OptionsHouse has officially killed commission charges tied to closing short options contracts of $.10 or less. With OptionsHouse already being well-known for its fantastic options commissions structure and tools, the news is another nice plus-one in the bucket for customers.

From the press release:

The dime buyback will automatically start working each time a customer buys-to-close an option for 10 cents or less. For example, when a customer buys back a single option at 10 cents or less, the trade will be commission-free. If the customer placed a two-leg spread where one leg was a buyback for 10 cents or less, the commission is calculated like the other leg was a single option.

To take advantage of the Dime Buyback Program, there is no action required by the customer. Whenever a trade qualifies, the $0 commission will automatically be applied.

For Q&A on the new program, see this OptionsHouse blog post.