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Options Pricing - North America 

 Canada     Mexico     United States   

 

No "Base" or "Base Plus Commission" Fee Structure to trick you! 

We do not charge a "Base Fee" or use a "Base Plus Commission" fee structure! Our highest option commission prices start at USD 0.75 per contract and are even lower for higher volume traders! Although we show our minimum commission per transaction of USD 1.50 for transparency, it is simply a minimum and NOT in addition to the cost per contract! Many other firms charge a base fee and a per contract fee. That's not how we roll. You may notice that some firms and "review" sites only show the per contract fee in a side by side comparison with the base fee noted separately. In these cases, it may appear as if the total cost is the same or lower than other firms when making comparisons. You may also notice that these do not discuss Net Best Execution or Credits/Rebates available on executed orders. Don't get tricked by what looks like a lower commission only to potentially end up paying more for your entire trade! 

 

What is the benefit of unbundling option commissions?

Our option commissions are unbundled which means that we offer true transparency in pricing! We are not nickel and diming you; we are doing our best to break down the pricing and offer you the lowest overall cost possible. We charge the commission rates listed below and we also pass through any exchange, regulatory and/or transaction fees associated with your transaction (also listed below).

In addition to offering transparency in pricing and volume discounts our clients have the opportunity to participate when credits/rebates are available (for adding liquidity to the market).

 

United States - Option Commissions  

 
 
       Commissions      Minimum Per Order*

     US Options

     USD 0.75 per contract      USD 1.50
     
 
*Please Note:
We do not charge a "Base Fee" or a "Base Plus Commission" Fee Structure. Our minimum commission per transaction of USD 1.50 applies to all executed orders. 
 
Transaction and Exchange Fees are additional. These fees (as well as rebates) are passed directly back to you. Commissions, fees and rebates may be included together on your trade confirms under commissions. With the total transaction cost being included together, it may appear to as if you are paying more or less (due to rebates) in commissions than the actual commission that you are charged for your transactions. You are not being charged more for commissions! If you believe that you are being charged more for commissions than what we have posted below please call us immediately at 1-800-507-5223 or 1-919-719-7200. 
 
 
 
Example US Option Commission: 
 
             
 

Number of Contracts 

 

Commission Per Contract (USD)

 

Total Commission (Including Minimum per Order)

 
             
  1    $0.75    $1.50  
     $0.75    $1.50  
     $0.75    $2.25  
  5    $0.75    $3.75  
  10    $0.75    $7.50  
  25    $0.75    $18.75  
             
(Less than 10,000 Contracts per Month Exchange, Regulatory & Transaction Fees are not included in commissions Credits are not included in commissions however we do pass available credits on to you which will reduce your overall cost!)  
 
 
       Commissions      Minimum Per Order*

     US Options

     USD 0.60 per contract      USD 1.50
     
 
 
 
 
       Commissions      Minimum Per Order*

     US Options

     USD 0.30 per contract      USD 1.50
     
 
 
 
 
       Commissions      Minimum Per Order*

     US Options

     USD 0.15 per contract       USD 1.50
     
 
 
 

 

     US Flag  United States - Smart Routed: Example

 
 
 
       Commissions      Minimum Per Order*
     1 Contract @ USD 2 Premium      USD 0.75*      USD 1.50
     2 Contracts @ USD 5 Premium      USD 1.50

     USD 1.50

     

 

United States - Directed Orders

 
 

 

     US Flag  United States - Direct Routed: (Any number of contracts per month)

 
       Commissions      Minimum Per Order*
     All Premiums      USD 1.25 per contract      USD 1.50
     
     
 
     
 

US Flag  United States - Direct Routed:    Example

 

1 Contract = USD 1.25

 
     
 
     

 

 

United States - Exchange, Regulatory & Transaction Fees

 
 

 

     US Flag  United States - Exchange Fees

     AMEX      ISE
     BATS      MIAX
     BOX      NASDAQOM
     C2      NASDAQ OMX BX Options Exchange
     CBOE      NYSE Arca (PSE)
     GEMINI      PHLX
   

 

     US Flag  United States - Regulatory Fees

       Regulatory Fees Included in Total Commissions
     Options Regulatory Fee ("ORF") 2, 3      USD 0.04 per contract
   

 

     US Flag  United States - Transaction Fees

       Transaction Fees Included in Total Commissions
     Transaction Fees 4      USD 0.0000184* Value of Aggregate Sales
     FINRA Trading Activity Fee      USD 0.002 * Quantity Sold
   

