What's the cheapest option commission you've heard of?

W

wilburbear

For a public customer (non-bd), in plain vanilla U.S. equity options. Yes, I know it depends on volume. Just want to know what's possible out there, and with who.

If you need a volume to contribute to this thread, let's just take 1500 contracts per day on average over a year's time.
 
Quote from demoship:

interactive brokers.

starts at .7 / contract

gets as cheap as .15 / contract

minimum is 1 / order.
More...

But there is also an order charge, $10, I believe.
 
Quote from cdowis:

But there is also an order charge, $10, I believe.
More...

Don't these fucking retards bother checking the web page before giving mis-information?

This information (for IB at least) is readily available

http://individuals.interactivebrokers.com/en/accounts/fees/commission.php?ib_entity=llc

Any contracts after 100,000 get the .15 commish.

Note that IB tiers things differently then most brokerages.

Most brokerages price every trade the same based on your monthly volume, IB prices the first 10000 contracts @ .7 each, the next 40000 @ .5 each, etc..

So if you trade 200K contracts / month you'll average something like .4 / contract

Note the reason why direct routed orders are so much more expensive, is because IB gets paid for order flow to the options exchanges (As does every other broker-dealer). The payment is substantial too, it's ~ $1 / contract.
 
9.95 Flat, I trade a 100 contract x 2 every day for scalps, all the other guys were eating me up on commisions.

They are working on their interface and charts on the net, so I use Quote Tracker for my charts and trade through Options House.
 
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