Does anyone know why options broker fees are so high? A typical cost is ~$0.25/contract for a $1.00 SPY 0DTE, eg: https://www.interactivebrokers.com/en/pricing/commissions-op...

Does this reflect brokers' cost of technology (many tickers to keep track of)? Regulatory fees? Lack of competition?

edit: Perhaps it's largely profit. Seems https://public.com/invest/options-trading is trying to undercut on price.