Do you know of any zero commission option broker, that allows you to place conditional option orders based on stock price movement on their platform? Example: I can place a conditional order to sell at market the 385 straddle, if SPY etf price moves from 380(current price) to 385.
@TheDawn I think it says on TDA website $0.65 per contract, which is not bad. However, I am not sure if that $0.65 is to be multiplied by 100(i.e The standard multiplier for stocks and options)? If that is the case, then that would be really bad especially for OTM spreads because it adds up per leg.
No it's per contract. Each contract contains 100 units of underlying but there is no multiplication of the commission by the units contained in each contract. So if you transact 1 contract, it's just $0.65. If you transact 5 contracts, it's $0.65 X 5 = $3.25 total commissions. Took me a while to figure that out as well. So it's not bad but you need to be aware that TDA is also PFOF so they are compensated by the MM's that pay them for orderflow that's why their commissions is lower.
Wow, not bad at all. Although maybe $0.65 per contract for opening and another $0.65 for closing trade(not sure) but still not bad.Thanks, I now understand the pricing.
$0.65 is per contract. As long as a contract is traded, regardless whether it's for opening or closing, it's $0.65 although if the closing contract is a buyback transaction and its price is 5 cents or less, the commission is free. You are welcome. Good trading!