Prior studies of retail trading costs focus on stock market orders, largely overlooking the role of limit orders and the boom in retail options trading. We show that these underexplored factors are critical for assessing overall retail trading costs. First, nonmarketable limit orders account for 17% of stock volume but more than 34% of option volume in Form 606 reports by retail brokers. Second, using trader-level data on 451,299 option and 607,922 stock retail trades, we estimate effective spreads using actual trade direction to average 1.07% for options, much higher than 0.07% for stock trades. But these realized option costs are 60% lower than the 2.59% conventional effective spreads because retail investors commonly use limit orders to reduce trading costs. These patterns hold across trader styles. Finally, individual trader order choices rather than broker defaults drive execution quality, with trader performance persisting over time.