I'm interested to know what the basic positions was. Were you net short a lot of cash settled index options?
I looked at your screenshots. How could the position have been any less concentrated when it was "approved and established"? I see a short strangle (assuming the redacted symbols match). You are slightly less short on the 24th, but that doesn't have anything to do with concentration.
I just don't want a community of traders to know what my positions are. Good question. I think Etrade would have used that excuse rather than using highly concentrated if I exceeded the position limit. Moving past the positions and Etrade's rationale, I'm still hopeful for insight and assistance with regard to journalists, attorneys and legal citations.
You should know that your option agreement most likely gives them the right to do this. You should also know that the SEC investigated customers and FINRA investigates Broker Dealers. No attorney will take this case as you laid it out. Sorry..Bob
It's not a short strangle, you can ignore the top position. I apologize for the confusion. Though it's profitable, it's not what Etrade seemed to care about and I was told it didn't matter if I liquidated it, though I was thanked for the offer. The position became less concentrated due to its performance becoming increasingly less valuable to the options purchaser and therefore deteriorating in price. As the seller, that means that it represents a significantly lesser percentage of my portfolio than before. <http://www.finra.org/investors/concentrate-concentration-risk>
That is pure paranoia. We don't know who you are. Nobody is out to "get you" on your positions. There is no trading cabal that will somehow mess up your holdings.
Bob, I understand your perspective as someone who works for a broker, however the SEC is already investigating and awaiting Etrade's response. Per the second principle of the Securities Act of 1933 and the Securities Exchange Act of 1934, "companies that sell and trade securities (brokers, dealers and exchanges) must treat all investors fairly and honestly." <http://www.investopedia.com/ask/answers/112.asp> Again, I understand your confidence regarding an attorney you may be right. The one considering it is probably the foremost in these matters. Maybe you know more than him, the expert!
it is doubtful that a lawyer would advise you to post in a public forum. what is your purpose in posting?