Follow the steps below to login to your OptionsHouse Account:
- Go to: www.optionshouse.com
- Click on the "Secure Client Login" button in the top right hand corner of the page.
- Enter your username and your password in the space provided.
- Click the Login button.
- You are now logged in.
If you are having trouble:
1) Make sure you are using the same username that you provided when you created your login information.
2) Check to see you do not have "caps lock" on (sometimes indicated by a small light on the keyboard next to or on an icon of a padlock marked with a capital "A" in it.)
3) Check to ensure you have entered the correct password (passwords are case sensitive.)
If you think you have forgotten your password, click "Forgot your password?" This will begin the process of creating a new password:
1) Fill out the form fields.
2) You will be provided the security question you selected when you created your Login.
3) Provide the answer to your security question.
4) You will be prompted to enter a new password and confirm this new password.
You will then be directed back to the login screen to re-enter your username and new password.
If you still have trouble logging in, please call Customer Service toll free at 1-877-653-2500.
You can reach a Customer Service Representative in one of three ways: through the Live Chat feature by calling 1-877-653-2500 or by e-mailing customerservice@optionshouse.com. Customer Service hours are 7:00 AM to 6:00 PM Central Standard Time, Monday through Friday, excluding exchange holidays.
In cash accounts, customer trades must be fully paid for on or before settlement date which is the day after the trade date for option transactions and three days after the trade date for stock trades. Investors with cash accounts cannot initiate or hold uncovered short positions. In a margin account, customers are allowed to borrow money to fund transactions. Margin accounts may also utilize acceptable collateral to finance requirements and debit balances. Margin accounts may also (if approved) hold complex positions including uncovered short positions. Margin should only be used by sophisticated investors who understand that losses can exceed their original investment.
All accounts are required to maintain a minimum balance of $100.00 in order to place a trade. The minimum account balance is not the same as the minimum initial funding size. The minimum initial funding size is $1,000 for a cash account and $2,000 for a margin account.
We offer the following accounts: Individual , Corporate, Roth IRAs, Sep IRAs, Traditional IRAs, Joint , UTMA/UGMA , Trusts, Partnerships, Investment Clubs, and Educational IRAs.
The available cash balance in your OptionsHouse account is currently swept nightly into the Scudder Money Market Portfolio. The interest rate on this fund fluctuates daily.
Check writing is available for all accounts. Check-writing privileges are free, as are the first 40 checks ordered. (Check re-order fees are $5.00 for every 100 checks).
In order to receive a debit card, you must have a minimum balance of $10,000 and cannot be considered a pattern day trader. There is also a $30 annual fee for debit cards.
Click here for additional information from PenFlex.
For your protection, OptionsHouse is a member of the Securities Investor Protection Corporation (SIPC), which protects its members' securities customers up to $500,000 (including $100,000 for cash claims). An explanatory brochure is available upon request or at www.sipc.org.
Additionally, our clearing firm holds excess SIPC Insurance ($200,000,000 in the aggregate), over all customer accounts, subject to a maximum limit of $900,000 per customer in respect to cash. This "excess SIPC" protection is in addition to the protection provided by the Securities and Investors Protection Act, which is administered by SIPC and is subject to certain conditions and limitations, details of which are available upon request.
Note that SIPC and excess SIPC provide coverage against loss of securities and cash, not against market depreciation, fluctuation in market value of your securities, or trading losses.
In an IRA account, if approved, you can BUY stock, calls, puts and option (debit) spreads. You may also SELL covered calls and BUY protected puts.
To deposit a check into your account, write your account number and phone number on the check and make the check payable to Penson Financial Services.
Send the check to:
OptionsHouse, LLC
303 E. Wacker Drive
Suite 700
Chicago, IL 60601
The typical clearing time for personal checks is three business days following the deposit date.
You can request a check withdrawal through the OptionsHouse Trading Platform.
- Click on the "Transfer Funds" tab at the bottom of your OptionsHouse Account screen. (Note: IRAs and specialized accounts do not have this tab on their platform. Please call customer service toll free at 1-877-653-2500)
- Select "Check Request"
- Specify the Amount.
