Option Trading Commissions

Updated Sunday, October 23, 2011

To get free trades, free cash and other great deals
visit our Discounts and Special Offers page

Looking for the broker with the best options trading commissions? Here is your complete guide. You can use either the options trading commission tool or view all results in the tables below.

Options Trading Commission Tool
Enter an example option trade to generate the expected commission for each broker:

# of contracts         Close out position by trade, exercise or expire?

Note: Option regulatory fees (ORFs), trading activity fees (TAFs) and special discounts afforded to investors with high nominal account values are not taken into account by this tool. We do not guarantee the accuracy of the results shown henceforth.

Option Trading Commissions
Click on the broker name links to go to each broker's main review page.  Option regulatory fees (ORFs) of $0.008-0.0225/contract and trading activity fees (TAFs) of similarly small amounts are also charged by most brokers in addition to what is detailed below. Click on the red links in the far right column to receive special discount offers.

BrokerOption CommissionsSpecial Offers and Notes
E*TRADE$9.99 + $0.75/contract$7.99 when executing 150+ trades/quarter
eOption$3.00 + $0.10/contractOption rates apply to each side of spread orders. Option strategies involve multiple purchases; therefore your transaction costs may be significant for option strategy trades.
Fidelity$7.95 + $0.75/contractMulti-Leg Option orders are charged only on base commission, plus a per contract charge for the total number of contracts executed in the trade
Firstrade$6.95 + $0.75/contractGet 250 commission-free equity trades, up to $100 transfer fee rebate and $250 cash rebate at Firstrade.com.

Two-legged complex option orders are charged a single commission but contract fees are charged on each leg.
Interactive Brokers$0.00 + $0.70/contractNorth American trading fees are $0.70/contract with a minimum commission of $1. Trade 10,001 - 50,000 contracts a month and reduce to $0.50/contract and lower for greater volumes. Different fees apply for exchange outside of NA or different order routing options. Click here for further details. Minimum $10 in commissions per month for all account trading activities, so charges will be applied if that level is not met
Just2Trade$2.50 + $0.50/contract
Merrill Edge$6.95 + $0.75/contract
OptionsHouse$8.50 + $0.15/contractGet 100 Commission-Free Trades at OptionsHouse.com

Separate pricing plan available which is $1/contract up to 5 contracts per trade

Separate spreads pricing plan: $1/contract up to 10 contracts, otherwise $12.50 + $0.15/contract.

Trade up to 4,000 contracts per trade; trades in excess of this require multiple order tickets and will be billed as separate orders. Flat commissions may not apply outside certain risk parameters.
optionsXpress$0.00 + $1.25/contractLearn how you can get $100 when you open up a new optionsXpress account and be in the money from the start.

Minimum $12.95 commission per order.
Schwab$8.95 + $0.75/contractTwo-legged online option orders such as spreads, straddles, combos and rollouts are charged only one $8.95 base commission, plus per contract fees for the total number of option contracts. Complex option orders involving both an equity and an option leg, including Buy/Writes or Write/Unwinds are charged per contract fees for the option leg, plus commissions for the equity leg subject to the client's current commission schedule. There is no base commission for the option leg.
Scottrade$7.00 + $1.25/contract
ShareBuilder$9.95 + $1.25/contract$7.95 + $0.75/contract for Advantage Account holders
SogoTrade$5.00 + $0.50/contract
TD Ameritrade$9.99 + $0.75/contract
TradeKing$4.95 + $0.65/contractGet $100 when you open a TradeKing account today!

Switch to TradeKing and get up to $150 in transfer fees reimbursed

For 8+ contracts, commissions are automatically adjusted to $8.95 + $0.15/contract

Multi-leg orders, such as straddles and condors, pay only one base charge for the entire trade

Short options values at $0.05 or less can be closed out free of charge. This does not apply to multi-leg orders.
Vanguard$30.00 + $1.50/contract$8 + $1.50 per contract for account balances $1m+
Wells Fargo Advisors$9.95 + $1.00/contract
Zecco$4.95 + $0.65/contract

Option Exercise and Assignment Commissions

BrokerExercise / Assignment CommissionsSpecial Offers and Notes
E*TRADE$19.99 + $0.00/contract
eOption$9.00 + $0.00/contract
Fidelity$7.95 + $0.75/contractSelling shares obtained through exercising an option: no charge. Maximum charge: 5% of principal.
Firstrade$16.95 + $0.00/contractTwo-legged complex option orders are charged a single commission but contract fees are charged on each leg
Interactive Brokers$0.00 + $0.00/contractCommissions are not charged for US exercise and assignment
Just2Trade$20.00 + $0.00/contract
Merrill Edge$6.95 + $0.75/contract
OptionsHouse$5.00 + $0.00/contract
optionsXpress$12.95 + $0.00/contract
Schwab$8.95 + $0.75/contract
Scottrade$17.00 + $0.00/contract
ShareBuilder$40.00 + $0.00/contract$20 for exercise and $20 for assignment
SogoTrade$15.00 + $0.00/contract
TD Ameritrade$19.99 + $0.00/contract
TradeKing$14.90 + $0.00/contract$9.95 for exercise and $4.95 for assignment
Vanguard$30.00 + $0.00/contractAdditional surcharge of $0.015/share; $8 + $0.015 per-share for account balances $1m+
Wells Fargo Advisors$25.00 + $0.00/contract
Zecco$4.95 + $0.00/contract

Related Articles:
Commissions & Fees
Stock Trading Commissions
Mutual Fund Fees
Account Transfer Fees
Margin Rates
Account Maintenance Fees
Commissions Free ETFs