Have questions about options? Call the Derivatives Service Team
For well over a decade, Mike Bokios has provided answers and solutions for E*TRADE customers. A Chicago Board Options Exchange (CBOE) veteran of more than 20 years, and its former Director of Floor Operations, Mike came to E*TRADE to help build the Derivatives Service Team. This group takes the toughest, time-sensitive options and futures questions posed by active traders. Throughout the trading day, Mike’s team is responsible for assisting clients with questions ranging from the basics, such as the definition of an option, to more advanced topics involving early exercise and assignment, corporate actions, multi-legged strategies, and option expiration.
What kind of experience does your team bring?
We’re a very diverse bunch. Our experience ranges from former market makers, hedge fund managers, trading floor officials, branch representatives, high-net-worth client relationship managers, and even the occasional market technician. This level of diversity is important given today’s sophisticated active traders. We need to support our customers in a way that complements their level of sophistication, so that no matter the type of customer question, we have someone on our team who can provide the answer.
What are some of the key things that your team does for E*TRADE?
Our job is to support our active trader customers and to keep them informed. My team also helps customers with stock trades, option level upgrades, and portfolio margin accounts. Additionally, you may not always find us at our desk. You may occasionally see us at branches, private client events, and Education Days.
Do you have some words of wisdom for clients?
Know your product. Whether you’re trading stocks or options, know something about the company. Be aware of earnings and dividend dates, expiration dates, and market holidays.
Any other tidbit our readers may find interesting?
It’s probably hard to believe, but when I started on the CBOE, put options were a very new thing and did not exist on most stocks. We’ve come a long way since then!