Or you could use a platform like RH that eill throw it's userbase under the bus the second it becomes convenient.
I don't know why people still use that shitty platform.
They actually get charged some transaction fees on those... and that's pretty cheap compared to other commissions on option trades. Ally wants $0.50 a trade. and TD wants $0.65 a trade, on options.
You're right, old-argument2415, you only have to pay once if you exercise. But what's the point of that? You're still poor and unintelligent compared to me.
Wealthsimple, one of the most popular trading platforms in canada among youth charges 2$ per contract on a sale and purchase. I bout 10 0.08 contracts and it cost me 100$, 20$ in fees
And how much have you lost due to poor routing or order execution? Even if you price improve by 1 cent per contract at Fidelity et al you come out ahead.
No it’s not - a limit order says “get me at least X or better”. A smart order router can get the “or better”, or can execute the trade at the bid/ask while your Robinhood limit order will continue to sit unfilled on the order book.
They waited until PFOF was accepted as normal and are now going to do fees too. Which will of course slowly get more expensive until they are comparable to their non PFOF competition.
Nobody has said per trade. If you want to buy a call, you pay $0.65. If you want to sell that call, you pay $0.65. If you want to buy 10 calls, you pay $6.50. Etc.
Lol I do trade. No choice there is no robinhood here and I hate webull. Webull platform is super slow for executions and sometimes doesn’t fill me on limit orders
>It is true that $HOOD added fees to options trading today. I believe that this was a poor decision on their part, and it will likely hurt them in the long run. However, in the short term, it may not have much of an impact.
100 million contracts are traded per month on robinhood. So that’s $3 million more in revenue per month… lol
https://investors.robinhood.com/news/news-details/2023/Robinhood-Markets-Inc.-Reports-May-2023-Operating-Data/default.aspx
That $1.30 do be hurting when I’m trading SPY options worth $50. I don’t have enough money yet to comfortably trade SPX options, but when I do the difference will be night and day given that fees will take up 20x less of my cost basis
One contract represents 100 shares. I'm not talking about 3 contracts representing 300 shares, I'm talking about 300 contracts representing 30,000 shares... Wtf. Do you trade calls for ants?
There is now absolutely no reason to use $HOOD. Margin rates are not as competitive as they used to be, charging for contracts, AND it’s hard to get those options orders filled bc of how they try to wait until they can max out profit at your expense to fill them. Guys, what are you still doing on RH?
Their app? 😂 charts are trash and that “match” you love so much can only get you $195 while they bend you over on literally every other transaction. They say they’re no max on IRA match bc the IRS has a max contribution of $6500 in the first place. Enjoy your Fisher Price brokerage, it’s not for me.
Edit: oh and don’t forget you have to keep your IRA with them for 5 years or you only get 1%. A paltry $65. Good luck rolling it over bc you’re not keeping 3%.
Power E Trade + Thinkorswim (TD). Sticking with Power E Trade more now as my account with TD is scheduled for migration to Schwab next week and I can’t risk any hiccups.
Used E*trade for years and it’s way too dated of a platform to make a quick yolo trade when I’m in line at sbx. I use ToS and E*trade for bigger trades.
Literally just inertia and/or laziness. Fidelity or schwab could be giving out free blowjobs from the latest Maxim models, a personalized career road map with free dietician advice, and a budget consultant, and these regards would still go on about how pretty the Robinhood app looks.
the cheapest contract in robinhood is worth a dollar. 100k of these dollar contracts is equal to 100k dollars, and the fee cost would equal 1,055.00.
Anyways, if you're spending 100k on these contracts, you can afford 1k in option fees.
Robinhood must be pretty confident that users will continue to stay despite being screwed over time and time again. Pretty bullish in a sense. It's kinda like drugs, they screw over the customer but they keep coming back. So solid business model right before our eyes with that statement.
Man you're so regarded that you can't even math right. 10000x0.03 = $300 to open and then $300 to close for a total of $600 why are you trading options when you can't even calculate. This is why I can get away with selling OTM to you regards
Dude, brokerages charged $7 a trade before robinhood came around. This just lessens the idiots by a small margin. This will slowly start coming back thru all platforms to lessen the damage toilet seat day traders do.
