed * I check the IBKR Risk Navigator regularly to check the worst case draw down of the account and the goal is to keep the worst draw down to less or equal of the account cash balance * but this would only occur in a overnight gap due to a catastrophic event which would not give me enough time to react or if I would not be able to trade for several days/weeks How are my experiences with this strategy until now. * I liquidated all options positions (wheel strategy) late January 2024 and started to trade this as only strategy * my account value (only cash) was about 49,500 EUR at this time * today (4/20/2024) it is 49.119 EUR * all time high was about 50.554 EUR on 4/11/2024 * all time low was 48.718 EUR on 2/22/2024 * I had up to 8 strangles open (4 positions with 2 strangles per position) at the same time * I'm migrating to 3 positions with 3 strangles per position and a different expiration date per position * XSP is not ideal because the weekly expirations have wide strikes (e.g. 500, 505, 510, ...) sometimes which makes it difficult to get the needed deltas * the NLV swings are OK * buying power / margin usage growth is not to big yet and it is still slightly below 50%

Cobil78

Aha! You’re right there’s a U.K. subsidiary. But my thinking is that since no UK person knows what an F share is (ADR, GDR, Crest all ok. But not F) that the mistake was by a clerk in NY. And hey, I’m a retired NY lawyer. Costs me nothing to sue and get discovery whereas in UK I risk costs. But since writing I’ve sent an email to the special HMRC office dealing with ISA mistakes. If they accept my facts they can order IBUK to treat the greyed-out stocks as still in the ISA and send them over to HL. As a lawyer I don’t rely on one remedy I use them all. I know the SEC. I was lawyer for 50 victims of the Lloyd’s of London scam. (Google Lloyd’s Database). It will cost IBKR executive time they’ll never get back. And maybe a customer or two. HMRC will not be amused that they lied about HMRC.

OurNewestMember

Oh so you point to an input file with the (OPRA?) option codes, and then the script gets and saves the historical trade data to a file named after the symbol? The least obvious part might be the inputs/outputs for reqHistoricalData and the Option constructor (I don't know how good the IBKR docs are)

Cobil78

I’m a NY lawyer, as I said. And I worked on Wall Street. Never experienced a broker that wouldn’t respond seriously to a genuine complaint, especially one that wouldn’t cost them money: and then lie and say (1) it’s our fault that they didn’t follow their published rules & (2) HMRC made them go it — despite fact that HMRC’s ISA page gives contact info to get consent to reverse such errors without tax consequences. Look, I just posted this in case anyone had further ideas. BDT’s shareholder relations people will be back to me. Ombudsman will be back to me about admissibility. HL probably will give me documentation that they sent the stocks as BDT (or maybe just with firm’s name). Of course I’ll write to HMRC. If I remain convinced that IBKR’s US staff put in the OTC ticker I’ll complain to the SEC. All of this will take up IBKR executive time. As for me I’m 82 and have nothing else to do but this and care for 10yo grandson. The issue is IBKR’s ghosting us. And I’ve been wondering how to value loss of ISA status on the stocks. FWIW I have no complaints about IBUK’s trading (margin) account. They’re cheap, they deal in many countries, many exchanges. But the reason they’re cheap is they don’t provide service and don’t deal with complaints. A hedge fund manager I asked advice from said he’s dropping them. Everybody I know in the USA prefers to deal with Fidelity. My daughter has an a/c & a Roth with Fidelity. They’re great. But she has to deal with 1040NR and multiple attachments, then coordinate that with the U.K. tax year and SA106. It gets messy and I have to do it. When I’m gone she’ll pay a fortune to tax preparers. Despite earning low income.

Prestigious_Chard_90

So this is why I got several notifications from IBKR that analysts had changed their view of AMD from "hold" to "outperform".

