BrownCo down and cost me $1k lost profit!

Discussion in 'Retail Brokers' started by a529612, Apr 21, 2006.

  1. The site went down at 3pm on expiration Fri. The live broker phone line was absolutely jammed. By the time I got through, $1k of profit was already out of the window and I had to close out the trade for peanuts. :(
  2. Ebo


    That's what backup broker's are for, if you need to offset a position. If all you lost was a G', consider yourself lucky!
  3. I didn't lose anything but just made 1g less profit.

    How does backup broker work if you are shorting naked options and need to get out of the ITM position before expiration?
  4. Ebo


    Get a real Options Broker like Thinkorswim.

    Brown, as far as I am concerned takes it in the Brown now that they merged with E*TERD!

    I do not know how that would work on expiration day to offset a position that needs flattening, sorry, I trade futures and have 2 brokers for these situations.

    Good Luck!