Welcome to SteadyVol

[SBatch 2,222]

58 minutes ago, jroback said:

Looks like those of us on ToS will move to a zero-commission structure when accounts move to Schwab. Should be more equivalent to the package that Tradier offers. Time will tell whether fills and customer service get worse with that change, however. 

Fills will always be the same with all brokers as VIX options only trade on the CBOE. Schwab is a very good company IMO.

[Infineo 22]

1 hour ago, jroback said:

Looks like those of us on ToS will move to a zero-commission structure when accounts move to Schwab. Should be more equivalent to the package that Tradier offers. Time will tell whether fills and customer service get worse with that change, however. 

Hmmm...Unless I am missing something, I don't see any change with TOS to Schwab move. On TOS its $0 commission for option trade + .65 per contract. It's the same on Schwab. I did contact TDAmeritrade in the past for a better price and they reduced it to .50 per contract for me. Hopefully that stays when my account is moved. 

I am going to reach out to them again and see if they can get it somewhere close to .40 cents because I see Tradier is .35 per contract.  
Doing some calculations on my end, I think Tradier is cheaper even with the $10 monthly fee + the contract prices compared to what I am paying for TOS. 

[Bullfighter 125]

I moved a small portion from my TOS portfolio margin account to Firstrade and my fills are comparable for the same VIX structures in both platforms. It takes seconds to setup a trade in TOS, while Firstrade is painful. For a non-frequent trade like Steadyvol it is worth it. For something more frequent or more sophisticated, specially if the fee is a much smaller percentage of the profit, I will stick with TOS.

[kirkr1517 108]

On 3/28/2024 at 8:09 AM, Kim said:

Honestly, I don't really understand why people don't switch to Tradier. Zero commissions, one of the lowest VIX fees, excellent customer service, competitive execution etc. If I wasn't in Canada, I would switch a long time ago.

I signed up for Tradier, so zero commission cost and either $.35 or $.10 for VIX will hopefully make the SteadyVol an option for me.  So with Tradier, does anyone know what the commission impact would be on performance?  Sorry to ask but I don't have the SteadyVol subscription, so I can't tell for sure what the impact would be.

[kaush 0]

@SBatch @KimI have been using Fidelity for trading SteadyVol for the past 3 months as I have been testing out the service. Paying a lot in commissions so want to lower them now because I also want to utilize SteadyYield. Should I go with Tradier or FirstTrade?

Seeing 0.35 on Tradier's website - does the pro account have an option to lower the fees to 0.10 if I email them? And what is the fee structure with FirstTrade? Do SteadyOptions members get a deal with FirstTrade?

[Darren Dawson 9]

On 3/30/2024 at 11:01 AM, kaush said:

@SBatch @KimI have been using Fidelity for trading SteadyVol for the past 3 months as I have been testing out the service. Paying a lot in commissions so want to lower them now because I also want to utilize SteadyYield. Should I go with Tradier or FirstTrade?

Seeing 0.35 on Tradier's website - does the pro account have an option to lower the fees to 0.10 if I email them? And what is the fee structure with FirstTrade? Do SteadyOptions members get a deal with FirstTrade?

Kaush,

I have some questions for you since you are Fidelity to test drive SteadyVol.

What was the drag in Fidelity for the SteadyVol trades?

What option trading level in Fidelity do you need to have for the SteadyVol trade?

Thanks

Darren

[kaush 0]

@DarrenWhat do you mean by drag exactly? Quite new to this so don't understand all the technical terms.

 

I had to get Tier 3 at Fidelity; they only allow it on one account at a time so open a new account and request Tier 3 on that account if you want to keep your stocks and options purchases separate.

I just opened FirstTrade and applied for Tier 4 and was approved within 2 days. I plan to move some assets there to do both SteadyVol and SteadyYield.

[kaush 0]

1 minute ago, kaush said:

@DarrenWhat do you mean by drag exactly? Quite new to this so don't understand all the technical terms.

 

I had to get Tier 3 at Fidelity; they only allow it on one account at a time so open a new account and request Tier 3 on that account if you want to keep your stocks and options purchases separate.

I just opened FirstTrade and applied for Tier 4 and was approved within 2 days. I plan to move some assets there to do both SteadyVol and SteadyYield.

Just read about drag. I honestly cannot answer this because I did not look. I try to make the trades as quickly as possible upon posting and for the most part I have been able to get the same or better price when posted. It does happen that sometimes I do not get it and I have to pay more (or the loss is more when selling) but that's may be 2 out of 10 times in the last 3 months. I also did not place every single trade posted; I missed some because I did not hit the follow button properly on every trade so adjustments were missed and that impacted some returns.

 

So far in 3 months, I have paid $311 in options contract fees to Fidelity (I only have SteadyVol) and I'm in a profit of $1,423 as of today. I think FirstTrade would be much better for me.

[Darren Dawson 9]

6 minutes ago, kaush said:

@DarrenWhat do you mean by drag exactly? Quite new to this so don't understand all the technical terms.

 

I had to get Tier 3 at Fidelity; they only allow it on one account at a time so open a new account and request Tier 3 on that account if you want to keep your stocks and options purchases separate.

I just opened FirstTrade and applied for Tier 4 and was approved within 2 days. I plan to move some assets there to do both SteadyVol and SteadyYield.

Drag - How much were you losing to fees and commissions in Fidelity? Could you give me a rough for idea for the SteadyVol trade?

Do you nee level 3 in Fidelity to do the SteadyVol trade? or can you do it at the Spread Level?

 

 

[kaush 0]

1 minute ago, Darren Dawson said:

Drag - How much were you losing to fees and commissions in Fidelity? Could you give me a rough for idea for the SteadyVol trade?

Do you nee level 3 in Fidelity to do the SteadyVol trade? or can you do it at the Spread Level?

 

 

I think we posted at the same time - So far in 3 months, I have paid $311 in options contract fees to Fidelity (I only have SteadyVol) and I'm in a profit of $1,423 as of today. I think FirstTrade would be much better for me as I would have lost much less in commissions.

I was not able to place one of the trades initially so when I called them they said I need Tier 3 (or level 3). It takes a couple days to get approved. 

[kaush 0]

1 minute ago, kaush said:

I think we posted at the same time - So far in 3 months, I have paid $311 in options contract fees to Fidelity (I only have SteadyVol) and I'm in a profit of $1,423 as of today. I think FirstTrade would be much better for me as I would have lost much less in commissions.

I was not able to place one of the trades initially so when I called them they said I need Tier 3 (or level 3). It takes a couple days to get approved. 

Here's my spreadsheet of trades that I placed this year; you can see all the fees. If you have the time and energy you can likely look up which ones I ended up missing - though I don't think there's an easy table of them like that of SteadyOptions trades.

History_for_Account.csv

[J10 22]

I decided to try the SteadyVol trades with IBKR for myself, reducing commissions by taking an additional long call and foregoing the PCS. It is still very early, but so far it has been profitable.