Newbie question

Discussion in 'Options' started by jlryan87, Nov 22, 2009.

  1. jlryan87




    Why isn't the Buy from 09/18 listed in the profit analysis? How did I get profit?
  2. MTE


    Don't you think this is something your should ask your broker and that your broker would be the best person to answer this question!?
  3. spindr0


    If the positions listed are correct then their software needs a swift kick.

    At $14.95 per trade, one should be a buy and hold investor!
    That's an awful lot to overcome as a one lot trader.
  4. Sep 18 was expiration Friday

    You bought stock at 40
    You sold stock at 35

    You have no remaining position.

    You sold the Sep 35/40 call spread and these reports reflect the fact that you were assigned an exercise notice on the Sep 35 call and exercised your Sep 40 call.

    You have no profit. You lost $500 minus the credit you collected minus four (outrageously large) commissions.

    For an unknown reason your purchase of 100 shares @ 40 does not appear.

    You have no profit

  5. jlryan87



    I did, they just haven't replied yet. No harm looking for comment here.


    $14.95 is awful. Any good suggestion for brokers? Zecco? Tradeking?


    That's what I thought. And I think your book got really favorable reviews. I think I'm checking it out. Do you know any brokers that have low commissions?
  6. Anything more than $1.50 per contract is highway robbery.
  7. spindr0


    Interactive Brokers charges 70 cts per contract (less if the option is 5 or 10 cts) and 1/2 a ct per share (50 cts per 100 shares). Assignment and exercise are free... all subject to a $1 minimum commission.

    Last I knew, there was a $10 per month data charge if you don't generate $30 in commissions per month. At $14.95 a trade, you're ahead by your 3rd trade. A hundred single lot trades in a year will save you $1400 which is huge.

    A lot of posters are dissatisfied with IB's customer service. I've never had any problems with them.

    A lot of people here indicate that TOS has superior analytical tools. If you like them, use both brokers :)