Shannon- I too just received the update about the pricing structure change and am not very happy with the changes. I have been quite satisfied with the level of service from OH since I moved my account there earlier this year. This change is now making me consider other discount brokerages. I hope you and your team will take into consideration the comments that have been posted here. -Dave
Shannon - can you ask George Ruhanna or (someone who is in charge of this) what they think about our proposed solutions? Specifically: - Grandfathering current users to stay at a flat rate, especially for 1k or less contracts/trade. - Having a flat-rate for all customers who trade < 1k contracts (or something close to that), and then a tiered rate for volume above that. We understand that you want to make more off the "professional" guys, but the reality is that lots of users like me who trade smaller volumes (but still more than single-digit contracts) are getting screwed by this, and we're pissed. Thank you, and looking forward to your reply.
Shannon: Count me in on this request, except only the first part about grandfathering in people with the flat-rate. I have to believe there is some sort of standard that could be set where-as OH doesn't lose $ by letting existing users keep the old rate. Be it under X amount of contracts, or what have you. ..
Could you offer some color on "professional-grade risk management" and on margin and interest-rate considerations in general? I haven't used your firm but would consider doing so and would like to hear from the horse's mouth. And in any case, the whining-about-prices theme has about run its course.. "I want to pay less rather than more" -- ummm, OK, we get it.
The person who started this thread, started it to discuss the price change at OptionsHouse. If you don't want to hear about that, then don't read the thread, but don't come in here and tell everyone the topic is changing.
OP title is "Options House is now junk!!" (not, say, "OH pricing") and the thread has discussed various aspects of their business model, including their software. The (obvious) point I made was: everyone wants to pay less for everything, always. I'd like to pay less than sticker for the next car I buy. After 30 posts saying "I want to pay less", any sentient being gets the idea.
I'm not getting into this stupid discussion with you. This is the first post: They got rid of their $9.95 pricing for up to 4,000 contracts in a single order. They have now taken to the standard pricing of $8.50 + .15/contract. Still better than a lot of places except Interactive Brokers and their platform isn't as close to as good as IB. What a terrible business decision! I don't care what the subject of the thread says, the first post sets the topic of discussion, post your question about OH if you like, but stop telling people they can't discuss pricing. That's what the thread is about.
Sure. I've posted a lot about OH in the past. To answer your question go to the about the 2:30 mark in the following link: http://www.optionshouse.com/tour/
+1. Trader with >1k contracts would be glad to break it down in multiple orders .. or use tiered volume rates .. whichever is better