anyone has this problem with IB or other broker where they are forcing to buy back short positions where i'm short on SPY they say it is the new rules from the SEC regulations
I had this same notice yesterday on 50 shares of 100 SPY I was short. Other short positions didn't generate a notice. They did give us fair warning tough. They sent a bulletin a few days before saying this might happen. While annoying, you can reset positions with ultrashorts for close to the same effect. If your short is only for a couple days it looks like it won't matter because they have three days to find the shares before closing the position. But I suspect this is just the beginning of a wave of changes designed to try to make the markets less shortable by the small dollar traders.
Yes, I got bought in on MA by IB this morning. The notices they sent me didn't make sense, saying they couldn't come up with the shares for settlement when I've held the position for weeks. I've tried to ask them when this happened in the past how settlement could be a problem on a position I've held for over a month, but I just get doublespeak. If the shares are no longer available that's one thing, but that's not what the notices say. I've had about 7 possible buy-in notices from IB in the past few months, but this is the first time they actually did it. I re-took the position in my Ameritrade account, I'll see if that works better.
Holy crap, IB is terrible. I can understand if IB has problems locating hard to borrows in time for settlement but SPY???
the same experience here. many times in the past month. you need to roll positions every 3 days at least or even better actively trade it. IB give a shit.
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