Understanding IB's commission

M

marsman

Have sold 60 puts and paid $98.08 commission.
How come? Shouldn't it be less than $60 according to their commission structure?

IB_comm.png


(TimeZone here is CET)
 
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1245 said:
Did you take liquidity? Did you trade a product with extra CBOE fees?
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Yes, I took liquidity. Should that matter with IB's commision structure?
I used SMART routing.
Re CBOE: how does one know that? And what does it mean?
 
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Yes, the fees are plus costs. Costs are regulatory and exchange fees. They break them down on the daily.
 
I've opened a ticket and asked them to switch me to the Fixed Plan...
As indicated on the above screenshots the user cannot change this setting for options.
Only that for Stocks and FX or something else can be changed by the user him/herself.
 
I think the fix plan is only for equities and futures, options don't have a fix plan at IB. I could be wrong.
 
1245 said:
I think the fix plan is only for equities and futures, options don't have a fix plan at IB. I could be wrong.
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But just take a look at the second screenshot above... I was thinking that is the default for me since they advertise this plan, and only this plan is given for the US at their website.
In account settings there is no commission setting for options.
 
I trade SPX BWBs so I get hit with the CBOE fees, etc. That $0.70/contract figure ropes them in but isn't the whole story. Effective commission is $1.22/contract for me on a 6-lot BWB

IB commission = 0.70
CBOE exchange fee = 0.44
US regulatory fee = 0.04
OCC clearing fee = 0.04
Total = 1.22
 
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