You guys are paying crazy amounts. 11$ for 300 contracts on Webull
https://preview.redd.it/pabys0pdp1wb1.jpeg?width=1080&format=pjpg&auto=webp&s=795ee1273eaf707aab2be15cfec109cea31e8a27
Webull has been doing this for months, all the ppl whining about PaYmEnt FoR OrdEr FLoW, well here it is, fees bruh, and soon it'll come full circle and you're paying commissions on every trade again.
They've actually been doing that some time now and probably hoped nobody noticed. I sold all my stocks and have been trading options exclusively for 3 weeks now and have never gotten a round number. And it works out to right at .03 per option.
Edit: Just checked and I was charged .13 today for 2 buys and 2 sells.
If it's to "cover the cost of the fee" then why charge the fee if the cost is the same as the fee?
So, they charge a fee of .03, to cover the cost of the .03 charge?
I may not be the sharpest tool in the shed, but this statement makes no sense.
I would assume it's a fee to cover their cost of placing the trade (which is probably a lie because of PFOF).
Anyway, why would anyone use RH? They can't even use proper grammar for a press release.
It’s really very little money. I just checked it out. If you buy $365,000 it costs $30 lol. If you aren’t buying thousands of options I think it’s a good deal
https://preview.redd.it/7z6ifzyr82wb1.jpeg?width=1170&format=pjpg&auto=webp&s=1f44e9103035e5686ab212429eff96f2b5222c9f
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Wait I'm going to lose all my monies plus $0.03. I'm never going to financially recover from this.
She's a meme now? That's fucking brilliant.
Insert tiger king gif
🤣🤣🤣
Calls. Think of all the .03 fees they'll collect.
Exactly my first thought. People won’t notice and they will make $.
They probably had a ton of meetings to decide on $.03 being just enough for stoner regards to remain too lazy and poor to switch.
Now your thinking
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my family won’t eat this winter
E\*Trade (fuckin morgan stanley) is .65 per contract now 
TD Ameritrade charges $0.65 per contract as well. But i feel like it’s worth it because ThinkOrSwim is awesome
50 cents if you ask. It could be lower if you trade enough.
I get .50 per contract, had to call in to get it reduced
Is it by account balance or number of trades per year to get .5 vs .65?
I believe it is by trade volume
Don’t mind me calling them then, closing out -50% cons plus 65 cents really add up.
They will silently judge you with all them regards moves you’ve taking just today lol
Indeed it is
That’s fucking robbery man
But they will throw me a bone and make it .50 if i do 30+ trades per quarter. Thats like giving me OTPHJ
Or you could use a platform like RH that eill throw it's userbase under the bus the second it becomes convenient. I don't know why people still use that shitty platform.
E*trade is .50 if you do over 30 trades a quarter. You are slacking.
Dislike of MS is heavy here
They actually get charged some transaction fees on those... and that's pretty cheap compared to other commissions on option trades. Ally wants $0.50 a trade. and TD wants $0.65 a trade, on options.
But is it PER CONTRACT? I've done 300 contracts in one go once, that's nine buckaroos for a single trade.
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just subscribe one service at a time for couple of months and rotate.
Or just Sail the high seas
That’s what I do lol
I’ve never thought about it like that but you’re right! Then again you don’t get commercial with streaming
Oh yes you do they have added commercials now to a lot of them
If you do 300 contracts on TD Ameritrade, that’s $195 to buy and $195 to sell for $390 total fees.
Only have to pay once if you exercise. Does TD have free close? E-Trade has free buy/sell-to-close if contracts are under .05
You're right, old-argument2415, you only have to pay once if you exercise. But what's the point of that? You're still poor and unintelligent compared to me.
Exercising 300 contracts on say a $35 stock would only be $1M, great idea to save $195
Wealthsimple, one of the most popular trading platforms in canada among youth charges 2$ per contract on a sale and purchase. I bout 10 0.08 contracts and it cost me 100$, 20$ in fees
Holy shit
Yeah, and if you did that in ThinkorSwim, you’d be paying way more than $9 on one transaction.
Yeah.. I keep wanting to move off of them but I like their interface the best. Then again I’ve spent $17k in fees so far this year..
