I currently hold all of my equities in an E*TRADE account but I would like to open a new options-trading- enabled account elsewhere. Any recommendations on brokerages and where to begin learning the dynamics of options trading?
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Olympia's avatar
@olympiaNovember 4
I generally use Robinhood for my speculative options trades and TD Ameritrade for covered calls and cash-secured puts

Some resources for you, Natenburg is the classic first book that everyone on a Wall Street equity derivatives desk reads :)


  • Options, Futures, & Other Derivatives- John Hull


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Jay Schlesinger's avatar
@jaysNovember 4
Author
@olympia ty so much for the recommendations I will definitely read up
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ParrotStock's avatar
I use TD for most of my trading, and have a small Robinhood account that I "play" in... basically try new techniques/strategies before moving over to the main account.
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Jay Schlesinger's avatar
@jaysNovember 4
Author
@parrot love it - I’ll probably log onto Robin Hood first because this is really some beginner “playing” I’m going to be doing but seems TD is well liked
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ParrotStock's avatar
The AI is really simple and easy to understand also. I went from Robinhood, to a paper money account on TD to make sure I understood the software, to trading in my main TD account (the one linked to CommonStock) Happy to help if you have any questions. Join my message group if you arent already, you'll get all my trades in real time (link in bio)
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Chip Lunderburg's avatar
Robinhood if you prefer the simplified UI (it's actually pretty nice). TD Ameritrade for more intricate options and info.
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Don Irwin's avatar
I use Schwab - their desktop app, StreetSmart Edge is excellent, private Cisco VPN tunnel into their systems. Still waiting to see what they do with ThinkOrSwim.
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Jay Schlesinger's avatar
@jaysNovember 4
Author
@viperguynaz thank you so much! never used the desktop app, only the browser so definitely will look into it today
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Joshua Simka's avatar
Hey @jays! Depending on what you want to do in that options account, it can be difficult to get sufficient permissions approved on a freshly opened account—regardless of how much money you put in there. This summer, I found that Ally readily granted me the highest level of trading permissions with a $25k deposit whereas Merrill wouldn't do it with less than $100k and Fidelity—an account I've had for years—wanted me to add my partner and even parents (!) to the account before giving me their highest level.
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