[TheOptionClub.com] Re: Has anyone tried this for TOS Commissions?

 

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@yahoogroups.com, "TheOptionClub" <chris@...> wrote:
>
> 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.com
>
> --- In OptionClub@yahoogroups.com, Mike Cleveland <mikeandjody1996@>
> 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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