Going to ThinkorSwim

Discussion in 'Trading' started by TheCaymanIsland, Dec 15, 2008.

  1. Hey guys, going to transfer my account from Eturd to ThinkorSwim. However, I'm short a ton of naked options in my account. Can I still transfer or do I need to cover the options first? I know you can transfer stock positions over but wasn't sure about uncovered options.
  2. you can, but just like transfering open stock positions, its more hassle than its worth...especially considering the volatility in today's market.
  3. Absolutely but its mostly long dated options on the SPY. Don't feel like covering those.
  4. You can pretty much ACAT anything (assuming receiving firm will take the position) but as the other post said, might not be worth the risk. If you need to exit or do something w/ the position it could literally be stuck in cyberspace (meaning some data entry person making $8/hr hasn't gotten to it yet).

    I'd wait to transfer until the position is closed or transfer everything else but this position if it's a concern.
  5. Fund the TOS account with plenty of money, and if worse comes to worse, you can buy back the shorts with TOS before the xfer fully takes place. When the shorts make it to your account, they'll just net out.
  6. Great advice, thanks.