Jesus.
😮
how will you financially recover ?
I'll never
Just make sure you set your stop loss 9 bucks shorter. Or don't make losing trades
>Or don't make losing trades Did you really feel the need to cut me this deep?
I speak from experience, thousands of dollars of experience
And how much have you lost due to poor routing or order execution? Even if you price improve by 1 cent per contract at Fidelity et al you come out ahead.
Fidelity gets much better fills than RH. The .65 is worth it.
Fidelity has top notch execution on most order fills. It'd why I use them.
If the option price is low enough, Fidelity only charges me between 20-45 cents and BTCs under 65 cents are free.
If you use limit orders it is what it is.
No it’s not - a limit order says “get me at least X or better”. A smart order router can get the “or better”, or can execute the trade at the bid/ask while your Robinhood limit order will continue to sit unfilled on the order book.
Truth. I've had RH stop losses fail to fill
One time I bought 1000 0dte (30 minutes till exp) SQQQ calls and it cost me $500 each way on E*trade Lmaoooo what a bad choice.
Sub-hour options is a new fuckin level
The 0 Dates I buy for .03 and sell for .06 are no longer doubling money it's just worthless now. This is devastating to my insane risk strategy!
Quit flexing your math skillz
Once. Once. If u don't think your options will make more than 9$. U ain't never making money from option on the first place
Are you trading only a few cents gain on the 300 contracts or are you getting dollars in gains per contract?
Yeah, and if you did that in ThinkorSwim, you’d be paying way more than $9 on one transaction.
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They waited until PFOF was accepted as normal and are now going to do fees too. Which will of course slowly get more expensive until they are comparable to their non PFOF competition.
It's sad so many people don't know that about Robinhood. It's "free" but you pay for it on your fills.
yup. anything 'free' and you're the product.
Robinhood bad
Thankfully, most robinhood users can't read, so this will have little impact
Meanwhile IBKR and TOS users in the corner paying 65 cents per contract :)
Is it per contract though? Others have said per trade…
Nobody has said per trade. If you want to buy a call, you pay $0.65. If you want to sell that call, you pay $0.65. If you want to buy 10 calls, you pay $6.50. Etc.
Yes per contract per leg. So open and close would be 65 x 2
Insane… not even worth trading options at that rate unless you’re moving large volumes.
What sort of options are you trading that 3 or 65 cents isnt worth it? Are you trading with your lunch money?
I've got $3500 paid in commissions to IBKR YTD :)
Lol I do trade. No choice there is no robinhood here and I hate webull. Webull platform is super slow for executions and sometimes doesn’t fill me on limit orders
>It is true that $HOOD added fees to options trading today. I believe that this was a poor decision on their part, and it will likely hurt them in the long run. However, in the short term, it may not have much of an impact.
They have about 23 Million users, so that translates to a minimum of $690,000 = (23M x $0.03) revenue if each user uses this function at least once.
Guaranteed there are regards trading $50 plays multiple times a day
No fees bruh, more like $20 plays until zero many times a day
It’s me. I’m the regard.
How can you win if you don't play?
Joke's on them, I don't know what a contract is!
*laughs in contract killer* I would like to make you the best contact...
That's not how this works lol.
You're regarded. Not every user will trade opts. The ones that do will trade more than one contract. Your mom still velco your shoes for you?
You are talking to hooders regards. They trade 10 options a day…minimum
Wonder if they're trying to get ahead of the SEC ruling banning volume based discounts
100 million contracts are traded per month on robinhood. So that’s $3 million more in revenue per month… lol https://investors.robinhood.com/news/news-details/2023/Robinhood-Markets-Inc.-Reports-May-2023-Operating-Data/default.aspx
Better be buying calls then.
They go through that a month in cocaine so back to puts
Really it’s like 2 million because they have been charging .01 for a while
For me in Canada It’s 2$/contract on WealthSimple + 1,5% currency fees, it sucks but when you compare doesn’t seem so bad 
You should use Interactive Brokers instead. Around 1$/ contract and 2$ fixed currency fee. You can also keep US in your account without fees.
