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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: somethingwicked who wrote (11498)	4/6/1999 4:01:00 PM
From: Jon Tara	Read Replies (2) \| Respond to of 16892

All: recommendations for option trading? When I switched to Datek, I closed an account at a firm that (like almost all firms, other than Datek...) offered option trading. I was sucked-in to Datek's promise that option trading was coming "soon". That was more than 2 years ago. It's obvious that option trading is NEVER coming to Datek. I'd appreciate recommendations of brokers that offer option trading, can do it on-line or by phone (I want be be able to reach a live broker at times, especially for trades that can't be entered online - such as spreads and covered calls entered at a net price.) In order of priority, I am looking for: 1. Reliable execution 2. Knowledge about options. I don't want to have to educate them. (It took me days to educate Jack White & Co. about margin requirements for writing covered deep in-the-money calls. They ultimately aggreed with me, but why fight for days to get them to realize something their ROP should have known off the top of his head?) 3. On-line entry of at least simple orders 4. Ability to reach a broker by phone (meaning: they actually answer the phone) 5. Reasonable commissions (don't have to be the cheapest, just reasonable). In particular, I am interested in trading some higher-value options (around $10) and a commission schedule that is based on option price will likely be prohibitive. I really like Lafferty, but their commissions are out of this world on high-value options. ($125 minimum on up to 10 contracts of $10 options, a more reasonable $50 on up to 10 contracts of $1 options.)