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Anyone trading options with ThinkorSwim Canada?

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  • Apr 28th, 2021 12:32 pm
[OP]
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Apr 21, 2004
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Anyone trading options with ThinkorSwim Canada?

Didn't know it was now open to Canadians but with a $25k min equity requirement.

https://www.td.com/ca/en/investing/dire ... inkorswim/

If I only wanted to be long calls or puts or long strangles or straddles and be able to close positions simultaneously and quickly like 50% of the time, will InteractiveBrokers or ToS be better? I don't mind paying a little more for commissions.

Thanks.
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Dec 28, 2010
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I have ToS'ing since 2018. Love the TTM Squeeze and opening & closing of straddles and iron condors, but have a hard time logging in at times and find that's a big pain in the ass. I was looking at Questrade as well but no TTM Squeeze available with QT.

VB is pretty good, ToS is smoother (if it works).
[OP]
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VESTEGAARD wrote: I have ToS'ing since 2018. Love the TTM Squeeze and opening & closing of straddles and iron condors, but have a hard time logging in at times and find that's a big pain in the ass. I was looking at Questrade as well but no TTM Squeeze available with QT.

VB is pretty good, ToS is smoother (if it works).
With RBCDI and how antiquated the platform is, I may lose on both positions in a strangle lol.

What is this TTM Squeeze?
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Sep 8, 2005
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Vancouver
alanbrenton wrote: With RBCDI and how antiquated the platform is, I may lose on both positions in a strangle lol.
If you're looking at trading more than 1 leg of an option at a time - straddles, strangles, iron condors - then the other alternative is interactive brokers who would have the lowest commissions, but their platform isn't as nice as TOS. IB can handle 4 legs (maybe even up to 8 legs, but then it gets really hard to execute the trade).
Most other platforms including the antiquated ones don't do more than 2 legs max. If you're taking a strangle and rolling to the next month in a trade, then that's already 4 legs.
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Oct 29, 2015
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Always was interested in the ToS platform as i see SO many american youtubers use it. Might open a paper account.
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[OP]
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So I opened a paper account and put in some option orders.

I guess they will remain in WORKING status and never be fulfilled (fictitiously), correct?

Update:

One order to buy GLD has filled in the sandbox.
Other two options orders still showing WAITING.

I hope the slow execution can be attributed to it being a paper account lol.
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Sep 8, 2005
388 posts
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Vancouver
alanbrenton wrote: So I opened a paper account and put in some option orders.

I guess they will remain in WORKING status and never be fulfilled (fictitiously), correct?

Update:

One order to buy GLD has filled in the sandbox.
Other two options orders still showing WAITING.

I hope the slow execution can be attributed to it being a paper account lol.
a few things...
1) what are the options are you trading? the option needs to be liquid enough to trade properly. when it's liquid, then the difference between bid and ask is much narrower and more likely to fill. GLD is a high volume ETF therefore the option is liquid and why it filled earlier than the others.

2) always use a limit order for options (which i assumed you did). Is your price set relatively in the middle between the bid and ask? if you are too far away, and the option is not liquid, then it will be harder to trade.

3) Also, the more legs you are putting on at the same time will slow down the execution.
[OP]
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Apr 21, 2004
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qubikal wrote: a few things...
1) what are the options are you trading? the option needs to be liquid enough to trade properly. when it's liquid, then the difference between bid and ask is much narrower and more likely to fill. GLD is a high volume ETF therefore the option is liquid and why it filled earlier than the others.

2) always use a limit order for options (which i assumed you did). Is your price set relatively in the middle between the bid and ask? if you are too far away, and the option is not liquid, then it will be harder to trade.

3) Also, the more legs you are putting on at the same time will slow down the execution.
-I played with GLD options
-I only used limit orders and bought at the ASK so I was assuming in real trading, it would be filled quickly.
-I put one buy order for GLD ETF, one order for a strangle on GLD (Dec 2020), and one order for a call on GLD (Dec 2020). I closed by selling at the BID too.

Are you suggesting there shouldn't be a delay in executing the orders even on a paper account? I will have to try it out so more but I can see how it so much easier to use for option trading.


How do I actually see the P/L of the option trades? When I bought GLD, P/L was shown below but not for the options.
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Sep 8, 2005
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alanbrenton wrote: -I played with GLD options
-I only used limit orders and bought at the ASK so I was assuming in real trading, it would be filled quickly.
-I put one buy order for GLD ETF, one order for a strangle on GLD (Dec 2020), and one order for a call on GLD (Dec 2020). I closed by selling at the BID too.

Are you suggesting there shouldn't be a delay in executing the orders even on a paper account? I will have to try it out so more but I can see how it so much easier to use for option trading.


How do I actually see the P/L of the option trades? When I bought GLD, P/L was shown below but not for the options.
I don't play too much with the paper trading - so i'm going to guess that the orders don't go out to all the different option markets to execute the trade, and the listed bid and ask may not be at the same exchange where the paper trade executes at? You're right, if you're buying at the ask and sellling at the bid, then it should be pretty quick. I usually make my trades at the middle between the bid and the ask and update the order by pennies either way until my trade is filled. if it's liquid enough, then usually pricing at the middle will work.

as for the P/L - there's a little arrow beside the GLD symbol that expands and show the details by each leg of the option.
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Aug 21, 2008
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alanbrenton wrote: Didn't know it was now open to Canadians but with a $25k min equity requirement.

https://www.td.com/ca/en/investing/dire ... inkorswim/

If I only wanted to be long calls or puts or long strangles or straddles and be able to close positions simultaneously and quickly like 50% of the time, will InteractiveBrokers or ToS be better? I don't mind paying a little more for commissions.

Link does not work.
Thanks.

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