Hope that multi-leg option trade can be supported in US options market
This request is on behalf of all the options traders in Moo Moo's option trading chat. This had been an ongoing request since 2021 so hope that in 2023 we are able to finally do multi-leg options trade in the US market (see image below). In the Hong Kong options market, we are able to do multi-leg options trade such as vertical spread, iron condor and so on easily in a single trade. However, this capability is not available in the US options market. Hope the feature can be ported over.
This will help to reduce the transaction cost a lot, because there is a minimum fee of USD3 per transaction. If we are doing a spread now in Moo Moo that is a minimum fee of USD6 already as we have to do 2 transactions, an iron condor will be USD12 as we have to do 4 transaction. Doing a multi-leg option trade would reduce the fee by 50% for a spread and 75% for an iron condor.
On top of that, that makes the UX for doing options a lot smoother as we can easily create combos, we know the debit and credit immediately, and also have a guarantee that all legs will be filled.
Another request is that since there is margin reduction support for diagonal and calendar spread, hope that we can do multi-leg options trade on those kind of spread too as a single trade ![]()
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Thanks in advance
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Moomoo Lily : Dear mooer, The advice has been forwarded to the related team and they are working on it. Thank you for your understanding and support！Merry Christmas！
doctorpot1OP Moomoo Lily: Merry Christmas and a Happy New Year to you
KiddTM : And hope that Option Trading are made commission free and platform fee waived !!
Otherwise it’s too expensive currently costing in excess of USD 3 per contract
KiddTM Moomoo Lily: And hope that Option Trading are made commission free and platform fee waived !!
Otherwise it’s too expensive currently costing in excess of USD 3 per contract
KiddTM Moomoo Lily: WeBull is giving it for free and many of my friends have moved to WeBull . Including after the recent back news from last week and crash of FUTU shares - people are worried
RobbyRay69 KiddTM: $Amazon (AMZN.US)$
Moomoo Buddy KiddTM: Dear valued customer, Futu noted that the China Securities Regulatory Commission (the “CSRC”) posted an announcement on December 30, 2022 relating to the Company’s cross-border operations in mainland China. Futu will fully cooperate with the CSRC and take all necessary measures to review its cross-border operations in mainland China and to comply with all applicable rules and regulations.
The Company will proactively seek guidance from and cooperate with the CSRC in connection with its efforts to ensure legal compliance of its business activities in mainland China. In the meantime, the Company will continue to provide high-quality services to existing clients in China and further strengthen and expand its international operations.
As for the options trading commissions and platform fees, thank you for using moomoo. Platform fees are charged to enable Moomoo Financial Singapore Pte. Ltd. to continue investing in better technologies to improve our platform to serve our users better. Hope you can understand it and have a nice day ahead!
doctorpot1OP : Moo moo making multi leg options available soon.. now in beta phase, sign up now to gain early access
To the Moo :Multi-leg Options Strategies now available on moomoo — more strategies,more flexible tra...
https://www.moomoo.com/community/feed/109641668757061?data_ticket=5b3500b278c1b7aa4a176e85285988a1&content_type=feeddetail
102538317 novice : How to key in 4 legs (Iron Condor) at momo platform. to save fees ? (or) must fill in 4 separate orders for 4 x fees, which eating my small premium ? kindly enlighten me, as newbie to try on?
doctorpot1OP 102538317 novice: for now, have to do 4 separate options and pay 4x fees. but for HK option can do it as 1 trade as shown in my post. US citizen they can try the multi leg option strategy now already when you can easily setup iron condor in 1 trade.
for the rest we need to wait, should be released to us in 2023