Dime Buyback Program
Close short options for 10¢ or less commission free
- Automatically starts when you buy-to-close for 10¢ or less
- Applies to the qualifying buyback legs on multi-leg spreads
- Manage your risk and free up buying power without paying commissions
options price threshold
on qualifying trades
Why cover your short options positions?
Sitting on short options positions can eat up your buying power and expose you to an unnecessary amount of market risk for very little potential reward.
Free up buying power to act on new market opportunities with higher reward potential
Sudden or dramatic moves on short positions may make you vulnerable
Clear out lingering short option positions in your portfolio
Pay no commissions or contract fees1 on single short options at 10¢ or less
What is the Dime Buyback Program?
Dime Buyback is an exclusive program offered by E*TRADE that waives the commissions and options contract fees1 when you buy-to-close short options priced at 10¢ or less. It encourages and enables you to manage risk like a professional.
Why does E*TRADE offer this program?
Closing short options is a risk management discipline that professional traders employ regularly, so we’ve made it commission free through the Dime Buyback Program.
Do I need to sign up?
No special enrollment is required. The program automatically kicks in each time you buy-to-close a short options position 10¢ or less.
Does the program apply to two-legged spreads?
Yes. If you placed a two-legged spread where one leg was a buyback for 10¢ or less, there will be no commissions charged on the eligible contracts. Your normal commission schedule will apply on the other leg as if it were a single-legged order.
How does it apply to a partial fill?
If your first execution is partially filled at 10¢ and the balance is filled at a higher price, your entire trade would be commission free.
Which order types are eligible?
The Dime Buyback Program works for all stock, ETF, and index options. It does not apply to futures options.
Our knowledge section has the information to get you up to speed and keep you there.2