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Busta21
Registered: Aug 2010
Posts: 142 |
08-24-12 11:11 PM
Just wondering, if anyone cares to share, what rates you pay per option at TOS.
Currently I am at $1 a contract putting through about 800-1000 contracts a month and wondering if there are lower rates/tips with comms using TOS.
THX
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ffk4
Registered: Aug 2012
Posts: 2 |
09-04-12 07:04 PM
I don't have your answer, but am interested in opening accounts with tos if they can offer $1/contract rates. Do you know what volume they demand for the rates you pay? i.e. do you have to do 800/mo go get those rates?
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TheGoonior
Registered: Oct 2009
Posts: 832 |
09-04-12 08:06 PM
Quote from Busta21:
Just wondering, if anyone cares to share, what rates you pay per option at TOS.
Currently I am at $1 a contract putting through about 800-1000 contracts a month and wondering if there are lower rates/tips with comms using TOS.
THX
I get $1.25 per contract (and do nowhere near your volumes).
However, I have had this account since before TDA bought them. I also have a account with IB and TOS didn't seem too interested in matching their pricing (even without knowing my volume) as they said: "IB is a deep-discount" broker, so I guess they consider themselves a "low discount" or something. Not sure if the switch to TDA will change their attitude for negotiation.
TOS doesn't charge modification fees or monthly data fees and you can close short options <$0.05 for nothing, but they also have some other fees ($15 assignment fee per strike), so your style of trading may dictate if they are a good fit.
I don't think they offer the same level of order routing as IB but you'll want to double check on that.
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Busta21
Registered: Aug 2010
Posts: 142 |
09-04-12 09:25 PM
Quote from ffk4:
I don't have your answer, but am interested in opening accounts with tos if they can offer $1/contract rates. Do you know what volume they demand for the rates you pay? i.e. do you have to do 800/mo go get those rates?
No, before that I was putting through 100-200 a month and then asked. It was before the TDA merger though.
Was just curious, because, it start's to add up after a while but the execution is flawless with them so hard to argue.
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FrankSlaughtery
Registered: Aug 2010
Posts: 811 |
09-05-12 11:18 AM
don't know what the policy at tda (former tos) is now but i don't think they're as willing to negotiate individual rates as tos was - correct me if i'm wrong anyone who's tried this recently
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FSU
Registered: Jun 2010
Posts: 239 |
09-05-12 06:22 PM
Another thing to note is that TOS commissions include any exchange fees, so if you are trading the SPX, OEX, or VIX options (which have high exchange fees), you may be paying less than other brokers.
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