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tango29
Registered: May 2003
Posts: 979 |
02-18-12 09:03 PM
I agree, no excuse anymore, but until someone big enough makes a stink we are stuck knowing the current rules. Sometimes you have to dig deep to find the info you should know, or read an example of someone who got shafted to find out the oddities.
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ammo
Registered: Feb 2007
Posts: 18258 |
02-18-12 09:06 PM
true,its just amazing that an enron type business model has been adopted and there seems to be no shame ,actually a brazen attempt to defend it, as in IB's raping of this guy,or the recent MF global fiasco,nothing done,just a limp attempt at some nothing wrong response
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blueplayer
Registered: Sep 2012
Posts: 35 |
09-17-12 06:10 AM
Quote from ammo:
even though its done all the time ,the option should be marked to the 4pm est stock close on the nose price which was 280 and his option is worthless ,any price after that is after hours trading and since the option is closed it cant be marked to an after hours stock price worth .30 and he should not have been assigned ...after hours trading is an add on that did not include after hours option trading..if a buyout rumor came out and the stock rallied to 310 at 1 minute after expiration do you think they would have said your option has expired worthless,they should, and what would they tell the guy with the 290 calls.. .this may be a loophole but it sounds black and white ,not a grey area,its worth asking an attorney about..before after hours trading ,trading after the close was illegal and any crosses to clean things up were done at the closing price
I know the thread is 7 years old and this comment was posted about 1 month ago, but just for reference and to stop this line of attack, the official close of Google at 4:00PM that exp day was 280.30. No after hours funny games were involved at all.
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hippie
Registered: Dec 2009
Posts: 1076 |
09-19-12 06:18 AM
With my IB IRA, I can trade futures with marjin risk,
but cannot trade any call spread in which my risk is clearly defined w/o margin risk. I read this is crazy US government regulation and not IB rules. Anyone has more info?
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JackR
Registered: Mar 2004
Posts: 1084 |
09-19-12 11:14 AM
Simplified - It is regulation, not risk. Technically, in a futures account, you put up a performance bond. There is no loan involved. In equities and options, you must have the ability to borrow (margin). You cannot borrow in an IRA account.
Jack
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