get my mother into gambling?

[KTP]

What do you guys think of this?

As some of you know, I now trade at optionshouse, mostly because they have really cheap option trading (as low as $5 total for 5 contracts) and pretty cheap stock trades (3.95). When I signed up, they gave me 100 free trades plus $250 cash, although now I think the cash offer has expired (maybe?). The free trades are worth far more to me anyway.

Ok, now I was just messing around on the site and noticed the refer a friend button. It looks like anybody you refer who opens a $1000 account with them, you get either 30 free trades or $150 cash deposited in your account when they open theirs.

$150 on $1000 is a 15% return...totally safe. I am trying to think of any other FDIC insured investment right now that returns 15%....I can't.

So...open a $1000 account for my mom, and maybe my brothers, and then get them to gift it back to me after 6 months? Or I could just open it for my mother and trade it for her, then split the profits with her (she would pay 0% cap gains in her bracket). My eyes are starting to glaze over with the possibilities...

[Slug]

This is an easy hustle to run. I wish I had more family members worth a damn :-)

[iracer7]

Where do you see getting $150 for opening an account? I just opened an account and only saw getting 100 free trades as the promo.

[tulog]

Read the fine print.

Also, brokerage accounts are not insured by the FDIC. The Securities Investors Protection Corporation (SIPC), a non government entity, replaces missing stocks and other securities in customer accounts held by its members up to $500,000, including up to $250,000 in cash, if a member brokerage or bank brokerage subsidiary fails.

FDIC: Insured or Not Insured?

[jpg7n16]

FYI: the terms of this deal

From: Website Disclaimers « OptionsHouse

7- All OptionsHouse customers with a valid funded account are eligible. Each "friend" can be referred only once. New accounts must be opened within three months of referral and funded with at least $1,000 for a cash account or $2,000 for a margin account. You will be eligible for a $150 gift card, $150 credit or 30 commission-free trades (each referred to hereafter as a "bonus"). If you choose the 30 commission-free trades option, account holders receive a maximum of 30 free trade commissions for stock or option trades executed within six months of the referred friend funding his or her account. Account holders will not receive cash compensation for any unused free trade commissions. If you choose the $150 gift card or $150 credit, you will receive the bonus within 60 days of your friend funding their account. Bonus only valid if referred friend is not already an OptionsHouse account holder and not in the same household as the referrer. Referring Customer can earn no more than fifty (50) bonuses per calendar year. Cash bonus is not available for IRA or tax-exempt referred accounts. A referrer may not use Spam to obtain referrals through unsolicited email to persons unknown to them or to message board postings. Offer excludes employees of OptionsHouse, LLC, its affiliates and employees of other broker dealers. Options plans include: $8.50 + .15/contract or 5 contracts for $5 including $1 per contract for every contract over five. OptionsHouse charges an additional $0.35 per contract on certain index products where the exchange charges fees, regardless of commission plan. OptionsHouse reserves the right to pass-through any additional regulatory or exchange transaction fees. See Rates and Fees for details on trade commissions for mutual funds, spreads, which applies to orders with the same underlying symbol, up to four legs per order, and other securities. For stocks priced $2.00 or less that are not options eligible, add $0.005 per share for the entire order, which is charged separately from commission. Customers may trade up to 50,000 shares or 4,000 option contracts per trade; trades in excess of these parameters require multiple order tickets and will be billed as separate orders. Flat commissions may not apply outside certain risk parameters. OptionsHouse reserves the right to restrict or revoke this offer at any time. Offer is valid for only US residents. Void where prohibited. Participants must act in good faith in establishing a brokerage relationship with OptionsHouse. OptionsHouse reserves the right to disqualify Participants for any reason, at any time. Additional restrictions may apply.

[KTP]

Where do you see getting $150 for opening an account? I just opened an account and only saw getting 100 free trades as the promo.

No, the $150 is for the person who referred you. Like me.

Of course since you probably didn't specify I referred you (since you don't even know my information), we both get nothing

You can get a 24 inch Dell flat screen when you sign up by using the code DELL24 until July 31, or you can get $250 instead of the flat screen if you call and talk to them before funding the account.

For me the 100 free trades was worth far more. I have already used 60 of them doing little $0.02 option plays and have made $3100 this week with only $500 at risk at any time. Mostly just playing around.

OptionsHouse Promotion Code 2011: Free Dell Monitor for New Account