- Click "Next".
- Verify the information. If incorrect, click "Edit" and change. If correct, click "Submit."
Checks will be sent to the address associated with your account.
We require a minimum funding level of $1,000 to open a cash account and $2,000 to open a margin account.
You can fund your account in a number of ways including a personal or cashiers check, electronic transfer (ACH), wire transfer, or through an ACAT from an existing brokerage account.
If you have already established an ACH Relationship with your bank:
- Click on the "Transfer Funds" tab at the bottom of your OptionsHouse Account screen. (Note: IRAs and specialized accounts do not have this tab on their platform. You may also fund your account through check, wire transfer, or account transfer - ACAT - from an existing brokerage account. Please call customer service toll free at 1-877-653-2500 for additional assistance.)
- Select "ACH (Electronic Funds Transfer)".
- Specify the amount and direction.
- Select an ACH Relationship.
- Click "Next".
- Verify the information. If incorrect, click "Edit" and change. If correct, click "Submit."
If you have not already established an ACH Relationship between OptionsHouse and your bank, then follow the steps below. (If you do not have an ACH relationship established you will see a message to this effect on your screen.)
- Click "Establish A New Relationship".
- Provide the information requested including Bank Name, ABA Routing Number, Account Number, Name on Account, and Account Type.
- Enter an amount and a direction you want to transfer and click "Next."
- Verify the information. If incorrect, click "Edit" and change. If correct, click "Submit."
- Click the "Print ACH Authorization Form" and print the form.
- Attach a voided check to the form and send it to:
OptionsHouse, LLC
303 E. Wacker Drive, Suite 700
Chicago, IL 60601 - Voided checks must match the name under which your OptionsHouse account was established. We can not accept third-party checks, temporary checks, or deposit slips in place of a voided check. If you cannot supply OptionsHouse with a voided check, we will accept a letter on official bank letterhead stating your account # , ABA routing #, and the name on the account.
Outgoing Wire Transfer
You can request a wire transfer through the OptionsHouse Trading Platform.
- Click on the "Transfer Funds" tab at the bottom of your OptionsHouse Account screen. (Note: IRAs and specialized accounts do not have this tab on their platform. Please call customer service toll free at 1-877-653-2500).
- Select "Wire Transfer"
- Specify the amount.
- Enter the bank or financial institution information including Bank Name, Bank ABA Routing number, Account Number, and the Name on the Account.
- Click "Next."
- Verify the information. If incorrect, click "Edit" and change. If correct, click "Submit."
Wire transfers received after 1:00 pm (CST) will be processed the next day.
Incoming Wire Transfer
Use the information below to arrange an incoming wire transfer with your bank or other financial institution. Please send an email to customerservice@optionshouse.com notifying us of your name, account number, ABA number, Federal reference #, any third party beneficiary information and the date and amount of any incoming wires you plan to initiate.
The cut off time for incoming wire transfers is 12:00 noon CST. Settlement for a wire transfer typically occurs on the same day but timing, circumstances and contra parties can delay this settlement by one to two days.
INCOMING WIRE INSTRUCTIONS (USD):
(If you use these instructions with a foreign currency, it will automatically be converted to USD)
JP Morgan Chase
277 Park Ave
New York, New York 10172
ABA: 021000021
Acct: 066600030
Beneficiary: Penson Financial Services
Final Beneficiary: Customer Name
Account #: OptionsHouse Customer Acct Number
INCOMING WIRE INSTRUCTIONS (Other than USD):
JP Morgan Chase London
SORT CODE: 609242
SWIFT BIC CHASGB2L
IBAN: USD 6B59chas60924222075801
GBP 6B16chas60924222075802
EUR 6B86chas60924222075803
CAD 6B32chas60924222075804
Beneficiary: Penson Financial Services
Acct: 0022075801 for USD
0022075802 for Sterling
0022075803 for Euro
0022075804 for Canadian Dollar
Final Beneficiary: Customer Name
Account #: OptionsHouse Customer Acct Number
In order to transfer your account from another financial institution to OptionsHouse, you must complete an ACAT form and send it to OptionsHouse with a copy of your most recent statement. Account types must match in order to complete a transfer. Transfers normally take 5-10 business to be completed. Please contact Customer Service to obtain an ACAT form.
