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Beta Testers – Commission free options trading app coming soon

8 points by Jellifin 10y ago

Hey guys, my team and I are working on an app for our commission free options trading brokerage firm. We are looking for some beta testers. Please sign up to our waiting list if you're interested. www.jellifin.com Cheers, Andre

dsacco 10y ago
A few questions: 1. How? 2. Will you support buying and selling, or just buying? 3. Will you support options beyond the vanilla directional ones, such as spreads, straddles, condors, etc? 4. Will you support trading on margin? 5. Will your platform provide subscriptions such as real time depth of market data for various exchanges (presumably for a monthly fee)? 6. How "real time" is your feed?
- ParameterOne 10y ago
  Technically, with options, they could just take the other side of your trade and push the risk out to make money. Wondering........
jetti 10y ago
I'm a little skeptical. I've looked into real-time data recently and have found it is quite expensive by which I mean several thousand a month with some platforms requiring a yearly fee of up to 20K. How are you planning to make money if you have those expenses and seemingly no money coming in from the options?
- ParameterOne 10y ago
  You should have a look at DTN iQ, it s the best feed ever and made by this guy https://twitter.com/nanexllc?lang=en https://twitter.com/nanexllc?lang=en. Plus have a look at Amibroker https://www.amibroker.com/ https://www.amibroker.com/ for a platform, it is the fastest I've seen, easy to use AFL language and great to program for automated trading/backtesting plus a good sized community
  - jetti 10y ago
    These are why I'm skeptical that OP's product could be free. DTN iQ charges almost $80 a month (which is truly cheap for real time data) where as amibroker charges more. The best rate I've seen for real-time data is $5/month for individual use but that was only for IEX and no other major exchanges. I just can't see how one would be able to redistribute stock data and allow the price to take no commission (as it seems like it would be the only source of income for the OP's project)
    - ParameterOne 10y ago
      For Amibroker I only meant the software and not the feed. The good thing about IEX is you dont have to worry about front running. As far as the OP's project I can only assume taking the other side of the trade because it is only for options and most people buy calls or puts instead of selling premium....which is different that a brokerage like Robinhood
      - jetti 10y ago
        There are a few good things about IEX, especially the fact that you can get their real-time feed for free. The downside is that it isn't really free as you need to have servers that IEX auditors can visit at any given time, which means you need to have a co-location at the minimum, which isn't cheap. Which brings me back to the point that I have no clue how one can offer supposed real-time data on options for free.
    - ParameterOne 10y ago
      and on the note of "real time" data, have a look at any feed an you will see that the S&P index only updates itself every 15 seconds.....and that is by design, data coming right from S&P....otherwise you have to calculate the index yourself if you want it any faster haha. And since I love this topic, this might be a handy tool for you: http://indexarb.com/ http://indexarb.com/
ParameterOne 10y ago
Does it use a consolidated feed?

8 points by Jellifin 10y ago

dsacco 10y ago

A few questions: 1. How? 2. Will you support buying and selling, or just buying? 3. Will you support options beyond the vanilla directional ones, such as spreads, straddles, condors, etc? 4. Will you support trading on margin? 5. Will your platform provide subscriptions such as real time depth of market data for various exchanges (presumably for a monthly fee)? 6. How "real time" is your feed?

ParameterOne 10y ago
Technically, with options, they could just take the other side of your trade and push the risk out to make money. Wondering........

jetti 10y ago

I'm a little skeptical. I've looked into real-time data recently and have found it is quite expensive by which I mean several thousand a month with some platforms requiring a yearly fee of up to 20K. How are you planning to make money if you have those expenses and seemingly no money coming in from the options?

ParameterOne 10y ago
You should have a look at DTN iQ, it s the best feed ever and made by this guy https://twitter.com/nanexllc?lang=en https://twitter.com/nanexllc?lang=en. Plus have a look at Amibroker https://www.amibroker.com/ https://www.amibroker.com/ for a platform, it is the fastest I've seen, easy to use AFL language and great to program for automated trading/backtesting plus a good sized community
- jetti 10y ago
  These are why I'm skeptical that OP's product could be free. DTN iQ charges almost $80 a month (which is truly cheap for real time data) where as amibroker charges more. The best rate I've seen for real-time data is $5/month for individual use but that was only for IEX and no other major exchanges. I just can't see how one would be able to redistribute stock data and allow the price to take no commission (as it seems like it would be the only source of income for the OP's project)
  - ParameterOne 10y ago
    For Amibroker I only meant the software and not the feed. The good thing about IEX is you dont have to worry about front running. As far as the OP's project I can only assume taking the other side of the trade because it is only for options and most people buy calls or puts instead of selling premium....which is different that a brokerage like Robinhood
    - jetti 10y ago
      There are a few good things about IEX, especially the fact that you can get their real-time feed for free. The downside is that it isn't really free as you need to have servers that IEX auditors can visit at any given time, which means you need to have a co-location at the minimum, which isn't cheap. Which brings me back to the point that I have no clue how one can offer supposed real-time data on options for free.
  - ParameterOne 10y ago
    and on the note of "real time" data, have a look at any feed an you will see that the S&P index only updates itself every 15 seconds.....and that is by design, data coming right from S&P....otherwise you have to calculate the index yourself if you want it any faster haha. And since I love this topic, this might be a handy tool for you: http://indexarb.com/ http://indexarb.com/

ParameterOne 10y ago

Does it use a consolidated feed?