Quote:
Originally Posted by AltonKelsey
9 cent commission? Really?
I guess it might be possible if there was a rebate. Was that the case?
|
Yes.
Actually, I had the same question when I saw the commission, because I had never seen one quite that low before. I called them and was told it depends somewhat upon the exchange it was routed through (in this case PSE), but more importantly it's whether or not you are providing liquidity.
Since my bid for the option was under the market and the price came to me I was providing liquidity--hence the rebate. Otherwise, such as in the case of a market order, the commission would have been appx .85¢ or $1.90 total, $1.40 of which is IB's commission.
Here is a link to IB's commissions.