There are a few different options on how to transfer your account:
Transfer all assets in kind: this is a full transfer that will transfer all of your current positions and cash, as is.
Liquidate and transfer: this is a full transfer that will transfer your entire account, but liquidates all your current positions and transfers everything as cash.
Partial transfers: this allows you to pick specific positions you would like to transfer to OptionsHouse.
Your account balance is available in several places when you login to your OptionsHouse account:
The entry page once you have logged in is the "Account" tab. If you are not on the "Account" tab, click on the tab located in the upper left-hand corner of the screen.
The top section of the screen is called "Account Details." It displays your current Cash Balance, Option Buying Power (excluding commissions) and other account details.
You can also see your Account Value in the upper-right corner of the Account tab (In the area with the gray background).
In order to open an account with OptionsHouse, you must be of legal age in the state in which you reside. In addition, you will need to provide a valid e-mail address and all of the required information in the account application. You must also agree to the terms and conditions of the account. Also, before you open your account, you should take time to read and understand the Options Clearing Corporation's (OCC) "Characteristics and Risks of Standardized Options".
Creating an account with OptionsHouse is easy. Click "Open an Account" (a green button in the upper right-hand corner of the screen). Follow the steps to create an account.
1. Provide the required information (for example, name, address, and social security number) and answer certain questions regarding your employment and investment history.
2. Select a funding method (for example, ACH, ACAT, personal check), or no funding, if you prefer to fund at a later date.
3. Verify your information online.
4. Print and sign the Account Application form.
5. Fax, mail, or FedEx® the Account Application form back to OptionsHouse. On the final confirmation page, you can print a FedEx® label directly from our website for your convenience.
When you have completed the account sign up process you will be able to log in to your new account and experience the OptionsHouse Trading Tool. However, your account will not be active until it is approved and funded.
OptionsHouse enables you to have multiple accounts linked with the same password.
There are two ways to accomplish this:
1. Click on "Open an Account" and select the choice "Login to Create a New Account" from the blue box in the upper-left corner of the page. This will link your accounts automatically, and will save you time by pre-filling any information on file from previous accounts. -or-
2. Click on "Open an Account" and fill out the on-line application. Once you are finished and have sent us your Account Application page, you can email Customer Service at customerservice@optionshouse.com to have them link accounts with the same password, as long as you are listed as an account holder on each of the accounts you wish to link.
OptionsHouse takes your privacy seriously. Please read our Privacy Policy.
While we intend to in the future, we do not currently offer this functionality. We will notify you when we support this function. You can download your Positions, Orders and Activity information to Excel.
OptionsHouse charges a flat rate of $4.95 per stock trade and $9.95 per option trade. For spread trades, each leg represents one trade. For more detail, click here to see an overview of our rates and fees.
For spread trades your commission will simply be the number of legs in the spread multiplied by the appropriate commission per leg ($4.95 for stock trades and $9.95 for options).
There are no commissions incurred for cancelling an order. As long as a modified order remains unfilled, no commissions will be charged to your account.
If an order is entered and partially filled, then subsequently modified, one ticket charge will be applied to the partial fill and another to the subsequent order. The ticket charge is applied per leg, per day. If a two-legged trade is entered, the total ticket charge is the appropriate commission per leg times two. If that order fills partially on one day and completes on another day, you will be charged the full amount for the partial on the first day and the full amount for the completion on the second day.
When you sell a stock or option, we include a fee that appears on your confirmation slip. This amount covers a transaction fee that OptionsHouse is required to pay to a regulatory agency based on the volume of securities sold. The current rate is $5.60 charged for every $1,000,000 in sales (rounded up to the next penny). This fee is listed on your official trade confirmation. (For example, you sell $100,000 worth of stock. The fee would be your trade principal for those shares [$100,000] multiplied by 0.0000056, which equals $0.56.)
