new option cancel fees for IB

Quote from hii a_ooiioo_a:

8¢ spreads? So what? With options, you're generally trading a minimum of 5¢ spreads, because they trade in 5¢ increments. Quite often, the spread on options is 10¢ or even more. When you factor in the costs of these cancellation fees, that adds more pennies to the cost of trading an options contract, depending how much you cancel or modify your orders.

SSF:

  • I don't understand why people snivel about 8¢ spreads on SSF, while banging their heads against the brick wall that is options. I think people are just reluctant to try anything that is new and not widely discussed. I'm glad that I'm a person who is willing to try something new.

    And I'm glad that SSF came along when they did. They allow me to say a hearty "Screw you, S.E.C.!" every time I trade them or even place an order to trade them that I later cancel (with no fee!).
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  • Hii...

    Thanks bro...

    Some interesting points. Your posting and others' have made me decide to take a serious look at SSF... and incorporate them in my plans. this weekend I'm planing on spending time doing just that.

    Regards,

    Ice

    .



    :cool:
 
I know this is not an options/SSF forum but I wanted to mention in case some forgot.... that April exiry will be on THURSDAY April 17th....

and for settle-on-open index options, WEDNESDAY April 16th.

I
 
If friends give up this fight as we did in the case of the PDT rules, they will just move it up to your nose again whereever you escape.

:p
 
I don't get it...
What loyalty? I'm just price and service driven.
Find me a better deal for the type and quality of service IB provides and I'll switch.

I don't think I've ever been "crapping" about any of the things you mention.




Quote from qdz3:

Real friends loyal to IB would paid IB as much as commissions as possible from their sustainable consistent profits generously. Shut up crapping for the PDT rules , outrageous illegal fees, and baby-care overtrading etc.

:p
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I say to those loyo IB f8ckers.

:p

Quote from DTK:

I don't get it...
What loyalty? I'm just price and service driven.
Find me a better deal for the type and quality of service IB provides and I'll switch.

I don't think I've ever been "crapping" about any of the things you mention.
More...
 
I apologize for the wording. I was mad, out of mind. Should retire early today. The new fees are really gonna destroy me.

:p

Quote from qdz3:

I say to those loyo IB f8ckers.

:p
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Quote from qdz3:

I apologize for the wording. I was mad, out of mind. Should retire early today. The new fees are really gonna destroy me.

:p
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I got a question....

how do you possibly trade being so emotional?! I mean we all get frustrated at times, but since I've been on ET... you seem to be governed totally by your emotions. You make a valid point about some abuse, but then you start raging and get obsessed as if someone else if responsible for what happpens in the markets or your account!

In all seriousness, you might be well served to check out a good therapist for a short stint, to help you with said frutrations. I mean bro, it doesn't pay to waste time, energy and money trading if you are not at peace within yourself and you're going to get overly worked-up over EVERY issue or problem as occurs in ANY and all businesses. Not just trading.

Beating a dead horse and/or being overly angry only hurts one person... guess who?

Regards,

Ice:cool:
 
Quote from DTK:

I don't get it...
What loyalty? I'm just price and service driven.
Find me a better deal for the type and quality of service IB provides and I'll switch.

I don't think I've ever been "crapping" about any of the things you mention.
More...

I would cease to address his childish posts if I were you. I agree with you 100%. I'll whore my account to any broker who can provide the best price AND service. These days it's IB. I don't see anyone approaching, not even close. In fact, the price gap continues to amaze me.

I like to remind these relative newbies who like to rant about fees of when I started trading. The price was $30 a side for equities and you got your quotes from the morning paper. With that alone, I turned 10K into 100K in a few years with a system that worked well. I took some years off and came back and tried it again and got killed, so I adapted and now I'm back making money doing something completely different.

You can write letters, bitch and moan all you like, but that's not going to improve your bottom line. You must play the hand the man deals you and make it work. The man is tough, but times are good and the technology empowers you. Assess, adapt, overcome.... or step aside.
 
SO lemme get this straight --

eff 4/14/03, $1.20 cancel fee is per order, and not per contract?

...and i get smacked with this fee even if I am making a market and keeping my bid or offer at the same exchange?? (say I am selling ten contracts on ISE, and i move my offer down to a lower price but KEEP the order live on ISE, do i get hit with that cancel fee?)

and for each SMART executed contract, i get a credit of 0.20 towards my cancellation bill?? does it have to be within the same day, or is it within the same month??

thanks for any help -- i'm finding this to be confusing as hell, not to mention downright stupid for a market that is having enough trouble as it is...
 
From what we know, 1.20$ cancel fee is for EACH modification or cancellation, even if the order will stay into the same exchange.
Please forget the words: "making a market"
;-)


Quote from bungrider:

SO lemme get this straight --

eff 4/14/03, $1.20 cancel fee is per order, and not per contract?

...and i get smacked with this fee even if I am making a market and keeping my bid or offer at the same exchange?? (say I am selling ten contracts on ISE, and i move my offer down to a lower price but KEEP the order live on ISE, do i get hit with that cancel fee?)
More...
 
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