Here we go again. It’s just about option expiration Friday and it’s looking like the papermoney and my personal positions are all shaping up to be quite nice. I’ve also put out a few orders for a few new May positions, basically copying the current April ones and rolling them out. I’ll post the positions when the fills come in.
As I’ve started to trade the
DIA(90.15 +0.45) and
SPY(93.47 +0.62) products a little more, I’m finding that the per contract commissions at thinkorswim are starting to get very expensive. I actually killed a nice
DIA(90.15 +0.45) trade this evening because the commissions knocked down the ROI. I’m on the hunt for another online broker that I can use to open up a secondary account to trade larger volumes; this will very likely end up being optionshouse.com
Anyhow, I’m still a huge thinkorswim fan and truly believe they have some of the best software in the business. I’ll do some more research prior to opening a new account… only time will tell.
Tags:
dia,
rut,
spy
Categories: Options Trading, Papermoney
2 Responses to “Ah… the smell of money”
Regarding “I’m finding that the per contract commissions at thinkorswim are starting to get very expensive”:
thinkorswim advertises, and actually delivers, that they will match any major online brokers’ rates: https://www.thinkorswim.com/tos/myAccounts/displayRates.tos
Before you switch, give them the chance to match the competition. Best wishes with your trading!
John, thanks! I didn’t even realize that. I’ll have to give them a jingle to see what I they can do. I didn’t see a flat rate commission schedule, but I’m sure they can match it. I’d love to be able to nail out these larger number of contract trades on the mini’s without the massive commission expense.
When doing trades on the mini’s I’m tacking in about .10 to .30 on a $1 spread, when paying per contract it’s adding up to be pretty expensive. Thanks again!
-rb