FINRA also levies a Trading Activity Fee (TAF) for stock that we pass on to you. The FINRA TAF is currently 0.075 per 1,000 shares of a trade to a maximum of $3.75. (For example, you purchase 1,000 shares of stock. The fee would be the number of shares [1,000] multiplied by 0.000075 which equals $0.075.)
We also reserve the right to pass through certain other fees if we believe it is appropriate.
The OptionsHouse Trading Tool can be used on a Mac but only with Mozilla Firefox v1.5.0.4 or later. OptionsHouse is not compatible with Safari or Opera.
For optimal results, OptionHouse works best with Internet Explorer v6.0 Service Pack 2 or higher and with Mozilla Firefox v1.5.0.4 or higher.
The Minimum System Requirements to run the OptionsHouse platform are as follows:
Processor: |
1 Ghz or better |
RAM: |
512 MB |
Monitor: |
1024 x 768 monitor resolution or higher |
Operating System: |
PC: Microsoft Windows 98, XP, Microsoft Vista, or ME |
MAC: OSX with Firefox |
|
Software: |
PC: Internet Explorer version 6.0 Service Pack 2 or higher. |
PC or MAC: Mozilla Firefox version 1.5.0.4 or higher. |
If you are having trouble logging in:
1) Make sure you are using the same username you created when you opened your account.
2) Check to see that you do not have "caps lock" on (sometimes indicated by a small light on the keyboard next to or on an icon of a padlock marked with a capital "A." )
3) CHeck to ensure you have entered the correct password.
If you think you have forgotten your password, click "Forgot your password?" This will begin the process of creating a new password.
1) Fill out the form fields.
2) You will be provided the security question you selected when you created your login.
3) Provide the answer to your security question.
4) You will be prompted to enter a new password and confirm this new password (passwords are case sensitive.)
You will then be directed back to the login screen to re-enter your username and new password.
If you still have trouble logging in, please call Customer Service toll free at 1-877-653-2500.
You can trade equities, options on equities, and a broad range of mutual funds on line. We can also accept orders by phone for U.S. treasury bonds and listed corporate bonds.
No, you cannot route orders to specific exchanges. All of your electronic orders are managed by our Smart Routing system. The Smart Router is used to scan all available exchanges to attempt to find the best possible fill in the least amount of time.
The following orders must currently be placed by an OptionsHouse Representative: AON, Pink Sheet and Bulletin Board stocks, stocks that do not have options listed on them, and weekly and quarterly options. To speak to our Trade Desk, please call 1-877-653-2500.
We do not allow trades to be placed through e-mail or Live Chat. Please call 1-877-653-2500, press 1, and you will be connected to a Trade Desk Representative who will assist you.
The following is required when placing a trade with our Trade Desk: Verification of your account, whether you want to buy or sell, quantity, underlying stock symbol, month and strike, calls or puts, price (market or limit, opening or closing), and order type.
You must first have available funds or margin in your account to place an order. The OptionsHouse trading platform allows you to place trades from almost every place on the site, including your positions, prior orders, the option chain, and through some of the idea generation and risk-management tools we offer. A full description of how to place an order in these areas can be found in the Quick Start section of the Trading Tool.
To place an order simply using the Order Ticket:
1) Click on the Order Ticket tab. (The tab is located in the bottom-left corner of the Trading Tool screen.)
2) Select the type of order you would like to place: Stock, Option, Mutual Fund or Spread.
3) Fill out the Order Ticket.
4) For stock and single-option orders see steps a-e. For spread orders; go to step 5:
-
a) Click the "Preview" button.
b) Preview the order.
c) If it is acceptable click the "Place Order" button.
d) If you wish to revise your order, click the "Revise" button and continue with step 3 above.
e) If you wish to cancel your order, click the "Cancel" button.
5) For spread orders, fill out the Order Ticket for as many legs as you wish to trade (up to four legs). Make sure you indicate whether you want to "Buy" or "Sell" by selecting the appropriate order for each option leg listed in the Order Ticket.
