期权交易费：TastyWorks vs IB# Stock
E*r
1 楼
1. TastyWorks
Option Roundtrip Example (Including Commissions and Fees):
A roundtrip of 10 contracts for $5/contract would have
a total cost of $12.99 ($11.43 to open and $1.56 to close),
based on the following breakdown:
Cost to Open
Commission: $10.00 = ($1 x10)
Clearing Fee: $1.00 = ($0.1 x10)
ORF Fee: $0.43 = ($0.0431 x10)
Subtotal Cost: $11.43
Cost to Close
Commission: $0
Clearing Fee: $1.00 = ($0.1 x10)
FINRA TAF: $0.02 = ($0.002 x 10)
SEC Fee: $0.11 = ($0.0000218 x10 x100 x5)
ORF Fee: $0.43 = ($0.0431 x10)
Subtotal Cost: $1.56
Total: $12.99
----------
对比 IB：
A roundtrip of 10 contracts for $5/contract would have
a total cost of $21.12 ($10.56 to open and $10.56 to close),
based on the following breakdown:
Cost to Open
Commission: $7.00 = ($0.70 x10)
Exchange fees: ~$2.50 ($0.49~0.85 per exchange; may routed to multiple
exchanges, assume 3)
Regulatory fees: $0.43 ($0.0431 x10)
Transaction fees: $0.11 ($0.0000218 x10 x100 x5)
FINRA TAF: $0.02 = ($0.002 x10)
OCC Clearing fees: $0.50 = ($0.05 x10)
Subtotal cost: ~$10.56
Cost to Close = Cost to Open ~= $10.56
Total: ~$20
----------
所以我觉得在 IB 做 options 不大划算，
特别是它那个“smart routed”，经常会 route 到好几个 exchange，
每个 exchange 都收一次费。
而 TastyWorks 则把 exchange fee 包括在 flat rate commission 里了。
而且 TastyWorks 在 close 的时候免 Commission，
其实也是鼓励你去close positions而不是让它们expire worthless。
自觉的 option seller 在实现了50% of max profit 的时候都应该去主动平仓，
这样能够大大增加赢钱概率。
Option Roundtrip Example (Including Commissions and Fees):
A roundtrip of 10 contracts for $5/contract would have
a total cost of $12.99 ($11.43 to open and $1.56 to close),
based on the following breakdown:
Cost to Open
Commission: $10.00 = ($1 x10)
Clearing Fee: $1.00 = ($0.1 x10)
ORF Fee: $0.43 = ($0.0431 x10)
Subtotal Cost: $11.43
Cost to Close
Commission: $0
Clearing Fee: $1.00 = ($0.1 x10)
FINRA TAF: $0.02 = ($0.002 x 10)
SEC Fee: $0.11 = ($0.0000218 x10 x100 x5)
ORF Fee: $0.43 = ($0.0431 x10)
Subtotal Cost: $1.56
Total: $12.99
----------
对比 IB：
A roundtrip of 10 contracts for $5/contract would have
a total cost of $21.12 ($10.56 to open and $10.56 to close),
based on the following breakdown:
Cost to Open
Commission: $7.00 = ($0.70 x10)
Exchange fees: ~$2.50 ($0.49~0.85 per exchange; may routed to multiple
exchanges, assume 3)
Regulatory fees: $0.43 ($0.0431 x10)
Transaction fees: $0.11 ($0.0000218 x10 x100 x5)
FINRA TAF: $0.02 = ($0.002 x10)
OCC Clearing fees: $0.50 = ($0.05 x10)
Subtotal cost: ~$10.56
Cost to Close = Cost to Open ~= $10.56
Total: ~$20
----------
所以我觉得在 IB 做 options 不大划算，
特别是它那个“smart routed”，经常会 route 到好几个 exchange，
每个 exchange 都收一次费。
而 TastyWorks 则把 exchange fee 包括在 flat rate commission 里了。
而且 TastyWorks 在 close 的时候免 Commission，
其实也是鼓励你去close positions而不是让它们expire worthless。
自觉的 option seller 在实现了50% of max profit 的时候都应该去主动平仓，
这样能够大大增加赢钱概率。
