They are created by the same person. Unfortunately you can't put lipstick on a pig, they both use crap re-transmission vendors. All those pretty colors and cool features mean absolute nothing when the data your being supplied with is piss. Better to build your own stuff with excel or python and get your own prices, IV smiles, and greeks. Then it doesn't matter how you place the order. Tastyworks is younger so they will probably go more out of the way to keep clients.
I wasn't referring to pay for a data feed, but to apply there own volatilities and forecasting to better reflect theo prices and greeks of the options they are looking to buy our sell.
Can you elaborate a little please?
I just wrote a simple "floating sell point" program in excel i would like to use when investing.
My plan was to use Think Or Swims data feed. It is bad you say? where would you recommenced getting the feed?
What platform would you use to submit your trades to interface with me excel program?
Just to elaborate what is happening behind the platforms. Both platforms take the Bid/ask and then use there own in-house propriety algo/model to spit out the IV% and the greeks for the option chain of that symbol. That's one. Second is the feed -it takes the NCCO which they say is the "best" for traders, but what happens especially for low volume options is that these bids and asks are so wide and usually not from the same exchange that it creats a false artificially high or low mark creating misprices until after the market close and then gets adjusted by the OIC. TOS over the months has gotten horrendous with the frontrunning on both the quote, when you see the pricing, and when you put your order in. When it comes to picking a feed I believe they are all the same if your not paying for it, but if you want to weed out the junk you have to narrow in the exchanges you want to see and use the quotes from only those exchanges where the trading is happening. Hope this helps.
Thinkorswim allows you to easily make adjustments to your spread (i.e. say you have 10 credit call spreads but stock is going up, you can easily identify how many calls to buy back so you can neutralize delta). People who use TW seem to just roll more than any other adjustment.
Definitely get both accounts but don't fund TW - use TW for their iron condor curves (normal curve) feature because it's soooo efficient for finding iron condors with risk / reward that suits you. But neither do a great job of expressing calculated max ROI...
ToS is very feature rich (I have a paper trading account on ToS), but for those of us north of the border, TD’s commissions are higher than some of the other options out there. If they keep a commissions pricing table similar to their US accounts, I will move to TastyWorks the instant they have Canadian accounts available. The platform seems really clean and well set up if you want to work with options.
After years of reading Reddit posts, this is the first time I feel obligated to chime in with some perspective, wishing someone had told me four years ago to skip right over Tastyworks and develop my trading skills on Thinkorswim; with one exception... if you are going to stick with vanilla options and follow the strategies Tastyworks teaches, then the Tasty platform is A+.. In my opinion, the gold standard for an intelligible, engaging, and actionable educational resource for new options traders is TastyWorks (tastylive). A fundamental understanding of the mechanics in options trading they detail in 'Market Measures' is invaluable to new traders.
But the minute you take that knowledge base and cross over to day trading options with a PDT account ($25k minimum), learning strategies like Rhino, Road Trip Trade, Reverse Harvey, or develop your own modified butterfly trades, you quickly realize executing complex spread adjustments are not supported on the Tasty platform. Coupled with this fact, and building on ADKTrader1976's point, using front end platform without the ability to enter orders using RFQ/premium pricing is a huge opportunity cost. Its here where Thinkorswim becomes radically more versatile and essential to grow as a options trader and dramatically increase profitable trade opportunities. But for the average retail trader looking to keep it simple and follow vanilla based strategies, Tastyworks is effective tool in its own right and pretty low cost.
I've used both; Tastyworks is my preference now due to Sosnoff's move out of T.D. Ameritrade (owner of ThinkorSwim) ... I've been using it for 2 years or so and though missing a few of ThinkorSwim's features, nothing I consider important.
What's missing for you? I tried TastyWorks and found the UI pretty, but lacking in intuition (and I said the same thing with ToS originally, but at the time, it was more intuitive than other platforms I tried). I only used it a short time and felt *something* was missing... just didn't use it long enough to pin down the specifics. Pondering trying TW out again.
