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Old 05-10-2024, 04:06 PM
 
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I know two brokers so far: IB (almost 24 hours), Fidelity (pre market 7-9:15 am EST).

Any other brokers?
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Old 05-10-2024, 07:14 PM
 
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Do you really need more trading hours than the open market?
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Old 05-10-2024, 07:20 PM
 
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Quote:
Originally Posted by Lowexpectations View Post
Do you really need more trading hours than the open market?
Definitely want to trade around 8:30 am EST, when major U.S. Economic Reports come out.
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Old 05-10-2024, 09:15 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,783 posts, read 58,251,797 times
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Quote:
Originally Posted by Lowexpectations View Post
Do you really need more trading hours than the open market?

Really?

Only trading during USA market hours

Enter ... Global Economy circa 1980 - pre 1990.

Al Gore invented it IIRC
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Old 05-11-2024, 02:35 AM
 
Location: North Texas
3,525 posts, read 2,685,199 times
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Quote:
Originally Posted by Baike View Post
Definitely want to trade around 8:30 am EST, when major U.S. Economic Reports come out.
IMO you don't need to trade before opening, you can make the same trade at opening.

I look at pre-trading akin to the children's hour, showing much irrational exuberance.

For instance, about one week ago AAPL announced its earnings and the market opened with

a stock price of about $188 allowing me to sell at $186.35 for an almost 10% return in less than a week.
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Old 05-11-2024, 11:50 AM
 
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Not sure why you would want to trade options pre-market. Volumes would be extremely thin. For trading options you usually want high volume and liquidity. Low volume options usually have massive bid / ask spreads and are harder to exit your position.
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Old 05-11-2024, 11:55 AM
 
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Quote:
Originally Posted by SoundAdvice4U View Post
Not sure why you would want to trade options pre-market. Volumes would be extremely thin. For trading options you usually want high volume and liquidity. Low volume options usually have massive bid / ask spreads and are harder to exit your position.
8:30 am EST (when major U.S. Economic Reports come out) is important time point for me, I don't really care volume, I just use limit price order. Future could change a lot at 8:30 am.
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Old 05-11-2024, 12:06 PM
 
613 posts, read 293,419 times
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Quote:
Originally Posted by Baike View Post
8:30 am EST (when major U.S. Economic Reports come out) is important time point for me, I don't really care volume, I just use limit price order. Future could change a lot at 8:30 am.

Yes, but you have to be positioned in advance of the news event in order to profit from it 99% of the time. Buying options after the 8:30 AM news is announced is rarely a profitable strategy. Usually the options value spikes in implied volatility right away then fades gradually. The winners are the option writers (sellers) who are the opposing party on the transaction. Even if you get a pop on the S&P or whatever underlying stock, the options can decline quickly in value. Alternatively, why not just buy the options the day before? If you know an 8:30 AM news event will occur and you want to profit?
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Old 05-11-2024, 12:12 PM
 
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Quote:
Originally Posted by SoundAdvice4U View Post
the options can decline quickly in value. Alternatively, why not just buy the options the day before? If you know an 8:30 AM news event will occur
You have answered the question for me. There is value declined overnight. There is always time decay, and I don't want to lose money while I am sleeping.

I care about the news event, but don't want to get in too early.

Last edited by Baike; 05-11-2024 at 12:21 PM..
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Old Yesterday, 04:39 AM
 
106,995 posts, read 109,264,794 times
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Quote:
Originally Posted by SoundAdvice4U View Post
Not sure why you would want to trade options pre-market. Volumes would be extremely thin. For trading options you usually want high volume and liquidity. Low volume options usually have massive bid / ask spreads and are harder to exit your position.
i agree , i never trade pre market .

prices are so out of whack many times pre the actual opening because of thin trading . also bids and asks can be extreme.

it’s almost as bad as trading on those weekend stock trading sites like ig weekend wall street
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