Optimizing your broker's commissions to your trading strategy is important. We are in this to make money right?
A lot is the quanity of the trade you are putting on. For example a vertical spread with a lot of 4 is selling 4 contracts and buying 4 contracts for a total of 8 contracts. An Iron Condor with a lot size of 2 is buying 4 contracts and selling 4 more for a total of 8 contracts. If you are just buying or selling an option your lot size will be the number of contracts you are trading.
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