Tom Sosnoff Biography
Tom Sosnoff is an American entrepreneur, options trader, co-founder of Thinkorswim and tastytrade, and founder of Dough, Inc. He was born on March 6, 1957, in New York, New York, United States.
Sosnoff was Senior Vice President of Trading and Strategic Initiatives at TD Ameritrade. He promotes option trading as an important financial strategy for individual investors. Sosnoff has promoted this view by founding an online financial network, tastytrade, and by developing software products to support individual investor options trading.
10 Quick Facts About Tom Sosnoff
- Name: Tom Sosnoff
- Age: 63 years old as of 2020
- Birthday: 6 March
- Zodiac Sign: Pisces
- Height: 5 feet 6 inches (1.68 m)
- Nationality: American
- Occupation: Entrepreneur
- Marital Status: Married
- Salary: To be updated.
- Net worth: $150 million
Tom Sosnoff Age
Sosnoff is 63 years old as of 2020, he was born on March 6, 1957, in New York, New York, United States. He celebrates his birthday on 6 March every year, and his birth sign is Pisces.
Tom Sosnoff Height
Sosnoff stands at a height of 5 feet 6 inches (1.68 m) tall.
Tom Sosnoff Weight
Sosnoff has a weight of 80 kgs (176 lbs).
Tom Sosnoff Education
In 1979, Sosnoff received a BA degree in political science from the University at Albany, SUNY, and immediately began working for Drexel Burnham Lambert. Tom, a native New Yorker, got his first job as a caddie at the age of 13.
Tom Sosnoff Parents
Tom’s father was a professor as well as an attorney at Yale. His mother was an artist and had an art school for girls. After doing more research on details about his parents the names of his parents are not known to the public and it is also not known if he has any siblings.
Tom Sosnoff Wife
Sosnoff is married to his wife whose name is unknown. Sosnoff has two children, a daughter, and a son. His daughter’s name is Case Sosnoff and there is no detail about his son yet. His daughter works as the Chief Compliance Officer at her father’s firm, TastyWorks. Tom likes to keep his personal life private hence information about his wife is under research.
Tom Sosnoff Children
Sosnoff is a father of two children, a daughter Case Sosnoff, and one son. His daughter works as the Chief Compliance Officer at her father’s firm, TastyWorks. There is no detail about his son yet.
Tom Sosnoff Net Worth
Sosnoff has an estimated net worth of $150 million as of 2021. This includes his assets, money, and income. His primary source of income is his career as an entrepreneur. Through his various sources of income, Sosnoff has been able to accumulate a good fortune but prefers to lead a modest lifestyle.
Tom Sosnoff Book
How I Learned to Trade Like Tom Sosnoff and Tony Battista.
Tom Sosnoff Measurements and Facts
Here are some interesting facts and body measurements you should know about Sosnoff.
Tom Sosnoff Wiki
- Full Names: Tom Sosnoff
- Popular As: Entrepreneur, options trader, co-founder of Thinkorswim and Tastytrade, and founder of Dough, Inc.
- Gender: Male
- Occupation / Profession: Entrepreneur
- Nationality: American
- Race / Ethnicity: White
- Religion: Not known
- Sexual Orientation: Straight
Tom Sosnoff Birthday
- Age / How Old?: 63 years (2020)
- Zodiac Sign: Pisces
- Date of Birth: March 6, 1957
- Place of Birth: New York City, New York in the USA
- Birthday: 6th March, every year.
Tom Sosnoff Body Measurements
- Body Measurements: Not Available
- Height / How Tall?: 5 feet 6 inches (1.68 m) tall.
- Weight: 80 kgs (176 lbs).
- Eye Color: Not available
- Hair Color: Not available
Tom Sosnoff Family and Relationship
- Father (Dad): Not known
- Mother: Not known
- Siblings: Not known
- Marital Status: Single
- Wife/Spouse: Not known
- Dating / Boyfriend: Not known
- Children: a daughter Case Sosnoff and a son
Tom Sosnoff Networth and Salary
- Net Worth: $150 million as of 2020.
