MBT - Rejected Close Orders on Buying Power

Discussion in 'Retail Brokers' started by coryrh, Jul 16, 2009.

  1. coryrh



    Has anyone else experienced rejected options orders to close an open position due to buying power?

    Example, I sold Jan 10 puts to open a position. Weeks later wanted to close the position but the order was rejected for insufficient buying power even though there was enough buying power remaining to purchase the shares outright.

    This has now happened more than once. Previously I had to close an open equity position to increase buying power, wait a day, then close the open options position.

    MBT says no buying power is required to close the position and that they will pass the info along to their developers.

    Has anyone else experienced this with MBT?