Cobil78

No. I agreed per their rules they could have HL sell anything they don’t trade. They did have HL sell 2 Swiss stocks they *DO* trade. Never mind. It they didn’t have HL sell one U.K. stock they don’t trade. At worst I’ll let that be transferred to my HL trading account. But to switch tickers from BDT.TO to a ticker unknown in the U.K. and usable only for convenience by Americans to pay in US$? Hey, I’m a NY lawyer and my daughter is a British barrister. We know how to read fine print. What we couldn’t imagine is that the wrong stocks would be sold and that BDT which every broker trades like that would have its ticker switched bizarrely. Bird’s shareholder relations office is flummoxed but will try to help. In short: HL bought and later transferred 760 sh of BDT and IBUK recorded it for no plausible reason as BIRDF and blames us. FWIW I was an intern at an OTC house in NYC back in the day. I know how the Pink Sheets (they really were mimeographed overnight on pink paper then) work. I was hoping for useful ideas. I’ll know next week if the Ombudsman will take the case on. After asking around I’ve learned ours isn’t the only IBKR horror story. They just don’t want to fix things. They wouldn’t even sell or deliver “BIRDF”. They admit nothing but blame the victim. Guess you can’t help, more’s the pity. IBKR have no right to take a Canadian stock and attach a French (there is one) or an American ticker to it. I refused to sign an arbitration agreement. So now I’m ghosted. Perhaps they’ll ignore the Ombudsman? HL told me that the other uninvolved shares and fund will be in their hands on the 25th. HL is also digging up the transfer documentation to go with the contract note.

Cobil78

That’s unhelpful. US OTC tickers for TSX stocks aren’t used outside the US. Why would anyone pay the higher bid-ask spread and the double forex commission. No the stock was bought as BDF on the TSX and I have the contract note/confirmation of that. Interactive Brokers is a highly reputable firm normally. But they switched tickets (a clerk’s mistake) and now try to blame me. Or the originating broker — who will have documentation. IBRK’s rules are quite strict: and ISA transfer will have the sending broker sell any stocks not traded by IBUK. What they made HL sell was 2 Swiss stocks that IBUK *DO* trade. And of course they trade BDT. Maybe with all the documentation out there — and given that I UK is blaming HMRC but HMRC’s rules allow brokers to correct ISA mistakes at no tax loss to the customer — the Ombudsman can help. But the Ombudsman has no enforcement power only moral suasion. Does IBKR much less IBUK their U.K. subsidiary have any morals to persuade?

Standard_Ladder_3600

Is it possible to get Robinhood in Canada ?, currently I use IBKR and tired of paying 20$ in commission every time I buy and sell spy 10 option Contracts.

YourFavBeard

This unless you are lpw on liquidity and the broker liquidate your ITM positions. IBKR does this around 1pm all the time regardless of the day

Noafrojo

CFDs really suck I hate trading them personally, IBKR does options and I don’t think you need 2k but they do take commission, I’m considering hopping on there. T212 and Robinhood UK are both looking at options for the UK and T212 said they want to roll out in 2024 which is good news

MyopiaCapital

$IBKR dummy strong

LordCrag

IBKR, Etrade, Ally, WeBull, and Tastyworks all did the same shit. It was appropriate risk management.

GhostSC1

Doesn't IBKR just require 2k to start trading? I don't think you can beat IBKR if trading options in Canada.

xDaze

God bless my europoor ass using IBKR

Ifrontrunfinwit

IBKR way cheaper than TOS outside equities

ngolo_a

Only 1 I know is IBKR, been using for 8 years now.

kananishino

But its market wide, IBKR also had problems

Acrobatic_granny

Same for IBKR

718cs

IBKR lets you trade SPX options all night. Just have to apply to do it

GameLoreReader

https://preview.redd.it/a3nbbduzkcvc1.png?width=1074&format=pjpg&auto=webp&s=761610b97b54ea2142077859304cbbe4db02c52f FUTURES CRASHING. SPY 492 AND QQQ 412 ON IBKR. IF YOU'RE THINKING CALLS, THINK WISELY. HUGE SELLING TOMORROW FRIDAY IN FEARS OF FURTHER WAR ESCALATIONS ON SATURDAY AND SUNDAY.

GameLoreReader

Bro it's already 492 on IBKR.

GameLoreReader

ISRAEL RETALIATING AGAINST IRAN RIGHT NOW. RIP TO ALL CALLS HODLERS. SPY/QQQ MASAIVE CRASH RIGHT NOW ON IBKR TRADING PLATFORM! 

Ditto_B

IBKR. I was talking about overnight SPY, not futures.

BagMyCalls

0 available at IBKR .

turingchurch

They pay you interest for it, and at least for Robinhood, I recall it was explicitly opt in. In the case of DJT, current rate is 200% according to IBKR; I certainly wouldn't mind earning that rate, apart from the underlying stock being worthless.

horst-graben

Use IBKR and you don't have to wish.

