Last week, IB customers got notice of a buy-in of short UAL positions, effective Wednesday. Apparently, it was not an idle threat, and those that did not close out did, indeed, get bought in. Did anyone outside IB have the same problem? Any idea which firm called the stock back, and how much it was? Is UAL available anywhere currently? (PMs welcome)
What the ---- are you talking about? You can buy any amount of UAL on the market. Personally, I picked up several thousand shares due to the fact that they have the best network (so did another major that died, TWA). Anyway, If you have to ask how ya get stock, then what are ya doing here? As of 8:38 PST the spread is 1.52/1.42 Jay
I trade through SLK. No borrow there either. But you can buy bullets, and roll it over everyday in the hope that you won't get bought in. I have received several buy-in notifications, but so far they could locate stock in time so that the buy-ins were not executed.
True. I only have a small amount of my total investments in it though. I have done this before and paid a few times (like Enron at a buck), but overall it has worked out well. This type investing is in a long term IRA account and I never put more than 20% in any single position. I also have a bundle of LU at 80 cents. If both these tank, I'm down 40%, but if either one takes off, the account will be very happy. Note: I'm a day trader by nature (eminis only), but sometimes see these threads so thought I would chime in. Cheers, Jay
Jayford is a real genius. If he trades I want to know what, so I can be on the opposite side and make a killing. Buy a series 7 manual and read about short position buy -ins before you post an idiotic message. inmate451 *illegal shorts will catch you*
some people post and rip people without reading the whole message. I too got a buy-in notice on UAL at IB. I bought on wednessday. Ticked me off. I almost did not buy just to see what happened.
I bought in most of my position wednesday, we'll see what happens. Could be buying bullets and playing that game but it doesn't pay. inmate451
Where did that come from? Already have a series 7. Wasn't paying attention to the exact details of the trade, but that flame was a little severe. Jay