Exploring NANOS Options Trading After Mini Options Discontinuation
Here’s a summary of the main problem and solutions discussed in the post:
- Main Problem: The user is trying to access mini options trading but is unable to find “SPY7” in the options trading window.
- Solution 1: Fidelity no longer offers mini options but provides NANOS trading, which are cash-settled options that allow for trading with less capital at risk.
- Solution 2: For fees associated with NANOS trades, it is confirmed that fees are similar to standard options, typically $0.65 per contract, plus the Option Regulatory Fee.
- Solution 3: Users can negotiate lower option trading fees by contacting Fidelity’s Trading team for discussion, although there is no guarantee for a lower fee.
Here’s the full thread
Hello! How do I access mini options trading? I tried searching for SPY7 in the options trading window but it said it could not be found. Thanks!
Thanks for reaching out to us on Discord!
While Fidelity no longer offers mini options, we do allow NANOS trading. NANOS are a one-multiplier, cash-settled option that allows for trading with less capital at risk. Feel free to check out the following resource to learn more about NANOS on Cboe’s website.
NANOS by Cboe: https://www.cboe.com/tradable_products/sp_500/nanos_index_options/
Please let us know if you have more questions we can answer; we’re always happy to help!
Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read the Characteristics and Risks of Standardized Options (http://www.optionsclearing.com/about/publications/character-risks.jsp). Supporting documentation for any claims, if applicable, will be furnished upon request.🟢
Could I recommend that Fidelity reconsider mini options for SPY (10x)
Of course, @User#0541. I’ll make sure your feedback is collected and shared appropriately. Thank you!
Last questions; for the fees: are the fees paid when selling open a NANOS option, and then paid again when buying closed? The fees appear to be $3 so that would be $6 total to sell open and buy closed? So all NANOS trades should aim for a profit above $6 to be worth it? Can I request these fees to be lowered?
Hey @User#0541, thanks for your follow-up questions!
Fees for trade NANOS options are the same as trading standard option contracts: typically $0.65 per contract, plus the Option Regulatory Fee. I included a link below for our commission schedule.
Commissions, Margin Rates, and Fees: https://www.fidelity.com/trading/commissions-margin-rates
It is possible to negotiate a lower option trading fee; however, several factors come into play here. We cannot review or guarantee that you could receive a lower fee. Please speak with our Trading team over the phone to go over this more.
You can find our contact information on our website: https://www.fidelity.com/customer-service/contact-us