Jack, I am a PDT. And my margin call is for ~22K. Does your above example change since I am a PDT? What would a restricted account do?(ie can I still hold and/or sell off my LT positions if it goes up 30% one day ) Also since I am a PDT does the 50% initial margin still apply and does that mean that if I hold 25K in equity stocks that I CAN short 50K worth of stock at one time? UT
UT: Here is a quote from FINRA, one of the industry's regulators: What is my day-trading buying power under the rules? You can trade up to four times your maintenance margin excess as of the close of business of the previous day. It is important to note that your firm may impose a higher minimum equity requirement and/or may restrict your trading to less than four times the day trader's maintenance margin excess. You should contact your brokerage firm to obtain more information on whether it imposes more stringent margin requirements. Go here for more info: http://www.finra.org/Investors/SmartInvesting/AdvancedInvesting/DayTrading/p005906 The only question you cannot answer with the FINRA info is your buying power since it has to do with the maintenance margin (%) that your broker requires. As I indicated in my first message they sometimes have a different maintenance margin percentage for different stocks. Many brokers show you your available margin in the trading screen. However, talk to your broker for the details. Jack
Thanks dude, I appreciate it... Gonna settle up tomorrow Hope ATVI gapps up a bit so I can scrape 1% off my trade before I sell it off Peace, UT