IB is still better in Canada. Use TOS to do tech and other analysis and use IB to trade.
TOS took forever to reduce mine in the US and $1.50 is too high in the US. With enough trades and large enough account they give some break.
Not sure if eOptions is in Canada. They are $3 per ticket plus $0.10 per contract. You can do the math as to at what number of contract levels you break even.
Iron Condors of 5 contracts will cost $5.00 with eOptions and 2 contracts will cost $3.80 - with eOptions. I am not a big fan of these complicated strategies - they never make money with high commissions. If you can make with condors, flies, you can still do the same with spreads, simple options, ITM covered calls, ATM CC etc. Trade what makes money, do not go by what Optionetics, Dan and other gurus have to say. Learn the strategies and better yet learn to repair.
Good luck, v
---
V. Kapil
http://twitter.
Hey Guys,
I live in Canada and TOS is owned by TD Waterhouse here which is a separate division of TD Ameritrade from the USA. I asked if they will wave the the $7.50 minimum charge per leg. Since I am still learning the ropes I only trade 1 contract per leg and I primarily do Iron condors. I am ok with the $1.50 per contract charge but they refused to wave the $7.50 minniumum. The best they offered was $5 minimum per leg which still adds up to a lot of money when you trade only 1 contract per leg on an iron condor.
Is anyone here from Canada that has had better success then I did with TOS? Also, do any of you guys have pull with the heads up at TOS where we might be able to get them to bend the min. charge rules for their Canadian subsidiary?
Any help would be greatly appreciated. Thanks.
--- In OptionClub@yahoogro
>
> Mike,
>
> Basically what happens when you're assigned on a cash index option is
> that for every point it is in-the-money $100 is deducted from your
> account. So, if you have a 10 point spread the worse case scenario is a
> $1,000 deduction per spread sold. It's really not that big of a deal so
> long as you are managing your risk and not trading to much size. The
> cash deduction is no different that the account debit you experience
> when closing the position.
>
> Most of the cash index options are European style, meaning that they
> cannot be exercised early but there are some that are American style and
> that offer early exercise potential. For details on the specific
> options you're trading head on over the the CBOE website.
>
> Christopher Smith
> TheOptionClub.
>
> --- In OptionClub@yahoogro
> wrote:
> >
> > Thanks Chris,
> >
> > These are index options. I learn by doing, so I trade live, just very
> tiny position sizes, so that I can understand what is happening in the
> live market. I had no plan for getting assigned on the short options, I
> only had plan to manage the portfolio by keeping delta neutral, which
> has indeed happened so far.
> >
> > Mike
> > P.S. I just trade with TOS regular commission schedule, for the reason
> mentioned below.
> >
> >
>
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