We are pleased to be able to facilitate our customers' increased use of multi-leg strategies
CHICAGO (PRWEB) August 1, 2007
Under the new pricing, commissions for multi-leg trades with up to four legs will be $1.25 per contract, with a $12.95 minimum for customers who trade more than 35 times per quarter. The commission rate for customers who trade less frequently will be $1.50 per contract, with a $14.95 minimum.
"As retail investors become better educated, they are using more advanced option strategies designed to maximize the return and limit the risk in their portfolios," said David Kalt, Chief Executive Officer of optionsXpress. "As a result, spread trades such as straddles, butterflies and condors have grown quickly in popularity among optionsXpress customers."
Under the new pricing, spread commissions are reduced as much as 75%. On a five-contract, two-leg spread trade the new commission is $12.95 for active traders, compared to $25.90 under the old pricing. For a five-contract condor (a four-leg strategy), the new commission is $25.00 compared to $51.80 previously.
In addition to the improved spread pricing, customers will continue to benefit from optionsXpress' wide range of spread-centric tools and services, including Xspreads(R), which finds opportunities for price improvement, fully electronic execution for all spreads, a zero-fee policy for broker-assisted trades, world-class customer service and comprehensive online and event-based educational resources.
"We are pleased to be able to facilitate our customers' increased use of multi-leg strategies," added Kalt. "While our new 'One spread, one trade' approach to pricing is a relatively small change for our business, it is a significant enhancement for our customers, who can now make decisions based more on what strategy fits their investment objectives, and less on the commission."
About optionsXpress Holdings, Inc.
optionsXpress Holdings, Inc., a pioneer in equity options and futures trading, offers an innovative suite of online brokerage services for investor education, strategy evaluation and trade execution. optionsXpress Holdings subsidiaries include optionsXpress, Inc., a retail online brokerage specializing in options and futures, and brokersXpress, LLC, an online trading and reporting platform for independent investment professionals. Barron's named optionsXpress the number one online broker for four years in a row (2003 to 2006) and Kiplinger's Personal Finance named it the top discount broker in 2006.
More information can be found in the Investor Relations section of optionsXpress' website at http://www.optionsxpress.com/investor.
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