marginable stocks

Are there any stocks that trade on the nyse or nasdaq which are non -marginable?

 

Any stock under $3 to start.

 

re: stocks under $3
Not true. e.g. you can short stocks under $3. they may have a maintenance requirement of 100% which is not the same thing as being non-marginable. The difference is non-marginable affects settled cash to trade. 100% maintenance affects day trading power.

 

Wow- my answer was correct. You did not ask if you could short a stock or get a locate you asked if it was Marginable. Stocks under$3 have a 100% requirement and have no loan value.

 

If you day trade a low price stock which is non marginable you have to meet a 2 day settlement requirement even if you close it the same day. if it has a 100% maintenance requirement and buy and close the same day your day trading buying power is affected only by the profit or loss .

(I am familiar that locates can be attempted on any stock at all price levels)

 

I guess you don’t need my help because you have all the facts.

Cheers.

 

If you wish to differ on the difference between 100% maintenance and non-marginable, expand on it.

Cheers.

 

Non-marginable stocks are typically shortable. Whether or not a security is non-marginable is determined by whether or not you can use margin (leverage) to purchase it. At least that's my understanding of the terminology. Someone can correct me if I'm wrong.

 

non-marginable stocks are typically not shortable because locates are difficult to find.

 

That's true. What I meant was that you're typically allowed to short non-marginable stocks assuming your broker has access to the shares. Most brokers won't let you short stocks on the threshold list though.