- Salary: Under review
- Source of Income: Entrepreneur, options trader, co-founder of Thinkorswim and tastytrade.
Tom Sosnoff House and Cars
- Place of living: To be updated
- Cars: To be updated
Tom Sosnoff Career
Sosnoff Thinkorswim And Tastytrade
In the early 1980s, through the Sosnoff Sheridan Group, Tom was a lead market maker at the Chicago Board Options Exchange. He believed that options trading would largely move online and that individual investors would become interested in trading options by 1999 if they had the software tools to do so. This led to his co-founding of Thinkorswim in 1999.
Thinkorswim was sold to TD Ameritrade for approximately $606 million in 2009, and Tom received $84 million. He announced in 2011, that $20 million in venture capital had been raised to support his idea for a financial network called tastytrade. His reason for founding tastytrade was to create a financial news show focusing on options, which mixes content with comedy somewhat like the “Daily Show“.
A Silicon Valley venture fund, Technology Crossover Ventures in 2014, invested $25 million into Dough Inc., also founded by Tom, which includes tastytrade. Tom was co-winner of the EY Entrepreneur of the Year Midwest Award in 2014.
Tom Sosnoff Options
Tom recommends options trading as a viable long-term financial strategy for individual investors. He claims that the use of call options and put options can reduce the risk of owning stocks, and options trading is a portfolio management strategy that is well-suited for the individual investor
As per him, the two main keys to successful options trading are the market liquidity of options and understanding volatility and, specifically, implied volatility and implied volatility rank. Options trading can be successful in liquid underlying when volatility is properly assessed, and options strategies appropriate to an individual investor’s risk and financial resources are used.
Tom contends that, while liquidity, implied volatility, and implied volatility rank are crucial to successful options trading, there are other key elements. It is important to trade small, by which he means that individual investors should invest only a small percentage of their portfolio in any given stock, options, or futures position (e.g., selling only one or a few options contracts). By investing in many small positions, losses can be minimized, as long as positions are uncorrelated.
While liquidity, understanding volatility, trading small in uncorrelated positions, market awareness, and delta neutral portfolios are essential for successful trading, according to Sosnoff, trading mechanics are also essential. Trading mechanics are heuristics that an option trader learns when applying options strategies.
According to Tom, the introduction of electronic trading platforms created new investment opportunities for individual investors, however, the software tools required to take full advantage of online trading are lacking. He sees the continued development of options trading software as critical for individual investor success.
For individual investors to be successful, they need graphical user interfaces that instantly bring together relevant information so that investors can use the best strategies and mechanics for options trading. To this end, Sosnoff has devoted considerable effort to the development of software platforms for individual options investors.
Frequently Asked Questions About Tom Sosnoff
Who is Tom Sosnoff?
Sosnoff is an American entrepreneur, options trader, co-founder of Thinkorswim and tastytrade, and founder of Dough, Inc.
How old is Tom Sosnoff?
Sosnoff is 63 years old as of 2020, he was born on March 6, 1957, in New York, New York, United States.
How tall is Tom Sosnoff?
Sosnoff stands at a height of 5 feet 6 inches (1.68 m) tall.
Is Tom Sosnoff married?
Sosnoff is married to his wife whose name is unknown.
How much is Tom Sosnoff worth?
Sosnoff has an estimated net worth of $150 million as of 2021.
Where does Tom Sosnoff live?
Because of security reasons, Sosnoff has not shared his precise location of residence. We will immediately update this information if we get the location and images of his house.
Is Tom Sosnoff dead or alive?
Sosnoff is alive and in good health. There have been no reports of him being sick or having any health-related issues.
Where is Sosnoff Now?
Sosnoff is an American entrepreneur, options trader, co-founder of Thinkorswim and tastytrade, and founder of Dough, Inc.
Tom Sosnoff Contacts
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