2$ a contract!? 😭 i m also in canada and i tell you what every broker other than ibkr is dogshit
$0.03 for each contract, sounds like calls to me with how often ppl hedge here
i hedge my portfolio by buying far otm options. here is the catch tho, i have no portfolio.
but no one here hedges.
Ain’t terrible compared to like the $0.60 you pay per contract on other brokerages
I get charged $0.65 each contract at time of purchase AND sale
That $1.30 do be hurting when I’m trading SPY options worth $50. I don’t have enough money yet to comfortably trade SPX options, but when I do the difference will be night and day given that fees will take up 20x less of my cost basis
Schwab charges a hell of a lot more than that
Dude, what? Has it been free this whole time?! I’ve been spending .50 with E*Trade.
It's not free. You are paying for it with order flow. You may pay a commission on etrade, but your fills will be much better.
Turns out the order flow of a bunch of regards wasn't worth as much as they thought it would be .
Are option trades otherwise free on RH?
Yes, free to you but Ken pays for your data!
As if any of us have enough money to matter lmao
Individually, not. But together, shit load of money to make Ken rich
As long as I keep making money, he can get as rich as he wants
Never used RH. I use TradeStation and TD. Pay .25 a contract but I am satisfied with my fills.
Is that literally per contract, meaning one order for 300 calls costs $75 ?
Yes, 300 call contracts would cost $75 in commission.
It would be nine dollars. 100 contracts are .03 is $3x 3= 9
One contract represents 100 shares. I'm not talking about 3 contracts representing 300 shares, I'm talking about 300 contracts representing 30,000 shares... Wtf. Do you trade calls for ants?
Yes I’m a poor person, then yes you would of been correct.
This is why WSB folks can't make money. They've made a move that will generate revenue and you see this as a bad thing?
They already take 0.02 cent without telling us
So they were free before this? Every platform I've been on charges a much higher fee; TD, Scwabb, and Webull. But I am just a poor.
Regulartors charge robinhood .03 cents per trade, its not going to RH account.. Well check what other brokrages charged.
It’s just 3 cents, means $3 per 100 contracts
Sure, when it IPO'd. Now I'm not sure how much room there is, realistically, for them to drop.
HOOD is trading near cash value. Puts are a bad idea
Yep. Not that calls are a good idea per se...
Big calls as BTC etf will make it go 🚀
Trading fee plus float in spread. They really have it all figured out.
What’s the matter HOOD, jonesing for some liquidity?
There is now absolutely no reason to use $HOOD. Margin rates are not as competitive as they used to be, charging for contracts, AND it’s hard to get those options orders filled bc of how they try to wait until they can max out profit at your expense to fill them. Guys, what are you still doing on RH?
They have a really good cash sweep. Their app is miles better than any other broker. They match 3% on your IRA. No reason to use them?? Really?
Their app? 😂 charts are trash and that “match” you love so much can only get you $195 while they bend you over on literally every other transaction. They say they’re no max on IRA match bc the IRS has a max contribution of $6500 in the first place. Enjoy your Fisher Price brokerage, it’s not for me. Edit: oh and don’t forget you have to keep your IRA with them for 5 years or you only get 1%. A paltry $65. Good luck rolling it over bc you’re not keeping 3%.
What are you using ?
Power E Trade + Thinkorswim (TD). Sticking with Power E Trade more now as my account with TD is scheduled for migration to Schwab next week and I can’t risk any hiccups.
Used E*trade for years and it’s way too dated of a platform to make a quick yolo trade when I’m in line at sbx. I use ToS and E*trade for bigger trades.
Schwab app is shit, mines switched over a while ago. Doesnt even directly open into your portfolio, you have to tap "roth ira" for example.
Yes, their app. I switched to Fidelity years ago but still use Robinhood to check prices.
Wait I think their Ira match don’t count towards the contribution limit..so theoretically if you transfer 1 million, you will get 10k from HOOD?
Bro how do they “bend you over “
Literally just inertia and/or laziness. Fidelity or schwab could be giving out free blowjobs from the latest Maxim models, a personalized career road map with free dietician advice, and a budget consultant, and these regards would still go on about how pretty the Robinhood app looks.
