Datek Options

Discussion in 'Retail Brokers' started by lwlee, Jan 21, 2001.

  1. lwlee


    Can anyone comment on the quality of their execution? Also how do they compare to others? Preferred Trade?
  2. Htrader

    Htrader Guest

    I've been using Datek options for the past couple of months and they're pretty good for simple stuff. You can only buy calls and puts currently, no spreads or any fancy stuff, but their executions have been within 20 seconds usually. However, I've only been trading 10 contracts and less.

    The only problem is trying to buy/sell an option right at open. Oftentimes their quotes will be off for the couple of minutes.

    The best thing I like about them is you can exercise up to 50 options online for only $9.99. This is often cheaper than selling the original options. So I will often buy/short the underlying stock and exercise the option to avoid paying the large option spread.