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Hi All!
Has anyone experienced the Interactive Brokers Options exchange fees in live trading? I sold a SPY iron condor, and for a premium of $1000 collected, I paid $646.15 in exchanged fees. I was appalled. I'm used to trading options in ThinkOrSwim and Robinhood so this was a shock. I see people working on options strategies though... so how are people getting around such absurd fees?
Thanks
Tim
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Laurent Crouzet
I suppose that those hefty fees came from rather high number of options?
If yes, a few remarks:
- You can choose from 2 fee calculcations on IB (Tiered and fixed). Tiered are much cheaper for commissions.
- Trading options on futures (ES) insead of SPY options generally reduces the fees (commissions and slippage bacause of the high liquidity), especially for monthly futures (3rd friday of the month)
- as for SPY options, you can somewhat lower fees (slippage) by sending spreads (directly, as QC does not support built-in spreads for now, unfortunately).
Timothy Comisky
The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.
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