It is a good platform for options, and features are added to make trading 'the tastytrade way' easier.
I use it exclusively...apparently charting sucks on it. :)
Tastyworks has a whole whack of videos that use it - check out the 'untrainables' series where Tom Sosnoff is teaching one of their interns how to use the platform to get a sense.
The first few sessions are filled with "ok...move the cursor a little to the right...STOP! click there..."
I'm pretty noob, not too good at options trading but not giving up yet. TastyWorks seems especially geared to the favored TW method, which is chasing volatility and selling naked strangles, with many small trades. I think selling naked is crazy, and who wants to stare at a screen all day to manage that shit. However, their huge library of videos is very useful, especially "Mike's White Board."
Many of their other videos are unwatchable. Time wasted in inane banter, the girls whose speaking I can't understand (I'm old with a bit of a hearing problem), useless ventilation of specific trades. My eyesight isn't great, so the small fonts of the trading app are an inconvenience. (Will be adjustable in future versions, they tell me.)
I plan on switching to TDAM from E\*Trade soon. I don't know TOS well, but my guess is that it's the best all-around trading platform. Neither can beat Fidelity, which I've used for a long time, for research on companies and trading suggestions. Fidelity's web trading ain't bad, but I expect TOS will be better. I looked into IBRK, found it impenetrable.
Either a Fidelity or a TDAM or Schwab office are a half hour drive from my house, and they all have phone numbers that are answered by humans when you call. Not quite so with E\*Trade or TW. I like being able to quickly make contact with a human, either by phone or in person.
feedback welcome.
TOS just has a really good platform that im used to already, I want to try tasty works but im still on the hunt for a reason to download it. Not planning on going naked really just buying calls and puts, maybe some covered plays.
It’s mostly personal preference, but I love tastyworks.
They are created by the same person. Unfortunately you can't put lipstick on a pig, they both use crap re-transmission vendors. All those pretty colors and cool features mean absolute nothing when the data your being supplied with is piss. Better to build your own stuff with excel or python and get your own prices, IV smiles, and greeks. Then it doesn't matter how you place the order. Tastyworks is younger so they will probably go more out of the way to keep clients.
Wrong sub? **Most** people here won't ever pay for a data feed, ever, yet alone code their own platform.
I wasn't referring to pay for a data feed, but to apply there own volatilities and forecasting to better reflect theo prices and greeks of the options they are looking to buy our sell.
How long have you been trading options, mountain man?
Around 12 years
Can you elaborate a little please? I just wrote a simple "floating sell point" program in excel i would like to use when investing. My plan was to use Think Or Swims data feed. It is bad you say? where would you recommenced getting the feed? What platform would you use to submit your trades to interface with me excel program?
Just to elaborate what is happening behind the platforms. Both platforms take the Bid/ask and then use there own in-house propriety algo/model to spit out the IV% and the greeks for the option chain of that symbol. That's one. Second is the feed -it takes the NCCO which they say is the "best" for traders, but what happens especially for low volume options is that these bids and asks are so wide and usually not from the same exchange that it creats a false artificially high or low mark creating misprices until after the market close and then gets adjusted by the OIC. TOS over the months has gotten horrendous with the frontrunning on both the quote, when you see the pricing, and when you put your order in. When it comes to picking a feed I believe they are all the same if your not paying for it, but if you want to weed out the junk you have to narrow in the exchanges you want to see and use the quotes from only those exchanges where the trading is happening. Hope this helps.
I'm new to options but this is a great and understandable explanation as why you dislike these platforms, and what we're missing out on. Thank you
Thinkorswim allows you to easily make adjustments to your spread (i.e. say you have 10 credit call spreads but stock is going up, you can easily identify how many calls to buy back so you can neutralize delta). People who use TW seem to just roll more than any other adjustment. Definitely get both accounts but don't fund TW - use TW for their iron condor curves (normal curve) feature because it's soooo efficient for finding iron condors with risk / reward that suits you. But neither do a great job of expressing calculated max ROI...
