Replies to post #17528 on Advanced Micro Devices Inc (AMD)

[HailMary]

Those commission rates at Schwab are very attractive. I don't think you could do better than that.

I just tried out CyberTrader's X2 software demo (free) which is mostly functional using day old data. The options section is exactly what I am looking for. They have what is called level 2 which shows the best bids and asks on each of the exchanges. This is not the same as level 2 equities, which is perhaps what Schwab is saying. You cannot see every bid and ask out there. Just the best from each exchange. From the demo, I can already see that I'll be saving .05 frequently. This is huge for me as I often deal in options in the .30-.50 range. The difference between 2 exchanges can be as much as .10. Also, you can simply click on the bid/ask you want to pair up with, and then click the buy/sell buttom. Very simple and fast. I think I'm sold. I don't know why I didn't do this sooner.

Unfortuneately the level 2 stuff is not available via the web, but you can still get directed trades on the web. This combined with my other level 1 option service will get me where I want to go. When I unload my AMD Jan 15 calls (soon I think), I'll be transfering money over to this place.

HailMary

[8-/]

Elmer, Turns out it takes 240 trades/year for directed trading from Fidelity. (I'm at under 1/2 that rate.)

If anyone knows of better commissions please advise.

Fidelity -- $8 commission rate is available for online equity orders under 1,000 shares (for large trade orders add $0.01 per share for every share over 1,000) and option orders (plus $1.50 per option contract for orders of 1-99 contracts or $1 per contract for orders of 100 or more).

Looks to me like at 100 contracts the price is $108. Call and ask if you do that much volume.