 

     US Flag  United States - OCC Clearing Fees

     Tier      Fee
     Trades of 1 to 500 contracts      USD 0.05 per contract
     Trades of 501 to 1,000 contracts      USD 0.04 per contract
     Trades of 1,000 to 2,000 contracts      USD 0.03 per contract
     Trades of > 2,000 contracts      USD 55.00 per trade
   

 
 

Canada - Option Commissions 

 
 

 

     Canada Flag  Canada

    
       Commissions      Minimum Per Order
     All      CAD 1.50 per contract      CAD 1.50
     
     
 
     
 

  Canada Flag  Canada - Example

 

1 Contract = CAD 1.50 

 
     
 
     

 

Mexico - Option Commissions 

 

 

     Mexico Flag  Mexico

 
  Commissions      Minimum Per Order
     AMXL      MXN 25 per contract      MXN 25
     NAFTRAC      MXN 20 per contract      MXN 20
     QQQQ      MXN 30 per contract      MXN 30
     All Others      MXN 40 per contract      MXN 40
     

     
 
     
 

Mexico Flag  Mexico - Example

 

1 AMXL Contract = MXN 25      1 NAFTRAC Contract = MXN 20        1 QQQQ Contract = MXN 30

 

 
     
 
     

Fine Print

 
     
 

Please Note:

 

  • Commissions apply to all order types.

 

  • Commissions are not charged for US exercise and assignment.

 

  • Commissions are not charged for US cabinet buy-to-close trades.

 

  • PT considers exchange fees and/or rebates in determining where to route an order. Under certain circumstances, PT may route a marketable order to an exchange that is not currently posting the national best bid or offer (NBBO) but which may be willing to “step up” and execute the order at the NBBO, in order to avoid or reduce the exchange fee for executing the order. If this routing method is used, the client generally will pay a lower execution fee than client would have otherwise paid. In those cases where PT routes to an exchange that is not currently posting the NBBO in order to reduce or avoid exchange fees, PT will guarantee the client a fill at the NBBO at the time that PT routed the order.

 

  • Volume breaks are applied based on monthly cumulative trade volume summed across all options contracts at the time of the trade. Contract volumes are summed for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month.

 

If for example, you execute 12,000 US contracts in a month, your execution costs would be:

 

10,000 contracts at USD 0.75

 

2,000 contracts at USD 0.60

 

  • Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders.

 

For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders.

 

  • Orders minimums will be applied to the individual legs of a COMBO order.

  

 

1PT's Tiered commission models for options include a pass though of exchange, regulatory and transaction fees charged by the associated exchanges, regulatory bodies and our clearing firm. PT does not participate in these fees or rebates however our clearing firm may receive a portion of these fees. Costs passed on to clients in PT’s Tiered commission schedule may be greater than the costs paid by by our clearing firm to the relevant exchange, regulator, clearinghouse or third party. For example, our clearing firm may receive volume discounts that are not passed on to Place Trade or our clients. Likewise, rebates passed on to clients by PT may be less than the rebates that our clearing firm receives from the relevant market. For example, our clearing firm may receive enhanced rebate payments for exceeding volume thresholds on particular markets, but typically will not directly pass these enhancements to clients. Likewise our clearing firm does not pass to clients all of the rebates they may receive for liquidity taking orders, complex orders or orders executed in price improvement auctions. Traditional exchange payment for order flow programs result in payments to specialists or primary market makers, some portion of which may be paid on to our clearing firm. Our clearing firm does not pass these payments directly to clients. Place Trade does not receive any portion of these fees and passes the fees as well as the available rebates/credits directly on to you.

 

2The Options Regulatory Fee ("ORF") is charged by the following exchanges: AMEX, BATS, BOX, CBOE, CBOE2, ISE, GEMINI, MIAX, NOM, PCX, PHLX.

 

3Fee applies to executions which clear in the "Customer" account with OCC. This will generally include Public Customer and Professional Customer transactions.

 

4Transaction fees are only charged for sell orders.

 

 

 


*stocks directed to foreign markets may incur additional fees charged by the markets themselves.

*If our minimum commission per order is less than that of our clearing firm (Interactive Brokers), then you will be charged our clearing firm's price.

 

 
     

 

 
  Options involve risk and are not suitable for all investors. For more information; please read “Characteristics and Risks of Standardized Options” before investing in options. For a free copy call 1-800-50-PLACE or 1-919-719-7200 or visit the OCC. There is no guarantee of execution. Orders will be routed to US options exchanges. 

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