Tom Sosnoff | |
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Born | |
Nationality | American |
Academic background | |
Alma mater | University at Albany, SUNY |
Academic work | |
Discipline | Finance Options trading Entrepreneurship |
Website |
Tom Sosnoff (born March 6, 1957) is an entrepreneur, options trader, co-founder of Thinkorswim [1] and tastytrade, and founder of Dough, Inc. He was senior vice president of trading and strategic initiatives at TD Ameritrade. [2] [3] [4] [5] Sosnoff promotes option trading as a financial strategy for the individual investor.
Sosnoff, a native New Yorker, [6] got his first job as a caddie at the age of 13. [7] In 1979, Sosnoff received a BA degree in political science from University at Albany, SUNY and immediately began working for Drexel Burnham Lambert. [2] [7]
Sosnoff worked as a market maker at the Chicago Board Options Exchange through the Sosnoff Sheridan Group in the 1980s. [8] In 1999, Sosnoff co-founded Thinkorswim, an online brokerage firm specializing in options trading for individuals. [8] In 2009, Thinkorswim was sold to TD Ameritrade for $750 million [9] and Sosnoff personally received $84 million from the sale. [10] In 2011, Sosnoff announced that $20 million in venture capital had been raised for his new company tastytrade. [9] His aim in founding tastytrade was to create a financial news show focusing on options, mixing content with comedy similar to the " Daily Show ". [11] [12] In 2014, a Silicon Valley venture fund, Technology Crossover Ventures, invested $25 million into Dough Inc., also founded by Sosnoff, which includes tastytrade. [12] [13]
In January 2021, tastytrade was acquired by IG Group for $1 billion. [14] [15]
Sosnoff hosts a financial news show on tastylive, previously known as tastytrade, where he focuses on teaching individuals how to trade options via original skits and educational content. [16]