SBatch

45 day expiration executed one week after earnings 25/10 Delta IC has a 100% winning percentage and a whopping 396% return over the past three years. It is also a little further out of the money making it a somewhat lower stress trade. Considering we are just over 7 days after the FB earnings release I will be looking to put this trade on Monday. Sell 25 Delta Call & Put, Buy 10 Delta Call & Put Expiration: 45 Days Risked: $1870 Total Return: $7399 % Return: 396% Commissions: $171 % Wins: 100% Wins: 12 Losses: 0 Gain: $7399 Loss: -

The Gain/Loss log within Tradier provides a full P&L. It can be copied and pasted into Excel for manipulation. Here are the columns: Gain Loss Symbol Quantity Cost Proceeds G/L ($) G/L (%) Close Date Term I also just discovered that a custom date range P&L PDF can be created in the Apex website. Thanks @ChadK for the heads up.

Yes, a number of third party software vendors are compatible with Apex, but this cannot be done with a Tradier account alone, correct? Or can it be done directly with Apex?

No, one does not have the ability to generate that type of report. All monthly account statements and tax documents are provided by their clearing firm Apex. They provide a combined 1099 as well as a 1042-s for foreign clients. There is also an active gain/loss log that can be easily exported to Excel.

I was referring to the order issue and I am not certain but I also do not believe ONE has an active portfolio position's window (but I could be wrong on that). With TradeHawk there is no need to also move to the Tradier interface as everything is available within TradeHawk so it runs seamlessly.

I am a full time options trader. This is how I earn my living, as such I clearly am not "thinking small" nor am I a "newbie" as I have been trading options for over ten years. Your constant closed minded stance to any other broker besides IB does nothing to further this discussion. I traded with IB for five years, have you ever traded with Tradier? The answer is no and therefore you are in no position to compare the two. After trading with both (as well as OptionsXpress, TOS, Lightspeed and Options House) I am able to make comparisons based upon experience not closed minded speculation. That experience when taking into consideration cost, technology and execution reveals that Tradier is by far the superior offering for US residents that trade a high volume of option contracts. Increasing one's returns by as much as 20% per year is a distinct possibility for the high volume/professional trader. This is the exact opposite of "thinking small."

Customers do not also have to pay the $40 Steady Options fee if they subscribe to TradeHawk, just the $298 monthly TradeHawk fee which includes unlimited commission free stock and option trades. TradeHawk is fully integrated with Tradier whereas ONE is not, it remains very disconnected for much of the data.

TradeHawk is an excellent platform for use with Tradier. Also, I have only seen pass through commissions on Index option orders and nothing on equity option orders. I agree, execution is as good as or better than other brokers I have used (OptionsXpress, IB, TD and TradeMomster/Options House).

Reminder - IB does not margin call, but rather automatically liquidates with a liquidation algorithm.

I did not test Dynamic Trend as they do not allow for commission free trading with that platform (routing will be the same with all Tradier platforms offered). TradeHawk is a very good platform. It still needs some refining which they are in the process of doing. They continue to be extremely open and responsive to input and it's getting much closer to where it needs to be. One point here is if anyone ever runs into an issue with an outside platform, they can always use the basic web-based Tradier platform as a fallback. There was a time that TradeHawk had an issue as they moved servers overnight which caused issues the next day, but I simply used the Tradier platform during that time. The main remaining issue with TradeHawk is the font size is too small and the user cannot adjust it. They are in the process of correcting this with the next update.

IB absolutely gets paid for their order flow. They simply like to mislead customers by stating that "IB does not sell order flow to another broker." This of course is a distinction without a difference because they route directly to the exchange that pays them for the order flow so there is no other broker in between, meaning their rebate is even larger than those who use a wholesaler. This is from their most recent quarterly order routing report: "Payment for Orders: IB receives payments for certain orders in varying amounts from U.S. options exchanges, specialists and/or market makers pursuant to the mandatory marketing fee programs that have been adopted by the exchanges and approved by the SEC. If multiple exchanges are quoting at the NBBO for an option order and IB has discretion as to where to send the order or a portion of it, IB generally will “break the tie” by sending the order to an exchange where it will receive the most payment for the order, or to an exchange designated by a firm from whom IB will receive the most payment at that market."

I think you may have seen a different member with issues regarding the transfer. I was actually with OptionsXpress not IB. I did do an ACAT and it took about 5 business days. All information was properly transferred from OX to Tradier in my case.

