Yeah.... that's a good one. However they want be able to cover it from 1 liquidation of a spread, but from thousands of liquidation that's probably a different story. Who knows, mabye they will tighten margin again now... (obviosly because of the volatility..)
I thought you were a playa. I could have only assumed the liquidation you suffered at the hands of IB cost you millions.
I would have thought based on your serial defending IB, that you probably trade with them in the Billions. Now I find out that you hate IB because of their liquidation polices, and because their reps donât know you by first name. I guess you need some hand holding, then IB is not for you.
No they are not. I don't hate them. But I know for my strategy (which is often short vol) a stringent liquidation policy can be troublesome. I also figure that I have enough things to worry about, my broker should be there to resolve any problems I have quickly and efficiently. IB won't do that for me. But I don't like it when people don't take responsibility for what happens to them. As part of the trade off, my ability to trade futures has been severly curtailed. IB's aggregate risk and cash management between the accounts would have been nice.
The 10Q states the dollar value of the shares as 16 million as of September 30th. Has IB clarified when the 8 million shares referenced by the press were purchased?
Dont you guys remember Wall Street? Gekko used to secretly buy up stock before the takeover. "Look, Jerry, I'm looking for negative control, no more than 30 to 35%, just enouqh to block anybody else's merger plans and find out from the inside if the books are cooked. If it looks as good as on paper, we're in the kill zone. We lock and load pal..." Gordon's loss on Bluestar was probably more than 28mill and that was 25 years ago
shmuck, it would be ironic if that was MF's ad. You'll have to do better, your margin call is showing.