Own_Masterpiece_1

Check out SGOV. IBKR UK should have those.

mintz41

You can buy US govt bonds on the secondary market via IBKR I think, and there are plenty of ETFs on platforms like HL, ii, IG etc that you can buy. You also won't get 5% for 3 months, you'll get roughly 1.25%

New-Connection-9088

EU brokers don't seem to like options. I suspect there are many reasons, from legal restrictions to underwriter's insurance to cultural preferences. This means we have to use US brokers with EU presence, like TastyWorks and IBKR. While I think IBKR is a brilliant broker, it's very difficult to calculate and pay local taxes because their reports are all structured for the US. This means most people stick with local brokers in their native language with automated accounting reporting.

Americanboi824

I specifically opened an IBKR for stock lending. I made 7 dollars last year on GME! Don't ask how much it fell...

Manhartx

Yes in theory it's simple. It's just the way IBKR says it all it's confusing with -1s, being in p&l on minus etc. All of it together makes it so confusing that if you are still using the page for first 1-2 weeks it's just unclear whether you just short called or longed.

Manhartx

I might have written something wrong or you misunderstood. I know what a covered call is, and i have the shares. It's just it's very unclear on IBKR that it actually "happened". And that was pretty much my question in the post.

Manhartx

Why ? What's the problem with them ? On paper I've been trading volatility b earnings on some stocks + iron condors and had usually 10-15% return/month last 3 months. Sure, it doesn't mean i am a pro ( I AM DEFINITELY NOT, hence this post about learning more about IBKR) but inherently there's so much to gain if you don't do stupid stuff like buyint 10k 1cent options hoping to be millionaire tmr.

I_hate_alot_a_lot

I do this with floating rate funds and my portfolio margin account at IBKR with a 6.3% margin; I usually look for floating rate funds of 9+% currently. Any revenue beyond the cost of margin goes into stocks to further solidify my portfolio.

Manhartx

Thanks, I've been looking into it but IBKR is so non-instinctive to operate I might've missed it 

MikeInSG

I’m Singaporean and I’ve never got this on IBKR nor any other brokers. I suspect your IBKR tax residency is set to US (if someone could verify), in which case, you change it to Singapore. Otherwise, contact support because somehow IBKR isn’t withholding tax on dividends, which is weird because UNG doesn’t pay dividends (?).

musterkonto1991

Ich habe mir Tastytrade tatsächlich schon genauer angeschaut und sie haben ein richtig gutes Angebot (insb. für US-Bürger). Die Lernumgebung ist richtig klasse und nutze ich auch sehr gern. Die Ein- und Auszahlprozesse haben mich abgehalten, sowie die Steuer (bei IBKR nervts schon richtig) bzgl Währungen. Vllt werde ich ja in nächster Zeit mal umdenken oder ein Zweitdepot bei Tasty eröffnen ;)

_otasan_

Ich wohne auch in Deutschland und war früher ebenfalls bei IBKR. Bin vor knapp eineinhalb Jahren zu Tastytrade gewechselt. Kann ich nur wärmstens empfehlen! Pro: - Mit Abstand beste Trading-App - Handy wie auch Desktop! - Kostenlose Realtime-Kurse Contra: - Kontoführung nur in USD, man muss also seine Trades tagesscharf in EUR umrechnen (ist aber in Excel überhaupt kein Problem Neutral: - Bei Tastytrade gibt es keine bzw. keine vergleichbaren Reports wie bei IBKR - Der genannte Punkt betrifft dann auch den Steuerreport - den es einfach nicht gibt! Man bekommt lediglich eine sehr detaillierte CSV-Datei mit allen Trades/Aktivitäten Ich muss es an dieser Stelle noch einmal betonen, die Trading-App von Tastytrade ist der absolute Wahnsinn! War einer meiner wesentlichen Gründe dorthin zu wechseln! Selbst das Training am Handy ist dermaßen einfach, intuitiv und übersichtlich, dass ich es auch oft zu Hause am Handy mache!

Outrageous-Lab2721

I use IBKR, fast fills using an algo. I always use ask/big mid price.

Bulky_Negotiation850

IBKR crushed it... and raised their divvy. Don't know what guidance is but... Surprise, surprise! It's.down.

ncaa_scammer

How is IBKR not tanking?

gregorakis94

IBKR beets earnings and stock didn’t move …

dacalo

Both IBKR and UAL beat - green day tomorrow.

Spectacl323

IBKR earnings gonna blow out quarter and low IV. Hop in

PapaCharlie9

Well since IBKR generally has the lowest fees for everything else, it's doubtful that you'll find better.

mr_biggg25

I hit 5x on Tesla puts I got Friday, closed today and naturally have went full port into Spy 510 calls for tomorrow and IBKR 100 puts

gregorakis94

Will IBKR be profitable ?

