wow a lot of people are missing the point about the recent PDT rule thing as applied to options. (and that's the current beef) the stock PDT thing happened over a year ago and most are over that one. there was plenty of notice and explanation to one and all that stock trading on margin under certain circumstances was going to be restricted. The general consensus and even FAQ's at various brokers specifically exempted futures and options from PDT. Then, without notice to EVEN ONE PERSON, much less account holders, all of a sudden the rules were applied to options, and the nasd and IB websites were altered to reflect the new application of the PDT rules to options. The big issue is that options are not bought on margin but with cash up front, except that, for the most part, they are simply being traded (in and) out of a margin account. Ultimately I still wanna try to figure out how to challenge this but I'm just a tax geek. I really wish I took securities law when I had the opportunity - now I have to figure all this out from scratch...
Dead on. "Ultimately I still wanna try to figure out how to challenge this but I'm just a tax geek. I really wish I took securities law when I had the opportunity - now I have to figure all this out from scratch... " You go, girl!