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Originally Posted by PaceAdvantage
I'm purchasing 1 IWM call that is DEEP in the money.
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I misspoke. Deep in the money is what I meant.
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Profit was about $518 including commissions (commissions were a little under $50 roundtrip...like I said, commissions aren't very good on TDAmeritrade...$9.99 per trade plus $.75 per option. So in the above trade, each side costs $23.73...$9.99+$3 for the butterfly, and $9.99+$.75 for the IWM call).
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At IB (unless I'm reading things wrong) this trade would have cost around $7 to $10 round trip. But there is also this:
$10,000 minimum to open most accounts
$30 per month minimum commission requirement to avoid $10 monthly fee (rises to $20 monthly if account balance is less than $2,000)
$10 monthly for market data feed (waived if trade commissions are more than $30 per month)
If you only did the one trade per month, the total cost (including inactivity fees) would be around $30, which is still less than the $47 at Ameritrade.
However, something else to consider is that you have the Thinkorswim software, which I believe is free with TD Ameritrade. This might be worth quite a bit, seeing as how OptionVue in conjunction with IB (they are cross compatible) is $125 a month.
