Seems we have been told different information. I hope this is resolved; regardless, the issue is moot, because IB still sends statements out in many cases before reporting of assignments occurs from the OCC. (If the statements are sent out extremely early, I was wondering if that would indicate they must have received OCC feedback already).
I have not been told anything. I have used IB as a broker for several years and I read my statements. I get assigned regularly and the statement has always noted the transaction timely and accurately. I do agree that it is not an issue.
Are you suggesting you always do or don't always get your statements before the OCC reports the assignments?
IB emails me my statements, at least 8 hours after the market closes. I conjecture that they process the larger accounts first, then work their way down. Logging into the web site does not change this - your statement is not available there either, until 8 hours after the market closes (and they email you). So for a normal option assignment this is plenty of time. As discussed above, we know which options are vulnerable for assignment. Maybe 1% of them? And then there is another 1% chance that for some reason IB does not note it in the statement the night before, and you get hit during the middle of the day. And then you marked your key positions as liquidate last didn't you? I think this is all pretty rare. Maybe we should worry about why they don't have penny increments and why the spreads are so fat, that affects 100% of our options trades, not .01%.
Your missing my point: even if "good chances" are sufficient for you(re: not getting midday assignments) , you don't get "good chances" unless you check your account each day at the opening bell. I was told receiving the statement is not sufficient. IB won't necessarily hold back their statements waiting to hear conclusive results from the Options Clearing Corporation (OCC) regarding if there were any assignments that day,
Again, you were told? Who is telling you these things? If you were assigned on a covered call and you log in and both the call and stock are gone from your account, what happened? Were you assigned? Was there a margin issue and you got liquidated? Did someone withdraw money from your account? How else are you going to know definitively what happened without reading your statement? Statements are processed after midnight, long after the deadline for exercise requests and subsequent assignments.
1) The information has come in an e-mail exchange between IB and a person I referred to them. I saw the e-mail personally. I am quite sure that Def would confirm the same, i.e. arrival of your statement does not indicate the results from the OCC came through already. | 2) I hope you aren't formulating an opinion for people who trade spreads based on your experience with covered calls. If you first open positions on hundreds of 4 legged strategies (including some shorted position(s) with little or no time value) and then see if your comfort level is the same. 3) I have obtained much information about offerings of various brokers, and am about to open a website ("Mychoicebroker.com") to help people find the most ideal broker for their needs. I am not sure what you are trying to say, are you advocating IB not rectify the problem?