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That must be a lot of volume. To be clear, if you trade one side and let the option expire, exercise or assign, they charge you $1.10 plus reg and exchange fees. If you round trip the option, another $0.10/option plus reg and exchange fees. So if you trade one side and don't close the trade...

I guess you are right. Hard to follow.

The contract does not matter.

The reality is that FCMs love day-traders. They have less risk and require no cap charge. Overnight positions require more monitoring, higher risk and your margin requirement must be meet by their capital to the tune of 8%. Eg. If your margin overnight is $100,000, they have to set aside $8000...

OK, now I know what you are talking about. On the IB tiered futures rate, that if for day trading. If you hold overnight positions, they charge you a fee for each day you carry it. We don't do that and most other FCM do not either. Carrying charges are applied for each net futures contract, net...

Just kidding, I became a grandfather last year, you can call me old man Morse.

Ouch!

No interest. You are not buying on "margin" with borrowing. You have to have the funds for the CME margin requirement. Even a short future is not a borrow of someone else future that you need to deliver like an equity.

You're a smart teen fascinated by the markets and have the dream of going to NYU. I think that is all great. You can enjoy learning about the markets and doing some investing or even trading without looking to do it as a career. I started the same way you are. I was 16, in 1976, and saw an ad...

T3 acquired WTS group's assets, whatever that means. http://www.prnewswire.com/news-releases/t3-trading-group-llc-acquires-wts-proprietary-trading-group-llc-assets-300020562.html

Or get a new broker.

https://www.lightspeed.com/pricing/other-fees/ Wire Fees (Domestic) $20.00 ACH Transfers Funds-- FREE (ACH deposits are limited to $30K over a rolling 60-day period. ACH disbursements are capped at $50K per day)

Because the account is small, or in general?

From yesterday's close, the midpoint was a 2 cent credit. With commissions let's say that would be close to even. The more important question is, why did you choose those strikes and that week? What is your expectation for the movement of SPY between now and Feb1? Are you expecting a quick move...

Use options.

Ask them if they can get you CME Direct. You can trade option spreads on any CME product and the platforms is free. It is terrible at position management and risk, but you can use a spreadsheet for that. We can't offer futures accounts below $25K.

Give me an example of a symbol and the time frame and strikes you are looking at.

Are you asking about buying 2 OTM options and selling 1 closer? If that is true, you would do that looking for a binary event in one direction. If the event does not occur, or if the stock stands still or moves in the other direction, you will lose little or if you set up for a credit, make...

In my opinion, 2x24" screens are better than one big one. Curved displays seem like a waste of money for trading. You can mount the display if you don't have desk space.

That was the best, for me! I was an option MM on the Amex from 1985 until 2010.