Best options broker?

Quote from rmorse:

How much volume did you do that month to receive that cost structure?

Bob
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Hi Bob,

I am not a previledged trader on IB. Just a normal trader. That commission was low because my trade (although put as smart) was traded in NASDAQ and I was reimbursed for adding liquidity that reduces the commission. I have paid about $5000 commission YTD but as I said the commission that I was charged had nothing to do with my activity. If that trade was executed in CBOE, I would be charged 17 x (0.7 + 0.04)= $12.58
 
Quote from rmorse:

This is not an IB policy but an exchange policy. "Customer" order take priority in front of Market Maker markets. If you were allowed to make two side markets and get priority, no one would ever become an exchange member and offer depth and liquidity to the markets. If you change your status to "Pro Customer", you can make two sided markets but the costs are higher and you might lose your priority on the book.
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Thanks Bob. I knew that it is an exchange policy and not IB related. However Fidelity allows me to put order on both sides but unless they can screw me, my order does not get executed in a reasonable price. That is my 401K account.
 
Quote from hajimow:

Thanks Bob. I knew that it is an exchange policy and not IB related. However Fidelity allows me to put order on both sides but unless they can screw me, my order does not get executed in a reasonable price. That is my 401K account.
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If we are talking about options, they should be blocking the second order, unless your order is held in their system or an option dark pool and not on the open book on the option exchange.
 
Quote from hajimow:

Hi Bob,

I am not a previledged trader on IB. Just a normal trader. That commission was low because my trade (although put as smart) was traded in NASDAQ and I was reimbursed for adding liquidity that reduces the commission. I have paid about $5000 commission YTD but as I said the commission that I was charged had nothing to do with my activity. If that trade was executed in CBOE, I would be charged 17 x (0.7 + 0.04)= $12.58
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You should receive those rebates/fees from DMA routes at most brokers.

Bob
 
Quote from rmorse:

You should receive those rebates/fees from DMA routes at most brokers.

Bob
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Yes I "SHOULD" but with almost 10 brokers that I had been before I left them for good to IB, never that rebate happend to me. I know some brokers pass that rebate to the customer but I believe that is a rare practice.
 
eOptions charges 3$ per ticket + .10cents per contract.

10 contracts is 4$
20 contracts is 5$
100 contracts is 13$

I guess if you're trading 1 contract of like PCLN or some other high dollar underlying then eOptions wouldn't be best but anyone trading 10 lots or more .... I don't think eOptions can be beat.

FYI - eO's platform is terrible (I use it just for watchlist) and their website is worse ~

Another tidbit - Ameritrade doesn't charge any commission now when closing short positions of .05 or less - this change is very new.
 
ChoiceTrade $5+$0.01 per contract, not as cheap as EOptions,
but they have a much better platform and website.
It may be the best broker for large spread trade overall.

Quote from Whistlingleaf:

eOptions charges 3$ per ticket + .10cents per contract.

10 contracts is 4$
20 contracts is 5$
100 contracts is 13$

I guess if you're trading 1 contract of like PCLN or some other high dollar underlying then eOptions wouldn't be best but anyone trading 10 lots or more .... I don't think eOptions can be beat.

FYI - eO's platform is terrible (I use it just for watchlist) and their website is worse ~

Another tidbit - Ameritrade doesn't charge any commission now when closing short positions of .05 or less - this change is very new.
More...
 
Sorry It should be $5+0.15 per contract
Quote from qtcinv:

ChoiceTrade $5+$0.01 per contract, not as cheap as EOptions,
but they have a much better platform and website.
It may be the best broker for large spread trade overall.
More...
 
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