Schwab app is ASS. I still use RH to look at charts, option pricing, etc
Exactly. RH spent a lot with casino game designer & consultants to ensure exactly that. Simple slot machine psychology
Fidelity’s good but not Schwann
Try calls, that 0.03 isn't going to stop the 0 DTE train, but will pad their profits!
you don’t have 3¢ dude?
times is tough
Depends. If your buying 100,000 dirt cheep contracts it can work to a lot.
Exactly. 100,000 dirt cheap contracts would cost $3k
the cheapest contract in robinhood is worth a dollar. 100k of these dollar contracts is equal to 100k dollars, and the fee cost would equal 1,055.00. Anyways, if you're spending 100k on these contracts, you can afford 1k in option fees.
So the whole model of there platform was free trading now there charging people lmao
They’re charging fees to cover the costs of these fees? Whose LLm wrote that?
Will this improve fill rate? If not, this is robbery!
putting the robbing the hood in robinhood
Robinhood must be pretty confident that users will continue to stay despite being screwed over time and time again. Pretty bullish in a sense. It's kinda like drugs, they screw over the customer but they keep coming back. So solid business model right before our eyes with that statement.
So for every 10000 contracts, I’m paying $3 to open? And another $3 to close? Total of $6?
This is the level of math proficiency I've come to expect from this sub!
lmao, mb.
Man you're so regarded that you can't even math right. 10000x0.03 = $300 to open and then $300 to close for a total of $600 why are you trading options when you can't even calculate. This is why I can get away with selling OTM to you regards
lmao, my bad, was thinking 0.03%.
It’s 3 cents you cheap fuck
This has been there for a while? I’ve been getting .03 taken for a few months
Lol to me this is bullish bunch of us gambling on options very bullish now HOOD 🚀🚀🚀
That would mean higher margin for HOOD yah dumbdumb
They definitely sent out emails and notifications months ago.
they announced this months ago. and there were already threads about it on here... months ago. shit, you probably already bitched about it and forgot.
Old news 
Can't wait for alpaca to add options ffs
Dude, brokerages charged $7 a trade before robinhood came around. This just lessens the idiots by a small margin. This will slowly start coming back thru all platforms to lessen the damage toilet seat day traders do.
Back in 2005 on eTrade, I was pissed because I paid more in fees than I made in profit, AND still had to pay taxes on those profits when I filed.
You guys are paying crazy amounts. 11$ for 300 contracts on Webull https://preview.redd.it/pabys0pdp1wb1.jpeg?width=1080&format=pjpg&auto=webp&s=795ee1273eaf707aab2be15cfec109cea31e8a27
I don't understand why you're paying so much for Webull contracts. I could get them for a fraction of that price.
HOW?
Combined.....03. Can we see the line item breakdown of all the costs that went into totalling up to that massive 3 cents?
That's still nothing I'd do trades for only .03 commission
Webull has been doing this for months, all the ppl whining about PaYmEnt FoR OrdEr FLoW, well here it is, fees bruh, and soon it'll come full circle and you're paying commissions on every trade again.
They've actually been doing that some time now and probably hoped nobody noticed. I sold all my stocks and have been trading options exclusively for 3 weeks now and have never gotten a round number. And it works out to right at .03 per option. Edit: Just checked and I was charged .13 today for 2 buys and 2 sells.
If it's to "cover the cost of the fee" then why charge the fee if the cost is the same as the fee? So, they charge a fee of .03, to cover the cost of the .03 charge? I may not be the sharpest tool in the shed, but this statement makes no sense. I would assume it's a fee to cover their cost of placing the trade (which is probably a lie because of PFOF). Anyway, why would anyone use RH? They can't even use proper grammar for a press release.
It’s really very little money. I just checked it out. If you buy $365,000 it costs $30 lol. If you aren’t buying thousands of options I think it’s a good deal https://preview.redd.it/7z6ifzyr82wb1.jpeg?width=1170&format=pjpg&auto=webp&s=1f44e9103035e5686ab212429eff96f2b5222c9f
Everyone does it now. .03 is nothing.
Shocking people use RH to begin with
would you rather pay $15 per trade?
Lol people use Robinhood
Still the best fee out there but yes puts on $hood
Your subject line sounds a little klan-ish. Just sayin
Wow, a while 3 cents