Wells Fargo free trades

[Pete]

they are offering 100 free trades per year if you have 25k in combined balances with the bank....started yesterday

[squiffy]

I had about 83 total trades in 2006, certainly less than 100. So this offer might be good for me.

If you only have 25K. Then it's a problem because it sounds like you cannot trade with the 25K, but must leave it in a CD or deposit account at 5%.

And if you are always fully invested and if you could make 10% with that 25K, then by not being able to invest the 25K in stocks, you are losing the opportunity cost of making an extra 5% on that 25K or, $1250 a year.

But if you normally are not fully invested, it's a good offer.

I have about 290K in my non IRA account, and I am normally NOT fully invested. Most of my cash sits in a sweep money market account earning 4.4% or so most of the time.

So the Wells Fargo offer might work for me.

Only two problems. I have been doing more options trading. And it's not clear what Wells Fargo charges for options trades, compared to AMTD.

Also, Bank of America is supposedly rolling out a free trading offer. But it's not available yet in California.

I am not sure if they limit the number of free trades, or whether it will be unlimited. And I am not sure what BofA charges for options.

But this competition is certainly welcome. I would rather stay with AMTD, but hope they drop their trading costs.

Assuming I made 83 trades, then it cost me about $830 last year. Though I probably had more than that, as AMTD does not provide a summary of option trades for some strange reason.

[jba]

yeah BoA has free trades w/ 25k in combined balances with the bank.

[Pete]

sent you a PM squiffy....but to others out there. you dont have to keep any on deposit with WF for this offer as long as you maintain 25k on the brokerage side. you need to have their PMA checking acct open and thats it.

Options trades are $9.95 + $1 per contract