-
a) Click the "Preview" button to review the order in the Order Summary at the bottom of the ticket.
b) If the order is acceptable, click the "Place Order" button.
c) If you wish to revise your order, make the changes in the Order Ticket, and continue with step 5a.
1) Click on the "Chain" Tab (at the top of the Trading Tool) to get to the chain view. (The chain view is a list of all options available for a particular symbol.) Make sure that the appropriate company is showing in the Option Chain. If not, enter the appropriate ticker symbol in the Quote Lookup box. From the Option Chain, click on the bid or ask price of the option or stock that you wish to trade.
2) A menu will appear on the screen. Select the appropriate "trading action" from the pop-up menu.
3) If you select a trading action from the chain, several of the fields will be pre-filled on the Order Ticket. Make sure these match your intentions and that the correct quantity is entered, and then verify that the price and expiration date are correct.
4) Review the Order Summary on the top left-side of the Order Ticket, to make sure your order is as you expect.
5) Click the "Preview" button.
6) Preview the order.
-
a) If it is acceptable click the "Place Order" button.
b) If you wish to revise your order, click the "Revise" button and continue with step 3 above.
c) If you wish to cancel your order, click the "Cancel" button.
If you need assistance, please call Customer Service toll free at 1-877-653-2500.
As soon as an order is placed, it is entered into your Orders window in the Account tab. A Good-'Til-Cancelled order (GTC) may be filled immediately or may take several days or longer to fill, if at all. To check the status of an order:
1) Click on the "Account" tab in the top-left corner of the Trading Tool.
2) Find the Orders section of the page, at the bottom of the screen.
3) The column of the Orders section, entitled "Status" indicates the order status.
If you have any questions about your account, please contact Customer Service using Live Chat or toll free at 877-653-2500.
The bulk of our orders are placed on an exchange within seconds because we use an electronic trading platform. In some cases, such as with complicated orders, we may have to provide open call service which is slower than electronic trading.
In addition, system response and access times can vary due to numerous factors. Please read our User Agreement to make sure you understand the risks involved in electronic trading.
Quotes refresh and show the then current price every five seconds unless you choose a slower refresh rate. Certain trading information may only update if you click the refresh button in the Trading Tool.
Broker-assisted option trades are a flat fee of $9.95. Broker-assisted spread trades are $9.95 per option leg.
A "Day Trade" is a single option or security position that opens and closes during the same day. The purchase or sale of a security held overnight does not constitute a "Day Trade."
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 subject to Day Trading rules.
An account is considered a Pattern Day Trading Account if it has more than three Day Trades in five business days. Industry regulations require that pattern Day Traders must maintain a minimum of $25,000 of margin equity. Accounts that have less than $25,000 of margin equity will be issued zero Day Trading Buying Power (DTBP) on the date the call is issued. In other words, if the account ends the session with equity of less than $25,000, it will have zero day trading buying power the following day. There will be no changes to Overnight Buying Power (ONBP).
Buying power for Pattern Day Traders is limited to four (4) times their margin maintenance excess for equities and one time for options. Cross guarantees among accounts are prohibited. Day Trading Calls are incurred when an account holder exceeds his or her Day Trading Buying Power at any point during a trading session.NBP).
Whether trades you make constitute Day Trades or a series of trades classifies you as a Pattern Day Trader, these trades may impact certain aspects of your available margin and buying power.
OptionsHouse offers the following advanced price types, on stock or single-leg option orders:
- Limit on Close (LOC):
- An order that will execute at the market close if the closing price is at or better than the submitted limit price.
- Limit on Open (LOO):
- An order that will execute at the market open if the opening price is at or better than the submitted limit price.
- Market on Close (MOC):
- A market order that will execute at the market close.
- Market on Open (MOO):
- A market order that will execute at the market open.
Yes. When the AON checkbox is selected on an order ticket the order will either fill in its entirety or not at all.
