Fidelity Active Trader

You are correct that there is zero volume but the price seems to be correct as far as the mid price is concerned
I am not sure how it was the day before
I don't think the volume has anything to do with the price not showing When that happens it usually says N/A
It may not be accurate if there is no volume but it would still show something

As far as Fidelity I placed the same trade as in TOS and at first it showed the midpoint as 0.00 but than I deleted one of the strikes and entered it again ( the 14 feb 3230) and than it showed 2.10 for the mid the same as TOS
Maybe there was a glitch or some intermittent problem

In any case you should be able to simulate the position in TOS regardless of the volume by entering the price for the calendar
 
status1 said:
You are correct that there is zero volume but the price seems to be correct as far as the mid price is concerned
I am not sure how it was the day before
I don't think the volume has anything to do with the price not showing When that happens it usually says N/A
It may not be accurate if there is no volume but it would still show something

As far as Fidelity I placed the same trade as in TOS and at first it showed the midpoint as 0.00 but than I deleted one of the strikes and entered it again ( the 14 feb 3230) and than it showed 2.10 for the mid the same as TOS
Maybe there was a glitch or some intermittent problem

In any case you should be able to simulate the position in TOS regardless of the volume by entering the price for the calendar
Click to expand...
 
RandyS said:
The 12 Feb strike had zero change in price. the 5 Feb short had changed. I called the Active Trader Desk and asked why I was down almost $1,000 in profit immediately after placing it and he said since there was no open interest the day before the system had to go through a cycle to show a price for the option in the strike. He told me this should be fixed this am. Well this am there was no volume and so no change in price so for two days the options for the 12 Feb strike are zero change and they are only counting the 5 Feb longs since they did change. This is rediculous. It would be easy to base the option price off the mid even when there was no trading on it. Without that having a change in price of the longs you can not see a PL or analyze graph on Fidelity. They are supposed to be reviewing this but one guy told me it is a known problem since most options have some activity. This was a trade that expires in less than 30 days. Can you imagine some of the problems with options that are 90 days out like a Road Trip? If they want to be a serious player for active option traders they need to fix problems like this.

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Fortunately, I have it analyzed in TOS so I can manage it this way.
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That's a definite problem but it's also a sign perhaps that longer DTE weekly's are not good for trading road trip trades unless you trade with TD
I see the monthly's have more volume and OI so you may be limited to that
I have been trading short term weeklies so I have not noticed the problem but to be honest I don't even use Fidelity to check my position I do it all in TOS As long as I can place the trade and take it off with the mid price shown on TOS it's good enough for me
As you said they don't show the mid price of the position so it's no use looking at it you just have to make sure you can close the position even if it shows zero for the price
 
status1 said:
That's a definite problem but it's also a sign perhaps that longer DTE weekly's are not good for trading road trip trades unless you trade with TD
I see the monthly's have more volume and OI so you may be limited to that
I have been trading short term weeklies so I have not noticed the problem but to be honest I don't even use Fidelity to check my position I do it all in TOS As long as I can place the trade and take it off with the mid price shown on TOS it's good enough for me
As you said they don't show the mid price of the position so it's no use looking at it you just have to make sure you can close the position even if it shows zero for the price
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Is your PL the same on TOS as it is in Fidelity? Mine is off by more than $600. Same trades and same prices for the calendar spreads.
 
RandyS said:
Is your PL the same on TOS as it is in Fidelity?
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That's what I was trying to say before that I don't watch the P/L at any of my other brokerages because a lot of them are not using the mid price so there is no use for me wasting my time to see if my P/L is correct since I am not going to close my position based on the bid or the ask
I look at the mid on TOS and that is what I am using to place/close my trade and to value the P/L of my position
I am just using the Analyze tab to set the price for the trade and use that as the P/L for each brokerage so I can monitor it all in one place
 
Marcas said:
You don't want your broker decide what is good for you to trade and what is not, do you?
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That was more a of a response to those who are trying to leave TOS for another brokerage to save on index fees and to garyw where he modified his tool to use the weeklies for the RTT to save on commissions
As long as you keep it at TOS you are ok but if you try to use the same weeklies at another brokerage it may have some glitches
I was not even aware that there is so little volume on the weeklies until now
 
status1 said:
That was more a of a response to those who are trying to leave TOS for another brokerage to save on index fees
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Your method can be fine if you trade 'slow' EOD trades. For me this is no go to analyze trade on one platform and execute on another. In fast markets this is recipe for nightmare. What about Schawab?

I was re-watching parts of presentation and some other material. Hope Tom will provide us link to monthly detailed presentations they do. Seems they support 4 brokers for now. ChoiceTrade seems to be the best choice. Big questions is: if Elite can deliver what I expect. So far I have questions re workflow, for example, can you keep multiple stage screens or is all client data keep in the cloud or on local machine and how to synchronize different devices.
 
status1 said:
to garyw where he modified his tool to use the weeklies for the RTT to save on commissions
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FYI: The change I made to the G-Tool was to also include the 3rd Friday weeklies. Thoughts on removing the AM expirys was abandoned, in favor of including all. The user can pick whichever they wish.
 
I understand that
I was just thinking of those who wanted to abandon TOS to save a few bucks by using the weeklies at another brokerage may have to stick to the AM expiration
To me it doesn't matter because I use short term weeklies and I track it all in tos
 
status1 said:
I understand that
I was just thinking of those who wanted to abandon TOS to save a few bucks by using the weeklies at another brokerage may have to stick to the AM expiration
To me it doesn't matter because I use short term weeklies and I track it all in tos
Click to expand...
I track my positions with my own tool, so not an issue for me, but understand that many users try to get by with the "lacking" broker tools! Interesting that some brokers only use "last trade" prices instead of B/A to evaluate positions!
 
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