Tell SEC and NASD you oppose daytrading rules on Options

Discussion in 'Options' started by hii a_ooiioo_a, Nov 4, 2002.

  1. qdz

    qdz

    1. By these PDT rules, do NASD/SEC want to address day trading problems or margin problems?

    It should be margin problems, right? They see that over-use of margin is harmful. But that is not equivalent to say day trading is harmful.

    2. Why is it 4 day trades out of business 5 days?

    Why not 3 out of 4 or 1 out of 1? How do you think one is less or more riskier than the other? There is no quantity of money involved in such an important concept.

    3. It seems IB does do potential PDT a favor by limiting 3 day trades in 5 days. This prove that they do care to protect some small investors while be compliant to NASD/SEC rules, for course for their interests. On another extreme, they could just say you are a PDT anyway.
     
    #11     Nov 7, 2002
  2. white17

    white17

    Notice that it says "any" security. Could they apply that to futures? I think these guys at NASD would apply it to groceries if they thought they could get away with it.

    I'd like to see some documentation that this rule DID NOT apply to options. Does anyone have such a thing ?
     
    #12     Nov 7, 2002
  3. gordo

    gordo

    Toonces:

    Bit of an off topic question, but where did you come up with that handle? Coincidently know someone who is affectionately referred to by that name.
     
    #13     Nov 7, 2002
  4. Toonces

    Toonces

    gordo

    Toonces was the cat who could drive a car on the SNL skit from the late 80s.
     
    #14     Nov 7, 2002
  5. Futures are considered Commodity rather than Security. They shouldn't fall under the SEC jurisdiction.

    It seems that to freely trade options we will simply have to trade them from a non-margin account.
     
    #15     Nov 7, 2002
  6. This is a great rule. It keeps you little bastards from trying to front run my bids.
     
    #16     Nov 7, 2002
  7. qdz

    qdz

    you seems a little naive. you must haven't benefit from hiding your big orders after small guys and get good fills. I had many experience in which I think I made many giant guys smile. JMHO.
     
    #17     Nov 7, 2002
  8. qdz

    qdz

    your statement souds a little naive. don't you think they are coming after you sooner or later no matter how big you are?
     
    #18     Nov 7, 2002
  9. please.......gimme a break
     
    #19     Nov 7, 2002
  10. You little bastards make me pay high prices. When I bid 10000 shares on the NYSE all you little pricks hit the offer. When there is a big offer I can hit you Dot guy's take it before my floor trader gets my call. I hope all you day traders go away by law.
     
    #20     Nov 7, 2002