[TheOptionClub.com] Re: options house

 

I use OptionsHouse. I moved to them from CharlesSchwab about a year ago and I don't know much about TOS. I like Options House. However, they are new and going through some growing pains. Probably not to use if you are brand new to options or only trade a few contracts. They require $1M in the account before they give Portfolio Margining. You can't do GTC orders for spreads (any multi-leg option orders). No email or text notifications, but that's coming in 2nd quarter of this year they tell me. The biggest hang up I think someone would have is the lack of the visual. They do offer a risk graph (P&L Calculator under Tools) but you can only use 4 legs (no more) and it erases each time. To monitor the position you have to continually fill out each leg of your position and what you paid for it each day. However, if you don't need the visual graphs and manage by the greeks, Options House is great! However, their greeks are only updated every 15 minutes, but I don't cut it so close that this bothers me. Their Profit and Loss screen is up to the minute using the LAST price and I always know where I stand. Execution is very fast, but I've never been filled at a better price than what I asked for (about 25% of the time I did at Charles Schwab). I'd be grateful for an explanation of that if anyone knows why.

I'm reading over this post and it seems overall negative, but I like Options House and will stay. I can put in a multi-leg order for 50 contracts (total) and only pay around $22 for total commission. I save a ton of money on commissions, but do without many bells and whistles too.

--- In OptionClub@yahoogroups.com, "skoter22" <skoter22@...> wrote:
>
> I know TOS is the preferred brokerage here but does anyone use or had any experience with Options House ?
>

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