Uhg, E-trade buying OptionsHouse

[Fermion]

Just read today that E-trade is buying OptionsHouse. I have my trading account at OptionsHouse and a IRA at E-trade (that I was always too lazy to switch over to OptionsHouse). At OptionsHouse I was grandfathered in for $3 stock trades and very cheap option trades ($8.95 + $0.15 per contract or $5 for 5 contracts) At Etrade, when I rarely trade, it is $9.95 per stock trade and something like $8 + $1 per contract. Adds up when you trade hundreds of contracts. I am currently holding some 200 contracts on Gilead at OptionsHouse with a profit of several tens of thousands but I did not want to exercise them until next year. Drat. Anyone have a good line on a cheap options broker?

 

[catotx]

Years ago, Etrade acquired Brownco and Etrade grandfathered Brownco's fee structure. You might want to wait and see if this happens.

Otherwise, I know eoption.com has good options fees, $3 + $0.15/contract IIRC.