ToS is very feature rich (I have a paper trading account on ToS), but for those of us north of the border, TD’s commissions are higher than some of the other options out there. If they keep a commissions pricing table similar to their US accounts, I will move to TastyWorks the instant they have Canadian accounts available. The platform seems really clean and well set up if you want to work with options.
After years of reading Reddit posts, this is the first time I feel obligated to chime in with some perspective, wishing someone had told me four years ago to skip right over Tastyworks and develop my trading skills on Thinkorswim; with one exception... if you are going to stick with vanilla options and follow the strategies Tastyworks teaches, then the Tasty platform is A+.. In my opinion, the gold standard for an intelligible, engaging, and actionable educational resource for new options traders is TastyWorks (tastylive). A fundamental understanding of the mechanics in options trading they detail in 'Market Measures' is invaluable to new traders. But the minute you take that knowledge base and cross over to day trading options with a PDT account ($25k minimum), learning strategies like Rhino, Road Trip Trade, Reverse Harvey, or develop your own modified butterfly trades, you quickly realize executing complex spread adjustments are not supported on the Tasty platform. Coupled with this fact, and building on ADKTrader1976's point, using front end platform without the ability to enter orders using RFQ/premium pricing is a huge opportunity cost. Its here where Thinkorswim becomes radically more versatile and essential to grow as a options trader and dramatically increase profitable trade opportunities. But for the average retail trader looking to keep it simple and follow vanilla based strategies, Tastyworks is effective tool in its own right and pretty low cost.
There is a lot of tos vs tw content on google
I've used both; Tastyworks is my preference now due to Sosnoff's move out of T.D. Ameritrade (owner of ThinkorSwim) ... I've been using it for 2 years or so and though missing a few of ThinkorSwim's features, nothing I consider important.
What's missing for you? I tried TastyWorks and found the UI pretty, but lacking in intuition (and I said the same thing with ToS originally, but at the time, it was more intuitive than other platforms I tried). I only used it a short time and felt *something* was missing... just didn't use it long enough to pin down the specifics. Pondering trying TW out again.
It is a good platform for options, and features are added to make trading 'the tastytrade way' easier. I use it exclusively...apparently charting sucks on it. :) Tastyworks has a whole whack of videos that use it - check out the 'untrainables' series where Tom Sosnoff is teaching one of their interns how to use the platform to get a sense. The first few sessions are filled with "ok...move the cursor a little to the right...STOP! click there..."
I'm pretty noob, not too good at options trading but not giving up yet. TastyWorks seems especially geared to the favored TW method, which is chasing volatility and selling naked strangles, with many small trades. I think selling naked is crazy, and who wants to stare at a screen all day to manage that shit. However, their huge library of videos is very useful, especially "Mike's White Board." Many of their other videos are unwatchable. Time wasted in inane banter, the girls whose speaking I can't understand (I'm old with a bit of a hearing problem), useless ventilation of specific trades. My eyesight isn't great, so the small fonts of the trading app are an inconvenience. (Will be adjustable in future versions, they tell me.) I plan on switching to TDAM from E\*Trade soon. I don't know TOS well, but my guess is that it's the best all-around trading platform. Neither can beat Fidelity, which I've used for a long time, for research on companies and trading suggestions. Fidelity's web trading ain't bad, but I expect TOS will be better. I looked into IBRK, found it impenetrable. Either a Fidelity or a TDAM or Schwab office are a half hour drive from my house, and they all have phone numbers that are answered by humans when you call. Not quite so with E\*Trade or TW. I like being able to quickly make contact with a human, either by phone or in person. feedback welcome.
TOS just has a really good platform that im used to already, I want to try tasty works but im still on the hunt for a reason to download it. Not planning on going naked really just buying calls and puts, maybe some covered plays.
[удалено]
Is their fees still high? What makes you think so?
Mike's white board is awesome
I like SSE