Options Broker?

[Maver]

I'd like to buy some new crop canola put options. Can you guys that are trading canola options give me recommendations on which company to open an account with? What are their fees?
I have an Investorline account with BMO but can't trade commodity options. Viterra will do it for me but the fees are high.

[blackpowder]

What is your comfort level.
Full service or self admin.
Spreads, writing, or just put purchases.
Some try to keep you to a hedge only for your farm.
Know your intentions going in.
Some full service trawl for commissions.
Some don't focus on prairie ag.
You might get calls to spec on sugar lol.
Check out PI financial Winnipeg.

[farming101]

With PI Financial.
Hesitate to recommend after just getting out by a hair breadth from John Corzine and MF Global draining my acct.

[blackpowder]

With PI Financial.
Hesitate to recommend after just getting out by a hair breath from John Corzine and MF Global draining my acct.

Interesting, could you elaborate?
Individual agent issues?

[farming101]

MF Global went in big betting on sovereign debt. Might have been bad timing and given time it might have went their way but in the mean time it went against them and they used customer deposits to keep themselve's solvent. I think after it was all settled most got their money but what a nightmare

https://en.wikipedia.org/wiki/MF_Global https://en.wikipedia.org/wiki/MF_Global

[Maver]

What is your comfort level.
Full service or self admin.
Spreads, writing, or just put purchases.
Some try to keep you to a hedge only for your farm.
Know your intentions going in.
Some full service trawl for commissions.
Some don't focus on prairie ag.
You might get calls to spec on sugar lol.
Check out PI financial Winnipeg.

Just put purchases for now. Probably self administered. Not looking for another career, just a trade or 2 a year. What kind of fees does PI charge to purchase a put?

[Maver]

PI Financial was bought out in 2020 by gary ng with fraudulent funds? Did that get straighted out?

[burnt]

How much of a shock can you stand when you see the premium? :-/

[Maver]

Royal Bank was recommended by a friend, anyone use them?

[farming101]

Another decent shorter article:

https://sevenpillarsinstitute.org/case-studies/jon-corzine-and-mf-global/ https://sevenpillarsinstitute.org/case-studies/jon-corzine-and-mf-global/

[farming101]

I believe Mr Ng has "moved on".....

[LWeber]

Royal Bank was recommended by a friend, anyone use them?

Keith Ferley
keith.ferley@rbc.com
Commodity Futures Specialist
RBC Dominion Securities Inc.
3100 - 201 Portage Ave
Winnipeg MB
R3B 3K6
Tel 204-982-4081
1-866-820-9297
Fax 204-982-4088

I've known Keith for 29 years. Worked with him at WCE.
I get zero for recommending him.
He is about FARM risk management rather than churn n burn.