I am sure most are aware that Tom Sosnoff (founder of Thinkorswim) has announced a new brokerage firm "TastyWorks."
I wonder what people think. Personally I think it is great news. So many of the small options brokers have been taken over in the past few years that competition is way down. Secondly, Sosnoff always brings something great to the table. My bet, Tastyworks turns out to be something special. Thinkorswim (under sosnoff) was certainly a paradigm shift, I wonder if he can do it again.
I think TastyWorks is kicking off Jan 3, 2017.
I'd love to ehar what Jim and Tom N think!
Sure did - super exciting news! I had an email on that last night and watched Tom's announcement today on tastytrade. I really love their show, which drew me into income investing in general, and loving TOS too. I actually like their dough platform in a lot of ways, it just doesn't have nearly enough of the analytics I wanted.
They made clear they will be releasing a new trading platform in January. At first it will likely be some kind of love child of TOS and Dough, and get a lot more development effort and new features over time. The announcement made clear that the platform functionality will first and foremost support the types of things they cover in the show. In my mind, something with the speed and flexibility of TOS, ability to use thinkorswim scripts, the user friendliness of Dough, the pricing of IB, and the best features of OptionVue, would be killer That's a pipe dream, but I can hope!
One feature they hinted at, and I hope they do well, is the ability to do some serious back-testing on options strategies, to give retail investors the ability to do the kind of research they routinely do for their show. That won't necessarily help the kind of trades popular here which have non-mechanical subjective adjustments, but it would still be a great capability I don't see elsewhere. Others thoughts on tastytrade / tastyworks?