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Best place for call options?

  • 26-02-2024 10:19pm
    #1
    Registered Users, Registered Users 2 Posts: 464 ✭✭


    I have an InteractiveBrokers and Degiro account I set up a good while back, but just wanting to check if either of these would be considered the best for trying call options?



Comments

  • Registered Users, Registered Users 2 Posts: 1,684 ✭✭✭marathonic


    I use Interactive Brokers and wouldn't be tempted to leave.

    I almost exclusively sell options short. Their rates are available on their website but that tends to be about the maximum I pay. In some cases, I actually get paid the commission for trades placed.

    Degiro's option trading fees seem good but about 90% of my trades are US based options - so the forex is where they'd hit me hard compared to Interactive Brokers.

    To give examples of commissions, here are a couple of my recent trades:

    26th February: Sold 2 MMM Mar 28th cash secured puts at an $88 strike for $0.89 each and paid $1.38 commission. I'd have no issue getting assigned these at an $87.12 cost basis and would proceed to sell Covered Calls.

    23rd February: Sold 10 UNG Mar 1st cash secured puts at a $13.50 strike for $0.09 each and paid $5.40 commission. I play the weekly options here as I believe Natural Gas has to be close to bottoming out here. It's a risky trade and I'd prefer not to be assigned. If assigned UNG, I would sell Covered Calls but they would be a lot closer to the money than what I'd sell for MMM; possibly even slightly in-the-money. UNG is my only trade that involves an underlying that I don't want to hold long-term. You've got to be very careful with the contango/backwardation.

    22nd February: A relatively large forex trade and paid $2 commission

    21st February: Sold 200 XOM shares and paid $1.20 commission - these had been assigned to me at $97.50 back in January. I had sold Covered Calls at a $102 strike for expiry the prior Friday but decided to close those out at a loss instead of letting the shares get called away. I'm likely to get back into XOM on any pullback but do still have exposure to energy via UNG (a very risky one) and SLB.

    My current positions, that expire throughout March, are all out of the money at the moment and include: WFC, UNG, SLB, NKE, MTCH, MMM, KHC, DE, CHWY, BNTX and ASML.



  • Registered Users, Registered Users 2 Posts: 523 ✭✭✭Stormington


    I'd suggest IB or Tastytrade.

    Latter needs to be funded via curerncyfair but I like the site and app and use it for options only.

    Do degiro still offer US options? Did they move to European options only a while back?



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