Why Trade Options with myTrack?
Paying Less Means Keeping More
There are plenty of online brokerage firms, and they will be happy to charge you as much as you would like to pay in commissions, and maybe more. But is a higher commission rate a guarantee of a better trade? If not, why pay more?
The price differences may look small. An option trade at the myTrack.com web site costs $1 per contract. You have probably seen some other firms with prices as low as 75 cents or $1.00. But look more closely. Are they charging per option contract or per option PLUS a flat fee? And is there a minimum fee? (The myTrack.com web site has no overriding minimum - buying or selling one option costs $1 in commission-though options trades placed through the myTrack software do cost more.)
How much of a difference a few bucks per trade will make obviously depends upon how often you trade. But paying less in commissions sure seems like a pretty good idea.
You're Experienced? So Are We.
If you have been trading online for a while, you may have noticed a difference between the service and support you receive from established firms versus newcomers and "dabblers." (What's a dabbler? If the firm offering you online brokerage has a big sign out front that says "Bank" or anything else that isn't "Brokerage," that firm is a dabbler.)
The original myTrack platform was developed in 1998. The firm behind it, Track Data Corporation (Nasdaq: TRAC) has been serving Wall Street institutions since 1981. We know what you're looking for.
If You Trade Options, We Have the Platform for You.
Just because a firm offers "online trading" and "options trading" doesn't mean you can trade options online. Just try executing a strategy-a spread or a straddle, for example-at most firms. They'll tell you to phone it in. Or they may tell you to try to place the separate legs of the trade as separate orders, which is even worse.
At mytrack.com, the framework for strategy trades is built in. Covered calls, protective puts, butterflies, condors-you select the options trading strategy you want from our list and the trade can be entered online.
Don't Forget the Market Data.
Data is our middle name. Seriously. Track Data Corporation, remember? We have been supplying institutional market data for over 25 years and we are making much of that data available to individual investors through the mytrack platform. Some of the data is extra, especially foreign exchanges and premium news feeds. But some data and tools are free for brokerage account holders. One example is OpTrack, a tool you can use to scan the options markets for trading opportunities. The institutional version is $900 per month, but the consumer version is included in mytrack.com for no extra money. Check it out.