Registered: Jun 2006
01-08-12 11:34 PM
Quote from gster210:
During AH Friday....I put in an order thru IB for ten dollars LESS than the current price of a stock I had shorted, that had risen...just to see if it would get hit...if someone really wanted it or mistyped.
So I type in 76.40 and checked it three times....even hit preview on IB...and see 76.40...I am POSITIVE.
So I execute and immediately my order gets hit at 86.40 and 86.65!!!!!!
I couldn't believe it....I called and assured them it was not right and all they could do was look at the audit trail and it said 86 of course not 76.
So I just go totally screwed and covered my position at an even higher price than market, let alone 10 dollars higher.
It cost me over 4 grand.....I am furious. I remember seeing the 7 and do not make mistakes like this...even previewed.
I'm having trouble seeing how this cost you $4k. You said that you (tried to) put the order in for $76.40 which was $10 less than the current market price but it actually executed at $86.40 ($10 higher) - that sure sounds like you actually closed out your short at the current market price, maybe not what you intended but hardly devastating.
Couldn't you just re-short the stock at $86.40 Monday morning and the only thing you would be out is the extra commissions?
Exactly how are you out $4k?