could you please explain the difference in margin requirements between these clearing firms/ you can PM me but i am sure others would also like to know.
Add me to the list of TradeStation unhappy guys looking for a second or new broker. I started a thread with the same complaint in Tech Speaking before I found this thread. To recap, I haven't been able to short SPY for about three weeks and yesterday couldn't short Spy DIA, or IWM early in the morning.
Hi Charles, could you please go into a little more detail as to why you like Goldman over the other clearing firms? Is it the combination of margin + all in one account (i.e. Futures and equities - and I would gather options) + short list, that in your mind makes them the (slightly) better choice? (Southwest being purely equities). Any other reason(s) - like reliability, etc? Thanks.
Looks like the Goldman Stock Loan list (link posted earlier) assuming it is up to date, has SPY and DIA on it. IWM is not on it (IWN is).
While one could argue that all firms should margin positions similarly, the fact is that they don't. Thus, depending upon what and how a client trades, one firm could be better than the other. In the case of high frequency or at a minimum day-trading stocks, SWS and Goldman margin things the way one would expect. Merrill on the other hand is more restrictive. Likewise, Merrill can be restrictive on certain options strategies but more generous than Goldman on others. Goldman in general however is very advanced in terms of margining options. SWS is also pretty good and generous to the client in both. Re DIAs and SPYs, all 3 firms most always have these available to short. IWMs are usually available though can get tight. In this case, you would have to call help desk for us to locate them. We almost always can. Charles
Thanks everyone for the responses. I am leaning towards IB as a back up. I must say since I started this thread that I have been able to short everything I have tried. Isn't that ironic? I still think TS platform/capabilities are far superior to everyone else-just wish the brokerage side would improve. Best regards.
The size of the list is meaningless. You want to be able to short pumped up garbage thats gonna come down hard. Those shorts are hard to come by. If you want to short the market, you dont need stocks.
Can you buy a put option at certain brokerage, if the stock isn't shortable? Are there any different cases during times
All American equity options are standardized, clear in one place. Their availability not depends from brokerage. Market dictates. You personally can make any option avalable doing an offer.