When I first heard about OptionsHouse, it was from a friend who had just started trading options in college. He couldn’t stop talking about how easy it was to set up trades, test strategies, and pay far less in commissions than the bigger brokerage houses were charging at the time. That was over a decade ago, but even now, people still search for “Options House” because of the reputation it built among active traders.
In this article, I’ll take you through the full story of OptionsHouse: what it was, what tools it offered, why people loved (and sometimes hated) it, and what platforms today carry the same spirit. I’ll also add personal reflections, practical examples, and some beginner-friendly explanations of options trading so this doesn’t feel like a technical wall of jargon.
A Quick History of OptionsHouse
OptionsHouse was launched in 2005 as an online brokerage with a clear mission: make options trading affordable and approachable. At the time, many traders were paying around $9.95 or even $19.95 per trade. OptionsHouse disrupted the market by offering low-cost trades without cutting out the tools that serious options traders needed.
Over the years, the platform grew in popularity, particularly among younger investors and those who were active in options strategies like spreads, covered calls, and iron condors. In 2014, OptionsHouse merged with TradeMONSTER, creating a hybrid platform that combined affordability with advanced charting and analytics. Eventually, ETRADE acquired it, and in 2020, Morgan Stanley absorbed ETRADE.
So while OptionsHouse no longer exists as a standalone brand, its DNA lives on in the tools and commission structures you find in E*TRADE today.
Features and Tools of OptionsHouse
One of the reasons people loved OptionsHouse was its balance between simplicity and power.
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Options Chains and Strategy Tools: The platform gave traders a clean way to see calls, puts, strikes, and expirations without overwhelming clutter. Spreads and multi-leg trades were easy to set up.
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Paper Trading: A demo account allowed beginners to practice without risking real money. I personally think this is one of the most underrated features of any platform because it builds confidence.
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Customizable Dashboard: Traders could set up their workspace for quick access to watchlists, order entry, and charts.
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Mobile App: While basic compared to today’s standards, the OptionsHouse app was functional enough to monitor trades on the go.
I remember logging into the desktop platform once during a busy workday to check a covered call position. It wasn’t flashy, but everything I needed was just a few clicks away. That’s what made it powerful—no unnecessary noise, just clean execution.
Pricing and Commission Structure
Pricing was where OptionsHouse really shined.
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Stock trades cost $4.95 flat.
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Options trades cost $4.95 + $0.50 per contract.
This was groundbreaking in the early 2010s. Compare that to brokers charging double or triple those rates. For an options trader running multiple contracts, the savings added up quickly.
There were no sneaky maintenance fees or account inactivity penalties either, which made it friendly for part-time traders.
Today, of course, commission-free trading is the norm. Platforms like Robinhood forced nearly every broker to go zero-commission. But OptionsHouse deserves credit for being one of the early disruptors.
Ease of Use
For beginners, OptionsHouse struck a good balance. The interface wasn’t as sleek as Robinhood, but it wasn’t intimidating like Interactive Brokers either.
Opening an account was straightforward. Deposits, withdrawals, and linking bank accounts were simple. The only tricky part for true beginners was understanding options terminology, but that’s not the platform’s fault—that’s just the nature of options trading.
Pros and Cons of OptionsHouse
Pros:
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Low-cost trades (a pioneer in affordability)
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Clean options chains and tools
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Paper trading feature
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Solid execution speed
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Good for both beginners and intermediate traders
Cons:
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Limited research tools compared to premium brokers
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Mobile app lagged behind competitors
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Eventually lost its independent identity after acquisitions
Options Trading Strategies on OptionsHouse
If you were a trader in the 2010s, OptionsHouse was an ideal place to practice strategies like:
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Covered Calls: Selling calls against stock you already owned.
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Vertical Spreads: Setting up debit or credit spreads was easy to do.
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Iron Condors: Multi-leg strategies were less intimidating here because of the order-entry tools.
I remember testing a credit spread on OptionsHouse back in 2015. Even though I lost that trade, the process taught me how margin requirements and risk-reward ratios work. A platform that makes strategy entry clear can be the difference between learning and giving up.
Alternatives to OptionsHouse in 2025
Since OptionsHouse doesn’t exist anymore, what are your best bets today?
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E*TRADE (by Morgan Stanley) – Closest descendant of OptionsHouse. Solid options tools and competitive commissions.
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TD Ameritrade / Thinkorswim – Advanced charting and analytics, ideal for serious traders.
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Robinhood – Commission-free, easy for beginners, but limited in advanced options tools.
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Interactive Brokers – Best for global traders and professionals, though overwhelming for beginners.
Personal Reflections
Looking back, I think OptionsHouse had something special. It didn’t have the sleek branding of Robinhood or the institutional power of TD Ameritrade, but it carved out a loyal following. I personally liked how I could experiment with spreads without feeling crushed by high fees.
The lesson here is that a platform doesn’t need to be perfect—it just needs to be accessible and reliable. OptionsHouse proved that.
Who Should Use a Platform Like OptionsHouse?
Even though OptionsHouse itself is gone, the type of trader it appealed to still exists. If you:
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Care about low fees,
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Want straightforward tools,
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And are focused on options trading,
…then you’ll probably enjoy platforms like E*TRADE or Thinkorswim today.
Conclusion
OptionsHouse may be gone, but it left a lasting mark on the world of options trading. By combining affordability with solid tools, it made options strategies more accessible to everyday traders. If you’re searching for “Options House” today, your best bet is to look at its successor, E*TRADE, or explore alternatives like TD Ameritrade and Interactive Brokers.
The bottom line: OptionsHouse democratized options trading before commission-free apps were trendy. That legacy still matters.
FAQs
Q: Does OptionsHouse still exist?
A: No, it merged with E*TRADE, which is now owned by Morgan Stanley.
Q: Was OptionsHouse good for beginners?
A: Yes, it struck a balance between affordability and tools, though beginners still needed to learn options basics.
Q: How much did trades cost on OptionsHouse?
A: Stock trades were $4.95, and options were $4.95 + $0.50 per contract.
Q: What platform is closest to OptionsHouse today?
A: E*TRADE is the direct successor, while TD Ameritrade’s Thinkorswim offers a more advanced experience.