The Advanced Order Ticket enables you to place parameters on an order so it can be sent to the market when the time or condition is right for you. For example, if you are unable to monitor the markets but want to place an order when a security reaches a specific price, you need only set up an Advanced Order. OptionsHouse can execute the following Advanced Order types:
- Trigger:
- A Trigger specifies certain conditions necessary for an order to be entered.
- Trailing Stop:
- A Trailing Stop order is a stop order that adjusts as the price of a security moves. The stop price is placed at a set distance above or below the current price. The stop price then adjusts in the selected direction as the price of the security moves.
A Trigger specifies certain conditions necessary for an order to be entered. OptionsHouse provides an Advanced Order ticket to enable this type of order. A Trigger can be set on a security price (Bid, Ask, or Last) or as a specific time on a specific day.
Basic Trigger - stock trigger for an option order
Assume you want to place an option order based on the price of an underlying security.
- Example:
- If XYZ trades at a price greater than $150.00, then Buy 10 XYZ June08 160 Calls @ $2.00.
- Utilization:
- You have a precondition that must be met before entry of the desired order. Additionally, you want the triggering event to be monitored via the OptionsHouse Trading Platform.
- Order Ticket:
- Enter an order to Buy 10 XYZ June08 160 Calls @ $2.00 with a Trigger on XYZ Last Price Greater Than $150.00.
A Trailing Stop order is a stop order that adjusts as the price of a security moves. The stop price is placed at a set distance above or below the current price. The stop price then adjusts in the selected direction as the price of the security moves. OptionsHouse provides an Advanced Order ticket to enable this type of order.
Basic Trailing Stop - stock
You have a Long position of +200 shares in Stock ABC, and you want to enter an order to close your position that will limit downside exposure while benefitting from any additional upside movement.
- Example:
- The current market for ABC is $20.00 - $20.03 with last trade @$20.00. If ABC stock trades at a price 10% lower than the highest price traded subsequent to order entry, then enter an order to sell 200 shares at market.
- Utilization:
- You have an established position for which you want to limit negative P/L exposure while benefiting from any additional upside movement in the stock. Additionally, you do not want to constantly reset the stop level.
- Order Ticket:
- Sell 200 ABC on a 10% Trailing Stop
There is no disseminated spread market that provides a benchmark price (such as the national best bid or offer [NBBO] for individual option series) for spread orders. Therefore, liquidity providers cannot be held to a net price on a spread order and you may not receive the NBBO on each individual leg of a spread.
Spread trades are executed as a single trade and are not legged or paired as individual trades. When trading spreads, option prices on cross-markets may be misleading because the legs of the spread cannot be executed on different exchanges to get the NBBO for each leg. Both legs of the spread must be executed on the same exchange. Spread trades are executed as a single trade and are not legged or paired as individual trades. When trading spreads, option prices on cross-markets may be misleading because the legs of the spread cannot be executed on different exchanges to get the NBBO for each leg. Both legs of the spread must be executed on the same exchange.
Spread trades are executed at the discretion of the specialists or market makers responsible for executing your orders on the exchanges. When a spread order is cancelled or filled, the specialist or market maker may be required to take manual action that may require additional reporting. Such delays in reporting fills and cancels create risks, especially in fast-moving markets. Any trade executed via the OptionsHouse spread ticket will be sent to the exchange as a spread trade and will be subject to the risks outlined above.
Yes, we do offer Portfolio Margining for qualified customers. Please see the Portfolio Margining section of the OptionsHouse website.
To open a Portfolio Margining account, you must currently have a minimum account balance of $500,000 and a complete understanding of the leverage associated with portfolio margining. It is also necessary to speak with our Institutional Sales Representative prior to opening the account. For more information, please call 1-877-653-2500.
Not currently. Please contact Customer Service at 1-877-653-2500 and ask to speak to a Portfolio Margining Representative.
"Auto trading" is a service provided by OptionsHouse in which you, as our brokerage customer, direct us to make trades in your account based on the recommendations of a newsletter published by one of our auto trading newsletter partners.
