Can’t trade SPX options after hours on Fidelity
Main Problem:
- DrahacikFM expresses frustration with Fidelity’s restrictions on SPX options trading, noting limited trading hours and specific prohibitions that hinder experienced traders.
Discussed Solutions:
- Fidelity offers trading for SPX options during pre-market hours (7:00 a.m. to 9:15 a.m. ET) and normal market hours (9:30 a.m. to 4:15 p.m. ET), but not during after-market sessions.
- Fidelity’s team acknowledged the feedback and indicated they would pass the user’s comments on to their developers for consideration.
Here’s the full thread
Is it not possible to trade SPX options from 4 pm to 5pm EDT? They are officially open and other brokers have trading.
Hey there, @DrahacikFM. Thanks for reaching out to us about trading S&P 500 Index (SPX) options with Fidelity in the extended-hours sessions.
Currently, Fidelity offers trading for SPX options during pre-market hours from 7:00 a.m. to 9:15 a.m. ET, and during normal market hours from 9:30 a.m. to 4:15 p.m. ET, but not during the after-market session.
Additionally, extended-hours trading is only available for certain options orders placed through the Directed Trading Ticket and the Multi-Leg Option Trade ticket on Active Trader Pro (ATP), and there is a 200 contact limit per order in the pre-market session. It’s important to keep in mind that each exchange defines which securities are eligible for extended-hours trading. Also note that if an options trade is placed during an extended-hours session, the order is only good for that session.
Learn more about extended-hours trading here: https://www.fidelity.com/viewpoints/active-investor/extended-hours-trading
Please let us know if you have more questions for us. We appreciate you engaging in our community!
Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read the Characteristics and Risks of Standardized Options (http://www.optionsclearing.com/about/publications/character-risks.jsp). Supporting documentation for any claims, if applicable, will be furnished upon request. 🟢
Thank you for the reply. It’s a shame Fidelity has so many restrictions on options trading that other brokers don’t! One of the main advantages of SPX options is that they trade 20.5 hours per day, allowing very experienced options traders like me to manage risk almost around the clock. Fidelity allows SPX trading less than 9 hours per day!
Other severe restrictions Fidelity puts in place, that other brokers don’t, is they will not allow opening trades in options on expiration day. I cannot even write a covered call on one of my stock positions on a Friday expiration day. That entails zero risk and there is no reason not to allow it.
Another Fidelity restriction is that stop-limit orders on options MUST have the same price for the stop and the limit, rendering those orders totally useless in most situations. The stop can just be blown through without executing. Fidelity allows different prices for the stop and limit on stocks. Why not for options, where it is needed more? Makes zero sense. A very unfriendly broker for experienced options traders.
Thank you for sharing your feedback, @DrahacikFM. I am more than happy to pass this on to our developers for you. 🟢
Yes, please do. Thanks. The last two items especially are needed for active options traders.