E46 BMW Social Directory E46 FAQ 3-Series Discussion Forums BMW Photo Gallery BMW 3-Series Technical Information E46 Fanatics - The Ultimate BMW Resource BMW Vendors General E46 Forum The Tire Rack's Tire Wheel Forum Forced Induction Forum The Off-Topic The E46 BMW Showroom For Sale, For Trade or Wanting to Buy

Welcome to the E46Fanatics forums. E46Fanatics is the premiere website for BMW 3 series owners around the world with interactive forums, a geographical enthusiast directory, photo galleries, and technical information for BMW enthusiasts.

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact contact us.

Go Back   E46Fanatics > Everything Else > The Off-Topic > Money Matters

Money Matters
Financial, Stock, Investment etc. posts here.

Reply
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 07-01-2011, 05:53 PM   #1
XLCOR_62
Registered User
 
Join Date: Mar 2011
Location: Missouri
Posts: 21
My Ride: 2001 325Ci
A couple questions about options permissions and different trading platforms

Hey guys,

I just have a few questions about options trading and what platforms you guys think are good compared to price.

I have used TD Ameritrade for five years and have never really considered other platforms until recently. I am an Apex member and hold a few mutual funds and I trade stocks. I have done a lot of research into options trading and I want to add it to my trading strategy. I applied to be able to purchase options and they will only let me do covered calls (Tier 1). I understand that covered calls are "safer" because I would be selling calls on stock that I already own, BUT, I really prefer to have the leverage of buying a call and keeping all of the gains if it goes above the strike price rather than selling a call on a stock that I own and then having my stock called away from me and limiting what I could have gained above the strike price. I know that covered calls could be great in a stock that is just moving sideways, but with today's market roller coaster, it's hard to find a stock that is sideways. Personally, I feel that it is my money to lose if I make lame-brained calls or puts, so let me swim....I can lose just as much money in stocks so I guess I just don't understand why they limit one and not the other (though...if I have to ask, that's probably good enough reason. lol)

Ok, after all of that, I have looked into different platforms and I have heard that Zecco prices options trading at 4.95 + .65 per contract. I have also heard that they are more lenient on options permissions (maybe it would be easier to be approved for Tier 2). I am curious if anyone uses Zecco and what they think about it.

I don't plan on being the next Warren Buffett, but I do plan on investing my money wisely and making it work for me. If it is necessary for me to start of with training wheels (covered calls), then so be it, I just think it requires a lot more money to make money that way.

Thanks for any input (and patience! )
XLCOR_62 is offline   Reply With Quote
Old 07-03-2011, 04:05 PM   #2
Wraisil
Registered User
 
Join Date: Apr 2004
Location: Acworth, GA
Posts: 216
My Ride: 2010 Infiniti G37
I use thinkorswim, no "tiers" of options trading, just options enabled or not. To get enabled with a funded account takes all of sending in the form asking to be enable to trade options. Bonus, since TD bought them, you're probably familiar with most of the stuff on the trading platform.
Wraisil is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Censor is ON





All times are GMT -5. The time now is 11:12 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
(c) 1999 - 2011 performanceIX Inc - privacy policy - terms of use