AB__17

IBKR showing 0 available stocks to short for DJT 99.6 % utilization of short How many shorts did u sell??

Healthy-Space-950

Does anyone have any suggestions of which broker platform offer the cheapest access to Euribor and SOFR options? The fees I have seen at the likes of IBKR are so punitive its not really worth entering a trade.

Tiffinyrose2989

300% on IBKR none left to borrow maybe you should move yours there😉

horst-graben

VIX via IBKR

nervusv

IBKR calls? Earnings tonight.

Spectacl323

Anybody playing earnings this week? Right now I have some IBKR lottos given up take in retail participation trading. I will prob lose it all though

Folsey

I usually stay away after 12, but momentum gonna momentum and sometimes I get sucked into making trades in the afternoon. Kinda of a weird thing for IBKR to do .. thanks for the heads up

StalkingStockSocket

My pleasure. One small head-up regarding IBKR, if you want to be a degen sometimes and buy 0DTE options and have a cash account, they don't let you buy ITM strikes after 12 PM EST on same day expiry options. Only OTM strikes. (Side note - majority of the time its not a good idea to buy 0DTE's after 12 PM anyways, But sometimes the heart wants what it wants lol ) This was the only reason for me to open MooMoo.

Folsey

Thanks a lot for the detailed response. I was leaning between IBKR and moomoo but I think IBKR Is the way to go for now. And yeah fuck questrade my dad uses them and gets burned trading options lol

StalkingStockSocket

If you want to trade professionally with multiple trades/day, IBKR is the way to go. Been using it for over 6 months now and quite happy. - Questrade fees will eat you alive gurenteed. - Wealthsimple has options but not ideal for quick in and out. Rather good for slow moving options - Webull has lunched in Canada but without options for now, with promise to bring options in the future - MooMoo (Just found this few weeks ago, seems fairly solid) Fees are comparable with IBKR. Not sure about slippeg as I have yet to place any trade with this. The desktop app seems quite extensive (might be a bit overwhelming for beginners). Overall, I would start with IBKR. They have 2 desktop app - Traders Workstation or IBKR desktop. TWS looks a bit outdated but very reliable and easy to use once you get the hang of it. Should not take more than 2 days to get used to it. IBKR desktop looks fancy new app with very easy to understand Interface, but eats a lot of RAM while running. Both app support hotkeys and charting with integrated Tradingview. If IBKR doesn't work with you for some reason, I would go with Moomoo. Neither of the platform has any minimum account balance requirement to have the account active.

malceum

The short interest fee is built into the puts. Right now, it's around 125% annually according to IBKR. Previously, it was over 300%. So you have a lot of things working against you (theta, vega, and short interest).

PapaCharlie9

These are all great questions that every trader should be asking themselves at least once a year. Everything that follows is my personal opinion based on my own experience. Not intended to reflect any kind of collective wisdom. > - What is a more methodical approach to determining when to open / close a position? How to select the strike price / expiration dates? For me, this falls out naturally from higher-level decisions, like what the opportunity is and the optimal way to exploit the opportunity. For example, if the opportunity is that IV is higher than my forecast RV for this particular contract series, the timing of when to enter/exit is driven entirely by the time frame of my RV forecast. > What's a way to evaluate the result of an options position on margin requirements? Not just while opening the position, but on a continuous basis i.e. how much is a position contributing to margin requirements, and what will be the changes if I was to close it. (on ibkr) Margin requirements for what, exactly? And what kind of margin, RegT or PM? If PM, the platform ought to give you enough tools for figuring that out. Maybe by "margin requirements" you meant buying power? That's easy: options don't contribute anything to buying power, they can only be a debit. At least for RegT. > How should one model overall option portfolio volatility to market trends? Most of my positions are on individual stocks, and sometimes they are highly vulnerable to broader market sentiments. I'd like to be able to model what-ifs (a) each stock declines by 5% (b) overall market declines by X% etc. Beta-weighting is one common method. Some platforms provide that feature directly once you enable it. You can calculate your own standard deviation from total portfolio value with a spreadsheet and some record keeping. Doing what-if scenarios is a really good idea, but doesn't really have anything to do with overall portfolio volatility tracking. You can use built-in pricing models for that. For example, Power Etrade has a pretty nifty multi-dimensional profit/loss modeling feature. I believe thinkorswim does also. I'd be surprised if at least one of the IBKR platforms did not include that feature. Did you check them all?