Here is a quick update on Tradier while using the TradeHawk platform. Tradier execution continues to be as good as OptionsXpress was for me (and they have very good execution). The TradeHawk platform is very good. There are some things that need tweaking but they are ridiculously responsive (see email below). I will mention that you do need to have a large monitor (or multiples which is a compatible configuration) to work with this platform. All windows are found on the main "Command Center" page, rather than multiple pages or tabs. This takes up a lot of screen real estate. They can all be detached or maximized, but there are times where you will want to work with multiple windows simultaneously which is most easily done from the Command Center. I will continue to make suggestions to the developer to improve the platform and as mentioned above here is an example of that thus far: Hi Scott, Looks like many of your suggested changes have been added to version 1.0.12. I'm messing around with them now. 1. For Cost basis of position, there is a button up top of the Risk Portfolio that allows a toggle between cost per contract/share and total position cost. Also, a current VALUE column has been added. 2. If you choose a confirmation box before a trade, when you go to modify an order from the Order page, a box will appear confirming your changes. 3. Mid point for spreads not there yet...give us a bit on that one. 4. For stock traders, auto exit order is available now. Let me of any questions. Thanks, Lex Kevin "Lex" Luthringshausen OptionEyes, LLC lex@optioneyes.com M: 312.343.5273

No you really shouldn't have to. It's extremely robust and primarily options based. I actually just sent them another suggestion today and he agreed again to add it.

It's not proprietary to Tradier but rather to the MM where the order is directed. The majority of their option orders are sent to Ciitadel. They have very sophisticated smart routing technology. You can learn more here: https://www.citadelsecurities.com/

They are but he said that's going to be a while.

@cwelsh I started trading with Tradier this month and have been very happy with execution and client support. However, while their platform is functional it is bare bones and missing tons of features we would all want. Of course this is basically the premise for their entire model - don't spend on platform, overhead, etc. and offer the unlimited $0 commission trades. Until this week they did not have a solid platform one could subscribe to and still get the unlimited commission free trades. Now they are offering TradeHawk and it is pretty sweet. I had a demo with one of the founders yesterday. It is a new platform but the founders have been developing software in the prop space for decades, this is their first retail offering. The subscription is $297 per month (in this case the $40 SO fee is not necessary). What I really like is the founders are open to suggestions. I gave them two suggestions in my demo yesterday and he said that they would have them added by the end of the month. This is a good opportunity for our group to have significant input into the development of a platform. The more of us that subscribe the more pull we will have. You can check it out here: https://mytradehawk.com/

It is, but I learned that it cannot be utilized with the $0 commission offer. Therefore, I am trying the 30 day free trial with TradeHawk. It is $297 per month with the unlimited $0 commission trades. Also, in this case one does not also have to pay the $40 SO fee. I actually have a demo scheduled for today.

Regarding this question: "Is it $100K per short call ( ex 10 short calls = $1 million)?" To be clear that is not the policy. A $100,000 minimum account value is required to be granted the option approval level to write naked calls. Once approved (and the balance is kept above $100,000) the Reg-T rules are utilized to determine the margin requirements.

No, I'm not saying that $0 commissions has anything to do with the $100,000 requirement. I didn't remotely insinuate this. OptionsXpress has the same policy, so does SpeedTrader and a variety of others. I didn't write the policy nor did I say I agreed with it. However it doesn't matter to me. If you don't like to policy then don't open an account with them.

Kim had mentioned adding a long far out of the money call to cover the short call (not an unbalanced Delta offset). All Reg-T brokers would consider your example of unbalanced to the short call side a naked, regardless of delta, etc.(Portfolio Margin would not have such a strict requirement). Technically this is a straight out naked call. If you entered a ratio of one long call against two short calls on a stock that was at $10 and moved to $50 on a buyout, how do you think your spread would fare? This is obviously what they are defending against. And for the record, they are not outside industry norms here. OptionsXpress has the exact same requirement.

Haven't they also broken so far away from the norm with $0 commissions? If you trade nakeds in a huge amount then Tradier is not for you. However, you have already stipulated that you do not, so why such the negative focus? Just keep open your IB account to trade nakeds and the problem is solved quite simply.

This is only when holding a pure naked call (which we never do). This would not apply to straddles or our straddle/short strangle trades.

I put it in the SVXY thread when I executed it:

I began trading in my Tradier account today. So far so good - filled both my SVXY trade and the RUT Steady Condors trade at better than the mid. Their user interface/trade ticket is very basic but also extremely easy to use. It's really just a matter of building a custom order for each trade which is simplistic. I will continue to use OptionsXpress for my research and analysis and just use the Tradier online platform to place the trades. In the future I will probably begin using the Option Dynamics platform by Dynamic Trend. It has some incredible features that I have not seen elsewhere and I did verify that it works seamlessly with Tradier so once launched there is no need to access the Tradier website.