Options traders live or die by the option chain, which is why we consistently strive to streamline and ultimately improve the options chain functionality in the OptionsHouse trading platform. Our most recent enhancements to the chain give our customers more control of their trading experience.
After logging in to your account, you can access the options chain configuration menu by clicking on the “custom” button in the upper right-hand area of the options chain.
Want to get a taste of the OptionsHouse platform as it was meant to be experienced? Then simply download Google Chrome (it shouldn’t take more than five minutes) and log in to your account. You should notice a world of difference…
That was easy, wasn’t it?
Why Google Chrome?
We could get into all the nuts and bolts of the technology behind Chrome and how it gets along so well with our platform, but what’s the point? All you need to know is that after extensive testing, we’ve found the browser of choice for users on the OptionsHouse platform is Chrome. (more…)
While not a new concept, Weekly and Quarterly options are gaining in popularity due to the flexibility they allow the active options trader. OptionsHouse currently enables all eligible customers to trade these options.
So what are these popular instruments? Weeklys and Quarterlys are named so because instead of the standard one-month contract term, these options have a one-week or one-quarter lifespan, respectively. They mostly have the same contract specifications as standard options and generally trade in the same way – investors can execute a Market-on-Close vertical spread with a trailing stop, for example. Traders can even combine Weeklys and Quarterlys with standard options to build complex time spreads.
This is where things get a little interesting. All Weekly options expire on Fridays, but some settle in the morning while other settle in the afternoon. Additionally, the last trading day for Weekly options on the Dow Jones Industrial Average Index (DJX) and the S&P 500 Index (SPX) is Thursday, while the others stop trading on Fridays.
Fast matters. This maxim is true for every investor, whether you are seeking out a trade idea or relying on lightning-quick execution. With that in mind, OptionsHouse recently launched the ability to sign up for an account, fund that account, and begin trading, quickly and efficiently, with Electronic Signature.
A relatively recent development in the online world, the e-signature process offers the opportunity to securely (very securely) respond to a set of questions only the user can answer in order to verify their identity online. This allows prospective customers (and existing customers looking to set up an additional account) to safely and easily sign their name to a document and fund their account without ever picking up a pen or licking a stamp.
Any questions about how the electronic signature works? Contact an OptionsHouse customer service representative toll-free at 1-877-653-2500 during our regular hours (M-F, 7 a.m. until 6 p.m. CT, except exchange holidays). Speaking of electronic, you can also access our live help feature while you are logged into your account or send us an email at customerservice@optionshouse.com.
Over the past two years, as banks and brokerages of all sizes spar with economic volatility, investors have become increasingly curious about what measures are in place to guard their funds against any unexpected tumult at their financial institutions. Thankfully, there are federal measures in place for both banking and brokerage firms.
The Securities Investor Protection Corporation (SIPC) insures investment accounts in the event that a brokerage closes due to bankruptcy or other financial difficulties and customer assets are missing. SIPC will replace said funds, up to $500,000 per customer (including up to $100,000 in cash) for eligible customer accounts. (Note: The cash amount of SIPC insurance increased to $250,000 from $100,000 in September 2010).
OptionHouse’s clearing firm, Penson Financial Services, Inc. (“PFSI” or “Penson”), offers additional account protection through something called “Excess SIPC Insurance.” While OptionsHouse is confident we will be around to serve your investing needs for many, many years, we also recognize that it is important that our customers are as confident and secure as they can be. Penson recently increased this level of “excess SIPC insurance” coverage. OptionsHouse customer accounts are now protected (up to their net equity) for loss of securities and cash held at PFSI up to an overall firm aggregate of $600,000,000 across all Penson customer accounts. This is subject to a maximum limit of $150,000,000 per customer (in securities value) and $1,900,000 (in cash value). (Note: The cash value of Excess SIPC Insurance increased to $2.15 million from $1.9 million in September 2010). This outside/supplemental insurance protection is in addition to SIPC, which is provided by the Securities and Investors Protection Act, which is administered by SIPC. For more information regarding SIPC, please visit their home page at sipc.org.
Today’s trading tool tip is about the Day Trading counter, which you will only see if you are actually making Day Trades. It’s bold and red and hard to miss, but it’s important you know the facts about Day Trading.
A Day Trade is a single option or stock position that opens or closes during the same day. A good rule of thumb is that any trade held overnight is not a Day Trade. Simple, right? A few more important details.
1. A sell to close (buy-in) of an existing position will be treated as a liquidation and the subsequent repurchase (sale) will be treated as the establishment of a new position. These trades will not be subject to the rules affecting Day Trades. Any other trades in the overnight position will be considered a Day trade and subjected to Day Trading rules.
Huh? All this means is that if you close something completely and then buy more of it, you aren’t making a Day Trade. (more…)
