Where To Trade/PLEASE HELP

I am considering opening a stock and stock option

account.I want to be able to trade from home without calling a trading desk.My clearing house said they would charge me 3 cents a share and

2 dollars per option order(not sure if that means per ticket or option).Is this a good price?Will

150k be enough for an active options account.This is important..and I know it depends on market conditions.What can I expect to see in the spreads betwen bid and ask?Can anybody recommend a firm where I can trade the options from home

electronically? Will I see the best bid and offer?

What if I want a 3 way spread or to make a market in one? Can I place contingent option orders..in otherwords I will only buy or sell an option based on a level of the underlying stock?Thanks

in advance...do your magic eLROY!

$1.75 per contract for options. 1 cent per share for stocks (or less for larger orders). IB shows best bid and offer.

Thanks Paul..that is at least a start!

I haven't really done stock-account stuff since I was a SOES Bandit. Well, that's not entirely true, but I can say that Tradestation Securities, or anybody affiliated with Refco who also does stock, I would assume offers a good service.


Timber Hill used to give the worst pit fills in Chicago, but so far as I know IB is the best full-spectrum/big-time/online/discount shop for electronic/direct-access stuff today. But there are a lot of platforms out there, from big firms and fly-by-nights, and they are pretty much all the same.


I know there are boutique shops, like Preferred Capital Markets (formerly Preferred Technology) and Benjamin and Jerrold, but what I do not know is how far electronic routing and matching in options has come since I was last on the floor - meaning how homogeneous their fills are.


Are these all pit fills, are there runners and paper brokers? If so, go with the boutiques.


Are there radio-screen brokers? If so, I guess it's Timber Hill or something, though who knows the fill-quality differential.


Or are these electronic matches? If so, just go with anyone with a fast server and a low rate, I guess.


I don't know. I don't trade stock options, and the only interest I have in them is because straight-stock margins for longer-term trades tie up way too much capital for a piker like me.


Then there is also stuff like the International Stock Exchange, and I don't know where it figures in. Didn't the options exchanges recently - like last year - implement some kind of a no-trade-through agreement, whereby you get the best price of every floor?


If so, that would simplify things.


$150,000.00 is more than enough to bet on stocks, using options. But if you are trying to pull cents out of spreads - to bet on options using options - and you're going to leave a naked call or put out there somewhere for five minutes, aren't you the one who pointed out they will absolutely handcuff you with margin requirements?


Since I have completely failed you, just get on Google and punch up options, or, better yet, post your question at:


http://groups.google.com/groups?hl=en&group=misc.invest.options


leroy

Benjamin & Jerrold:


http://www.stockoptions.com/services.htm


They cost more, but I can't find any evidence that IB does these contingent orders.


leroy

http://www.preferredtrade.com/optionrouting.html


http://www.netpicks.com/options.html


http://www.xpresstrade.com/freedemo/tradcen/conting/