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June 18, 2005
Interview w/ Tom Sosnoff at Real World Trading
In the past, I've written about options broker ThinkOrSwim, and their options advisory RedOption; both offer quite innovative services at reasonable prices! A recent interview with Tom Sosnoff, conducted by Dave Goodboy of Real World Trading, explains how he co-founded TOS and where he thinks the options market is headed. I recommend reading the interview in its entirety, but for those of you with short attention spans, here's some excerpts:
TOS was the first firm to introduce single click trading functionality for complex spreads, with access to six different equity option marketplaces.
TOS is a dynamic front end trading platform, Option Planet is an educational service that offers free seminars, Red Option is a very low cost option advisory, and Liquid is an institutional (more complex) trading platform.
Expect consolidation among exchanges: AMEX and PHLX may merge or be acquired. The Pacific Exchange is going to be hard to judge because of its relationship with Archipelago. CBOE and ISE are the two main players.
The BOX is very interesting because they have introduced price improvements - it's basically pennying the marketplace.
In the world of super low 11.5% volatility, there is a good side to things. True, you can't make as much, but you also can't lose as much.
Eventually, I want to become the house - I am not a premium buyer, I like to sell premium with a defined risk and I don’t care what current volatility is.
Posted by galatime at June 18, 2005 07:52 AM
