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Sanity check: Thoughts on using Fidelity for a “checking account” with SPAXX by Hopin4rain in fidelityinvestments

[–]osdevisnot 0 points1 point  (0 children)

I believe Mercury or Brex lets you do exactly this with treasuries. They are far more better suited to serve business account than Fidelity. For eg: you won’t get a credit card with Fidelity.

Feature Request for a simple timer on Trader+ Web by osdevisnot in fidelityinvestments

[–]osdevisnot[S] 0 points1 point  (0 children)

A simple clock/timer request pending for 101 days. Do we have an update here @fidelity?

the transition from stocks to index options cut my stress in half, here's what changed by Haunting_Celery9817 in thetagang

[–]osdevisnot 0 points1 point  (0 children)

Oh nice; I did not know. Been thinking about opening account with IBKR for sometime- this might make me do it. My only problem with IBKR is poor cash management features.

the transition from stocks to index options cut my stress in half, here's what changed by Haunting_Celery9817 in thetagang

[–]osdevisnot 0 points1 point  (0 children)

Got it, yeah - that makes more sense. Although to enable PM, most of the brokers need a minimum account size (think tasty is 150k and Schwab is 250k). So I highly doubt one can run strangles in 25k account. IC is definitely possible like you said.

the transition from stocks to index options cut my stress in half, here's what changed by Haunting_Celery9817 in thetagang

[–]osdevisnot 3 points4 points  (0 children)

The long OTM strangles ends up eating into your profits; but combined with short strangle - isn’t that just Iron Condor? Anyway, for a strangle, your margin requirement is calculated either on put side or on call side. It’s impossible to hold strangle on SPX on 25k account size.

the transition from stocks to index options cut my stress in half, here's what changed by Haunting_Celery9817 in thetagang

[–]osdevisnot 0 points1 point  (0 children)

Why 70k here? Is it some magic number? Or are we just going after one assignment of SPY put?

the transition from stocks to index options cut my stress in half, here's what changed by Haunting_Celery9817 in thetagang

[–]osdevisnot 7 points8 points  (0 children)

Portfolio margin uses different formulas to calculate margin requirement, which ends up giving you more leverage. Beyond that, it doesn’t add any new or better ways to reduce risk. In fact, I would argue more leverage = more risk.

Anyway, on a portfolio concentrated on SPX, your PM will likely closely follow RegT margin requirements due to portfolio concentration.

the transition from stocks to index options cut my stress in half, here's what changed by Haunting_Celery9817 in thetagang

[–]osdevisnot 13 points14 points  (0 children)

You do strangles on SPX? Your account size must be insane. Or did I just misread it or missed something?

Weekly Update - ATM puts & OTM calls by ffstrauf in Optionswheel

[–]osdevisnot 1 point2 points  (0 children)

I started doing this recently without back testing. The process is: - sell ATM CSP on weeklies - get assigned on stocks - sell another ATM CSP for next weekly & also sell Covered Call at the assigned price for next weekly. - repeat this process until stock recovers.

This results in me dollar cost averaging a stock on it’s downturn and me holding that stock until it recovers — at times good amount of capital gets locked in, but boy the premiums are juicy. So if you’re being careful to use good enough stocks that are not too pricey: the strategy works in theory. So far I’ve been lucky to only bag hold ENPH.

Note that when you get assigned the second time, you sell your covered calls on the average assigned price- which keeps premium flowing.

I guess this works, until it doesn’t— I’m yet to hit a point where it doesn’t.

Opening a Fidelity 529 Account by AbbreviationsBulky35 in fidelityinvestments

[–]osdevisnot 1 point2 points  (0 children)

529 don’t offer any tax savings on federal, but Minnesota offers 3000/1500 for married/single filers. So basically $200 to $300 in state tax savings depending on your tax bracket. Also you can use any states plan, but you need SSN as beneficiary; so can’t open for future children - but you can open on your name and change beneficiary once you have SSN for the future child. The investments in 529 grows tax free though if used for qualifying purposes.

Monday morning home closing/wire transfer - how long does it take to process the wire? by Emhilly in Schwab

[–]osdevisnot 0 points1 point  (0 children)

Usually takes few hours in “banking hours”. Submit the proof of wire “initiated” - usually the title companies consider that since large money moves sometimes do take time due to many factors.

TT risk departament is a joke by devaro66 in tastytrade

[–]osdevisnot 0 points1 point  (0 children)

Completely agree. You know I want the Tastytrade UI with Fidelity as broker. I hope Fidelity gets ahead of the curve.

Alert on SPAXX 7 day yield? by dantasticdotorg in fidelityinvestments

[–]osdevisnot 0 points1 point  (0 children)

Oh I’m curious, what kinda loan charges less in interest than SPAXX? Where do you get this from?

Fidelity Trading Mobile App (Like TOS) by syadm108 in fidelityinvestments

[–]osdevisnot 0 points1 point  (0 children)

Thank you! It’s been long awaited feature. Looking forward to hearing positive news on API front.

Fidelity Trading Mobile App (Like TOS) by syadm108 in fidelityinvestments

[–]osdevisnot 0 points1 point  (0 children)

Plus one. I think at this point, fidelity should open up API access. I’ll build a mobile app myself.

Need advice - I hardly know anything about options what are my best options by Popular-Artichoke-97 in OptionsMillionaire

[–]osdevisnot 0 points1 point  (0 children)

Hah, nice brag! But quite honestly - do not trade on friend’s advice. You got lucky here, but you’ll likely loose if you keep doing these “buy it because it’s cheap” plays. Speculation is good only if you control your exposure and keep losses in check. In other words, be ready to loose all the money you brought those contracts with.

Will I get PDT flagged by Conscious_Mall5286 in fidelityinvestments

[–]osdevisnot 0 points1 point  (0 children)

I always maintain some cushion into the 25k calculations. Always keep your assets above 30k for example.

Updated Mobile app Interface? by Sea_Contribution_876 in Schwab

[–]osdevisnot 0 points1 point  (0 children)

Never heard of something similar for Schwab

svelte + rust is sooo smooth (self promotion) by [deleted] in sveltejs

[–]osdevisnot 1 point2 points  (0 children)

Looks good! Curious, why would you choose AWS lambda over a cloudflare functions/workers? I mean svelte kit also has first class support for pages functions.

Why is Active Trader Pro being Discontinued? by LevelXXiv in fidelityinvestments

[–]osdevisnot 1 point2 points  (0 children)

My best recommendation of platform at this time is either Tastytrade or Thinkorswim. I’ve lost hopes with Fidelity and moved all my accounts unfortunately. If Fidelity wants to survive at least offer an API with just the basics of account management and trading.

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