So Schwab liquidated position instead of rolling it!?

Discussion in 'Order Execution' started by mgamble00, Feb 28, 2022.

  1. mgamble00

    mgamble00

    I've been a customer 15 years. They have auto rolled them every time if I stayed in too close to delivery. This time they decided to liquidate my 9 soybean contracts on Friday with no call or warning instead of auto rolling them like they have every time since I've been a customer since 2008. I had over 100K of excess margin money in the account, and the postions were protected with puts even! So to my huge surprise last night I had to buy them back for 19 cents higher than what they were sold out from under me for. How is this not bad business or illegal? Again, in the past every single time were ALWAYS rolled into the next contract month automatically not just liquidated! What should I do next? If they had always rolled in the past, and then this happens. This is no consistent behavior at all. Why would have they not called me at least to ask what I wanted to do?!
     
  2. zdreg

    zdreg

    Call Schwab. Every Wall Street co. of size has a trade resolution department.
     
    murray t turtle likes this.
  3. zdreg

    zdreg

    It never ceases to amaze when people have problems they suddenly join ET. Ever hear of the word thank you and I would appreciate it if you respond to my problem
     
  4. mgamble00

    mgamble00

    Ok thank you.
     
  5. mgamble00

    mgamble00

    Ive been a member since 2009 but only post if I have problems. Isnt this what a forum is for?
     
  6. SunTrader

    SunTrader

    You going to start a 3rd topic on this?
     
  7. Personally, I'm glad the people post their problems here. If a broker is messing up or difficult to deal with, it's nice to have that information even if I don't have my own solution to contribute.
     
    jrocco likes this.
  8. mgamble00

    mgamble00

    My Bad. Harsh crowd here.
     
  9. maxinger

    maxinger


    unfortunately, there are quite a few people who come here just to
    vent their anger / frustration
     
  10. zdreg

    zdreg

    Agree but presentation counts. Agree but follow up counts.
     
    #10     Feb 28, 2022