I think that IB doesn’t offer an additional share location service, only an automatic one where you simply place an order then it will get filled after/when short shares become available. This is great for everyone since everyone is treated equally and everyone may get some shares to trade/short. And it’s cheaper than other locate services. Even if you offered to pay more, everyone would do the same while the number of available shares wouldn’t increase, so you would still have the same problem but pay more for having the same problem. IB helps everyone save money equally, vs charging everyone extra fees, or allowing you to have advantage over others. So get in line with everyone else.
@Overnight - thanks for looping me into this thread (actually thanks for pointing me to a song from a rolling stone top 500 album which I actually did have on my heavy rotation about a month ago)! While I think the thread title is click bait and there seem to be a number of other threads started by the OP regarding shorts, I'll indulge. Hopefully the OP will give some more thought to titles and questions and find there are many on this board willing to pass along some wisdom when asked politely. Here mine - take it for what it is worth. - penny stocks for US markets are typically low cap and high risk stocks which often come with margin and restrictions such as the 'ready market rule' by FINRA (look it up as that is your major impediment and arguably for good reason). - for the reason above along with a host of other good reasons, which I'm afraid I don't have the time to go into now, low cap stocks are often difficult to borrow. Nevertheless, as mentioned, we do have an active team who go out and seek stock when clients try to short and we have no internal availability. This works extremely well for most clients. We don't play games with 5x overnight or high locate fees. If we can get the stock and it makes economic sense, we will. However, let's face it. The team is not going to go far out of their way for someone trying to short 1000 shares of a ten cent stock and if they did the lenders would hang up the phone. However, if by the odd chance you have a multi-million dollar account and want to pre-borrow and lock down size, shoot me a PM and I will introduce you to our stock loan desk.
What's even funnier is that he "threatens" to block everyone but apparently doesn't realize that we all know he hasn't done so because we can still see his posts. Nothing more pitiful than a jackass who a. thinks anyone cares if he blocks them and b. can't even manage to follow through on the empty "threat"!
Jobless - LOL. I'm so hurt but I also suspect given your knowledge (or lack thereof) of the markets is so strong you must be right. I'll sulk back into my retirement now - insaeng-eul eodda. Go back to Robinhood.
%% Blessing for that LOL/true.................................................................................
I'm not defending OP cause, yannow, he's kind of an ass. I've blocked people without mentioning it, no need to make a fuss about it. However, none of you other guys actually answered his question except @def. And what's with the whole elitist "no penny stock talk among us seasoned veterans"? Penny stocks are my bread and butter. I just paid September rent with HTZ. I literally started this trading thing around February and I'm just learning how to walk. By all means, turn you noses up at penny stocks. More for me.
The problem isn't with the penny stocks or people like you. It's that when you allow people to "discuss" them on a forum like this it tends to quickly devolve into everyone trying to either pump or dump the stock they're holding or short.