
Ask HN: Options Trading Platforms and Resources - kposehn
Hey all, I&#x27;m getting further into options trading now and am looking for good resources. So far I&#x27;m doing quite well, but don&#x27;t want to get too far without the right tools and community.<p>Can anyone recommend:<p>1. The best trading platform for a smaller trader that is both cost effective and (maybe) has an API? Currently on eTrade<p>2. Good communities of like-minded people?<p>Thanks all
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ottocoder
1\. Interactive Brokers. IB's interface is not my favorite (I liked Options
House in this regard) but is exactly what I need from a pricing perspective.

My experience is likely limited compared to yours. I focused originally on
covered calls, with some occasionally speculative short-term bets. I was very
successful using Options House for about a year or so. It turned out to be
mostly dumb luck and ultimately more or less broke even. After some analysis
that wasn't too bad considering all of the commissions I had to pay. I've
since re-evaluated my strategy, resigned myself to believing that I'm likely
not going to beat the index, and only actively trade with "entertainment
levels" of money. The minimum to open an account with Interactive Brokers may
be high (or maybe not for you, depending on your situation) but just because
you need an amount to deposit doesn't mean you have expose that full amount to
whatever strategy you have planned.

Definitely check the numbers (and interface) for yourself. One "gotcha" is the
data-access fees (some are waived with activity). My time-horizon for my
current strategy is typically in the 3-6 month range so I can't offer much
advice on the IB bells and whistle - which are many (Yahoo Finance checked
once a day is sufficient for my needs). I currently only use options as
protective puts on volatility based short sells.

I hope more people respond since I'm genuinely curious as well!

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BWStearns
Regarding the platform I looked into Interactive Brokers before deciding on
eTrade. Their API setup requires running a local trading station and doesn't
seem to be terribly easy to code against. After seeing eTrade's docs I was
pretty well sold.

Quantopian has a pretty active community, but I get the impression that by and
large trading is not as open and communal a space as coding is.