Auto trading accounts are not technically "managed." Your auto trading account will be set up to follow recommendations initiated by the newsletter (chosen by you, the customer). Investment recommendations are made by the newsletter staff. For more information about the newsletter or its staff (e.g., individuals' qualifications, experience, track record, etc.), please contact the newsletter directly.
Three easy steps:
1) Open your OptionsHouse auto trading account. You will be required to sign two additional documents related specifically to your auto trading account
2) Subscribe to the newsletter service of your choice as long as it is supported by OptionsHouse.
3) Call Customer Service at 1-877-653-2500 to establish your auto trading strategy asset allocation.
Open orders will not be visible in your OH trading platform, although all executed fills and the resulting positions will be available for viewing and tracking your results.
Yes, you may cancel the service at any time by calling our toll free line at 1-877-653-2500.
Your OptionsHouse account is completely under your control. However, if you would like to initiate your own trades, we strongly recommend that you open an additional account separate from your auto trading account to avoid confusion and possible errors.
We do not make investment recommendations or recommend specific newsletters. You should consult with your financial advisor regarding any investment questions you may have.
The minimum deposit requirements are the same as any OptionsHouse account ($1,000 for a cash account or $2,000 for a margin account). Individual newsletters may have their own recommendations regarding initial account size.
Yes, commissions are still the same in an auto trading account.
If your account does not have enough buying power for a particular trade it will not be executed.
If you do not want to make every trade that your service recommends, we suggest that you do not open an auto trading account. The user friendliness and efficiency of our trading platform will allow you to easily enter whatever orders you choose from your newsletter service.
Yes, you may transfer existing auto trading positions to your OptionsHouse account via the ACAT transfer system.
The auto trading team at OptionsHouse does its very best to provide the most accurate trading fills possible. However, the realities of the markets and electronic trading often result in different fill prices than recommended. Please refer to your Auto Trading Letter of Direction for more details.
OptionsHouse monitors a client's risk using a variety of tools. One tool that we share with our clients is the "Risk Viewer." which can be found on the trading platform on the "Tools" tab.
Using the "Market Risk" tab within the Risk Viewer, OptionsHouse evaluates "Slide Risk" on an individual symbol and total portfolio basis. Slide risk refers to the theoretical risk to a position, given a specified percentage change to the underlying symbol.
For example, if you are long a $100 stock, we would evaluate the potential profit and loss to your account based upon that stock price changing $5.00, $10.00, $20.00 and $50.00 (in either direction).
OptionsHouse classifies client accounts as either "Diversified" or "Concentrated." A Concentrated account is one that holds positions in less than six unique symbols. A Diversified account can hold either six or more unique symbols or positions in broad-based indices (or ETFs based on those indices).
- For Concentrated Portfolios:
- For portfolios with equity, equity option, narrow-based index, and narrow-based index option positions, we look at your slide risk down to -50% and slide risk on the upside to +20% as measured on the "Market Risk" tab of the "Risk Viewer" tool. A Risk Violation will occur if your account has slide risk greater than 100% of your Account Value. You may then be required to take action (such as reducing your positions or depositing funds).
- For a portfolio with broad-based index and/or broad-based index option positions (e.g. SPX, SPY, RUT, OEX, QQQQ, DIA and other similar indices), we look at your slide risk down to -50% and slide risk on the upside to +20% as measured on the "Market Risk" tab of the "Risk Viewer" tool. A Risk Violation will occur if your account has slide risk greater than 200% of your Account Value. You may then be required to take action (such as reducing your positions or depositing funds).
- For Diversified Portfolios:
- OptionsHouse will look at your overall portfolios slide risk down to -50% and slide risk on the upside to +20% as measured on the "Market Risk" tab of the "Risk Viewer" tool. A Risk Violation will occur if your account has slide risk greater than 200% of your Account Value. You may then be required to take action (such as reducing your positions or depositing funds).
Finally, a Risk Violation will occur if your account has slide risk greater than 100% of your account value on any one symbol at any slide level down to -50% and any slide risk on the upside to +20%. You may then be required to take action (such as reducing your positions or depositing funds).
