Bread & Butter Iron Condors

Quote from justrading:

I'm really enjoying this thread.

I have a question on TOS commissions, specifically Options on Futures.

On this page ( https://www.thinkorswim.com/tos/displayPage.tos?webpage=servicesOrderTypes&displayFormat=hide# click on Futures tab, fine print below table) it says $3.00 per contract inclusive of exchange fees, whilst on this page ( https://www.thinkorswim.com/tos/myAccounts/displayRates.tos# click on options tab) it says $9.99 + 0.75 per contract for Equity or Index Options.

None of these rates are close to what you mention, and indeed I was put off from checking further by the high rates.

For a simple buying of a call or put, what should we expect the commission to be? Is it tied to a volume scale?
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I saw that $9.99 + 0.75 there too.
I think I had it changed later to a flat rate of $1.50 per Option.
I also get a $39.95 cash refund each month from t.o.s. if I do enough trades.
But I forget how many trades I need to get that...duhh...
Just started a new Thread to try and get to the bottom of this!!
:)
 
Quote from cactiman:

I saw that $9.99 + 0.75 there too.
I think I had it changed later to a flat rate of $1.50 per Option.
I also get a $39.95 cash refund each month from t.o.s. if I do enough trades.
But I forget how many trades I need to get that...duhh...
Just started a new Thread to try and get to the bottom of this!!
:)
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Thanks, I've just subscribed to that thread as well.
 
Quote from rocky_raccoon:

For 10 ICs (40 contracts) total tradeMONSTER commissions are 40*.50 = $20. $15 is a minimum for spreads.
If you sell 1-7 ICs, your commissions will be $15; for 8 ICs it will be $16, and so on.
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Thanks. I should have been able to figure that out, but there was a brain cloud....
Started a new thread about this topic if you want to check it out.
I put your quotes in there.
:)
 
Quote from cactiman:

I'm only opening SPY Iron Condors these days, so there's no correlation involved.
But I see your point about it adding to the "Total Risk" if there was!

There's a SPY group expiring in every month from August-January.
About 1/2 of them are completed (Top & Bottom Legs) and 1/2 with just 1 leg opened so far.

The completed ones have various ranges, and the August 17th closers with Tops in the low 140s are worrying me at the moment.
Could use a pullback in SPY before next Friday!
:)
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seems like the spy hasn't been able to get very far through 1400.. and your thinking it might be different this time?
 
Quote from cdcaveman:

seems like the spy hasn't been able to get very far through 1400.. and your thinking it might be different this time?
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That's the big question of course. When will the $SPX go to new highs?
I certainly hope we do so this year, because all my directional trades are Longs (via Bull Put Spreads).
But Mr. Market, could you PLEASE just keep the SPY below this line for 8 more days?
:D
 

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Quote from cactiman:

That's the big question of course. When will the $SPX go to new highs?
I certainly hope we do so this year, because all my directional trades are Longs (via Bull Put Spreads).
But Mr. Market, could you PLEASE just keep the SPY below this line for 8 more days?
:D
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ahhh seems like summer doldrums to me... i hear retail investors talking about waiting till after the election.. i've always heard institutions don't trade much in the summer.. i've heard the fall is typically more volatile.. and i've also heard a hell of alot of retail type investors talk about Random walk theory.. seems like the last two months has been a little joggy drift.. i doubt it will end with a solid flat line across the chart though.. haha
 
Quote from cdcaveman:

ahhh seems like summer doldrums to me... i hear retail investors talking about waiting till after the election.. i've always heard institutions don't trade much in the summer.. i've heard the fall is typically more volatile.. and i've also heard a hell of alot of retail type investors talk about Random walk theory.. seems like the last two months has been a little joggy drift.. i doubt it will end with a solid flat line across the chart though.. haha
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You gotta love Market Gossip. It's half the fun!
If there's one thing I'm pretty sure about it's this:
My opinion about what the Market will do, plus $1.50, will probably get me a nice cup of coffee at Starbucks!
(depending on local prices...)
:)
 
Quote from cactiman:

You gotta love Market Gossip. It's half the fun!
If there's one thing I'm pretty sure about it's this:
My opinion about what the Market will do, plus $1.50, will probably get me a nice cup of coffee at Starbucks!
(depending on local prices...)
:)
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Well I'm a gold card holder ... getting 2 to 3 refills a day for free putting each cup at about an average of .94 cents. :). I love sbux
 
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