Sections

Commission Rates

Stock: \$5.00 to open

Options: \$1.00/contract to open, capped at \$10 per leg.

Stocks & Options Closing Commission: \$0

Futures: \$1.25/contract to open, \$1.25 to close

Options on Futures: \$2.50/contract to open, \$0 to close

Fee Summary

Stock Buys (Including Call Exercises & Put Assignments)

• Clearing Fee: \$0.0008/share
• For example, if you bought 1,000 shares, the clearing fee would be \$0.80 (0.0008 x 1,000).

Stock Sells (Including Put Exercises & Call Assignments)

• Clearing Fee: \$0.0008 / share
• FINRA TAF: \$0.000119 / share (per-transaction cap of \$5.95)
• SEC Fee: \$0.000013 x number of shares x trade price

For example, if you sold 1,000 shares of stock for \$55/share:

• Clearing Fee: \$0.80 (\$0.0008 x 1,000)
• FINRA TAF: \$0.12 (\$0.000119 x 1,000)
• SEC Fee: \$0.72 (\$0.000013 x 1,000 x \$55)

Stock Round Trip Example (Including Commissions and Fees)

A round trip of 1,000 shares of stock at \$55 would have a total cost of \$7.44 (\$5.80 to open and \$1.64 to close), based on the following breakdown:

Cost to Open

• Commission: \$5.00
• Clearing Fee: \$0.80
• Total Cost: \$5.80

Cost to Close

• Commission: \$0
• Clearing Fee: \$0.80
• FINRA TAF: \$0.12
• SEC Fee: \$0.72
• Total Cost: \$1.64

• Clearing Fee: \$0.10/contract
• ORF Fee: \$0.0388/contract

For example, if you bought 3 contracts for \$5/contract:

• Clearing Fee: \$0.30 (\$0.10 x 3)
• ORF Fee: \$0.12 (\$0.0388 x 3)

Option Sells

• Clearing Fee: \$0.10 / contract
• FINRA TAF: \$0.002 / contract
• SEC Fee*: \$0.000013 x number of contracts x 100 x trade price
• ORF Fee: \$0.0388 / contract

*The option multiplier is typically 100.  If the option contract has a different multiplier, you would use that instead of 100.

For example, if you sold 3 contracts for \$5/contract:

• Clearing Fee: \$0.30 (\$0.10 x 3)
• FINRA TAF: \$0.01 (\$0.002 x 3)
• SEC Fee: \$0.02 (\$0.000013 x 3 x 100 x \$5)
• ORF Fee: \$0.12 (\$0.0388 x 3)

Option Round Trip Example (Including Commissions and Fees)

A round trip of 3 contracts would have a total cost of \$3.87 (\$3.42 to open and \$0.45 to close), based on the following breakdown:

Cost to Open

• Commission: \$3.00
• Clearing Fee: \$0.30
• ORF Fee: \$0.12
• Total Cost: \$3.42

Cost to Close

• Commission: \$0
• Clearing Fee: \$0.30
• FINRA TAF: \$0.01
• SEC Fee: \$0.02
• ORF Fee: \$0.12
• Total Cost: \$0.45

*When trading SPX, NDX, VIX, and etc. then a Single-Listed Exchange Proprietary Index Options Fees will apply on a per contract basis when Opening or Closing a position. Click here to view our commissions and fees page.

Capped Options Commission Example

Options commissions are capped at \$10/leg to open, and of course, it’s still \$0 to close. That means commission costs are the same whether you trading a 10-lot vertical or any quantity over 10, such as a 100-lot vertical, because of the cap. Clearing (\$0.10/contract) and regulatory fees (total will vary) still apply on both directions. The total regulatory fee amount will vary since the SEC Fee is dependent on the sale price, as spelled out in the “Options Sells” section above.

Single Leg Options Trade to Open:

• 10-lot: \$10 commission + \$1 clearing + regulatory fees
• 100-lot: \$10 commission + \$10 clearing + regulatory fees

Single Leg Options Trade to Close:

• 10-lot: \$0 commission + \$1 clearing + regulatory fees
• 100-lot: \$0 commission + \$10 clearing + regulatory fees

Vertical (2-legs) Options Trade to Open:

• 10-lot: \$20 commission + \$2 clearing + regulatory fees
• 100-lot: \$20 commission + \$20 clearing + regulatory fees

• 10-lot: \$0 commission + \$2 clearing + regulatory fees
• 100-lot: \$0 commission + \$20 clearing + regulatory fees

Butterfly (3-legs) Options Trade to Open:

• 10-lot: \$30 commission + \$3 clearing + regulatory fees
• 100-lot: \$30 commission + \$30 clearing + regulatory fees

• 10-lot: \$0 commission + \$3 clearing + regulatory fees
• 100-lot: \$0 commission + \$30 clearing + regulatory fees

Iron Condor (4-legs) Options Trade to Open:

• 10-lot: \$40 commission + \$4 clearing + regulatory fees
• 100-lot: \$40 commission + \$40 clearing + regulatory fees

Iron Condor Options Trade to Close:

• 10-lot: \$0 commission + \$4 clearing + regulatory fees
• 100-lot: \$0 commission + \$40 clearing + regulatory fees

Futures

Cost to Open

• Commission: \$1.25
• Clearing Fee: \$0.30
• Regulatory (Reg) Fee: vary by contract and includes \$0.02 NFA fee per contract.

Cost to Close

• Commission: \$1.25
• Clearing Fee: \$0.30
• Regulatory (Reg) Fee: vary by contract and includes \$0.02 NFA fee per contract.

Options on Futures

Cost to Open

• Commission: \$2.50 / contract
• Clearing Fee: \$0.30 / contract
• NFA Fee: \$0.02
• Exchange fees: varies per contract

Cost to Close

• Commission: \$0
• Clearing Fee: \$0.30
• NFA Fee: \$0.02
• Exchange fees: varies per contract

Fee Definitions
Clearing Fee

This fee covers additional expenses that are related to clearing.

Exchange ORF (Options Regulatory Fee)

Options exchanges assess an Options Regulatory Fee (referred to as the "ORF Fee") on options transactions executed by its members that clear in the customer range at the Options Clearing Corporation ("OCC") regardless of the marketplace of execution.  The effective rate of the ORF fee is per contract with no minimum per trade.  Fee charges will be rounded to the nearest penny.  Please note, Exchange Fees are subject to change.

FINRA levies a Trading Activity Fee (TAF) for sales of covered equity securities that tastyworks passes through to you.  The FINRA TAF is currently \$0.000119 per share with a per-transaction cap of \$5.95.  For example, if you sell 1,000 shares of stock the fee would be the number of shares [1,000] multiplied by \$0.000119, which equals \$0.119.  The FINRA TAF for option sales is currently \$0.002 per contract.  For example, if you sell 100 options contracts, the fee would be the number of contracts [100] multiplied by \$0.002, which equals \$0.20.

NFA Fee

National Futures Association assessment fee for futures contracts is \$0.02 per side or \$0.04 per round-trip.

Regulatory (Reg) Fee

Combines the exchange fee as well as the National Futures Association (NFA) fee of \$0.01.

SEC Regulatory Fee

When you sell a stock or stock options, a regulatory fee is included which appears on your confirmation.  tastyworks is required to pay this regulatory fee to the applicable regulatory agency based on the volume of securities sold.  The current rate for sales of equity securities is \$13 for every \$1,000,000 in sales.  tastyworks reserves the right to pass through any additional regulatory or exchange transaction fees.