Yes. I should have said that. Contact Scott Sheridan and see what he
is able to tell you or do for you. Let us know what happens!
Christopher Smith
TheOptionClub.
--- In OptionClub@yahoogro
>
> Hi Scott.
>
> Send an email to Scott Sheridan [scott@...] and ask him to add the
OptionClub $1.50/contract commission price to your account. Scott is
one of the 2 founders of TOS and handles the commission match inquiries.
Make sure to mention you are in the Canada subsidiary and I'm sure he'll
either do it for you or point you to the right person. Good luck. Let
the group know the outcome so that we have a TOS price match procedure
for the other Canadian members.
>
> ____________
> From: OptionClub@yahoogro
On Behalf Of Scott K Newman
> Sent: Wednesday, February 03, 2010 10:33 AM
> To: OptionClub@yahoogro
> Subject: [TheOptionClub.
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@yahoogro
"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.
> >
> > --- In
OptionClub@yahoogro
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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