Optionshouse amazing flat rate

Discussion in 'Retail Brokers' started by Mvic, Feb 22, 2008.

  1. Mvic


    Not a customer yet or in any way affiliated but I was blown away by their pricing so wanted to let people know. They have a flat rate for option trades, up to 3000 contracts per leg for flat rate of $9.95. At IB and iron condor with 12K total contracts costs $8400 if you execute vis smart and $15K if you direct the orders. At this firm the whole position costs $39.80 to put on.

    Sounds too good to be true but have confirmed with them.
  2. 3000 contracts????

    12,000 SPX spreads????

    Yiikes! Way outta my league.

    I get nervous doing 10! :p
  3. I've read that it's $9.95 per fill. If you have an order for 10 contracts and it takes 3 fills, that's almost $30. How many fills do you think it would take for 12000 contracts?
  4. GTC


    It is per day--not $9.95 per every partial fill on a given day.
  5. Mvic


    Correct, as long as the leg is filled that day it is $9.95. Really an amazing deal for those who do large volume spreads.
  6. Is there anyone who has tried them that can discuss their experience?
    such as quotefeed, platform reliability, etc.
  7. Has anybody read anything about their execution? Who do they clear through and are their accounts insured and to what extent?
  8. they clear through penson
  9. The platform is web based, which leaves something to be desired in my opinion.
  10. Oh, I totally agree, considering that I'm on ThinkorSwim as of now.
    #10     Feb 24, 2008