Your Questions About Paper Trading Options

Nancy asks…

Where to find the best options trading information?

I need to write a paper for a course at school. The topic I chose is Options trading. The prof told me he knows a lot about options, and that he wants to see a, for example, report on a Theory of Options Trading. What are some good books, sites, anything that I can read/study so I may write a great paper?

I want to spin the paper towards this direction- How to profit from buying and selling Call and Put contract… By using delta, moneyness, etc.. Please advise/help. I appreciate it! TIM

John answers:

If it’s for school try “Financial Engineering – Derivatives and Risk Management” – Dirk Nitzsche
and: “Option Market Making” – Allen Jan Baird
and thousand of other books.

Steven asks…

Since when has the “average Joe”, not institutions or professional tader, been able to trade options?

For example, since what date/from what broker (online) has the average Joe been able to trade options. For hedging and speculation… Sources please, it’s for a research paper. Thanks!

John answers:

Sine 1920’s
These were called convential options, the strike price was set at time of purchase along with the expiration date.

You can contact SIAC or the New York Institute of Finance for more particulars

Susan asks…

Looking for a good futures platform to paper trade on.?

I was looking for a good futures trading platform to trade on that doesnt expire after just a couple weeks, but more like a couple months because I want to mess around with some options strategies.

John answers:

Try either ThinkOrSwim who have a very good Java platform (not web based) or Interactive Brokers also Java but a little harder to work. To get live prices to paper trade you will need to fund the account.

Betty asks…

Where can I open an Options demo account, to play around with, and simulate real trades online?

I just want to do some practical training/paper trade, until I’m ready to go live with a real Options account.
any ideas?

John answers:

The Chicago Board Options Exchange (CBOE.com) has a “Virtual Trade Tool” – “designed to let you test your trading knowledge and market savvy without putting any money on the line. ”
http://www.cboe.com/tradtool/virtualtrade.aspx

I also agree with the first answer – some online brokerage firms also have “simulated trading”. “YadaYada” mentioned OptionsExpress ( http://www.optionsxpress.com/ ) – there is also ThinkOrSwim ( http://www.thinkorswim.com/ ) with a “paper trading application” ( http://www.thinkorswim.com/tos/displayPage.tos?webpage=paperMoney ).

The advantage of using a simulation account with an online brokerage is that the paper-trading software probably looks like the real-trading software for that brokerage, and you can determine whether you like their software or not – and ease-of-use can be just as important as low commissions!

Mary asks…

what is the best paper to use for printing trading cards? And what print option would you suggest?

John answers:

IDK but im pretty sure that is against the law i wouldn’t if i were u

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