Questions about commission fees
I am not approved to trade spreads or straddle on my TD account. However, I am allowed to buy puts, calls, and sell puts.
I noticed that I can technically buy straddle if I buy puts and calls separately. I want to know if I get approved to trade straddle/strange, does TD only charge commission fee once? Because right now, I have to pay $10 for buying calls and $10 for buying puts separately. Do you guys with approved level 3-4 option only need to pay fee once with straddle?
Another question is: Let's say that you are buying or selling 100 shares of AAPL at $100 limit order. If you are only assigned 40 shares, what about the other 60 pending order? If that 60 pending orders are not filled until like 3 hours later, will TD charge me twice commission fees? Also, what about selling 100 shares at $100 with the same scenario?
Thank you in advance :)
Step 1...go to Dough.com and create an account using your TDA credentials. It's free and they are connected so it's all secure.
Step 2...Call your LOCAL TDA rep and tell them you are doing the Dough/ Tastytrade thing and would like your fees reduced. They will knock it down to at least 7.50 per stock trade and a flat 1.50 per options contract with no ticket fee.
Step 3...on Dough.com go to the Doughjo link and watch all the videos and take all the quizzes. Once completed you will receive an electronic certificate that you submit to TDA to request tier 3 status...they will give you at least level 2 automatically and you should be able to do everything you need/can do from there. Once you have the certificate just email the Dough support for who you need to email at TDA to submit the certificate, then you request new Tier status.
You will no longer have the 9$ ticket fee when trading options and only be paying 1.50 per contract to open and/or close....plus with TDA it is always free of charge to close any short option position that fills for .05 or less.
If you have a bigger account and/or trade often you may be able to further negotiate your fees down at some point.
AN order stands until cancelled...no matter how many partial fills it takes to complete you will only be charged 1 fee. However if you cancel the order and then make a new one you will initiate another fee. Also you can do a "cancel/replace" to move your price and this shouldn't create a new fee....but double check that as I have been in arguments with their customer support over this. A "day" order will cancel at the end of the day...however a GTC order will stay in effect until canceled or filled. These all are the same whether buying/selling to open/close.
Wow thanks a lot for all these info. Btw, what does $1.50 per options contract with "no ticket fee" means? Is the fee referring to $9.99? Because right now, TDA charges $9.99 + $0.75 fee per contract. With Dough certificate, I only need to pay $1.50 per contract and no more $9.99 for each trade? As long as I buy less than 13 contracts in one trade (which is 13 x 1.5 = $19.50) , it is cheaper than TDA's commissions total of (9.99 + 0.75*13 = $19.7) ?
If that is the case... wow!! that is a such a good deal for me!! I only buy few contracts at a time and have to pay so much fees for it..
Thanks again. (just quoting u again in case you didn't see more of my questions in the above post)
iMachi said: ↑
Thanks again. (just quoting u again in case you didn't see more of my questions in the above post)
Looks like you already have the option fee down about as far as it will go....so with the Tastytrade discount you will only be paying .75 per contract. You don't need the Dough certificate to get the fee reduction. Just register with Dough and Tastytrade using your TDA username and password and call your LOCAL rep for TDA and tell them you are doing the Tastytrade thing and will need them to put through the fee reduction.
The Dough certificate will be what you use to get tier 2-3 permissioning so you can trade any option strategy your account size will allow.