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Also, I'm sure IB only auto-liquidates accounts during normal market hours.

True, but you never deposited "your initial investment" into the account - thus the call. You should have deposited enough money in your account to cover the price of the stock assigned to you through the exercise. It isn't IB's fault that you didn't make that deposit. If you had made that...

Look, the original poster hasn't said "I didn't tell IB to not exercise because I thought it couldn't happen because this was an IRA account". He would'nt have told them not to exercise even if this was a regular cash or margin account. Either way he would have been in the same boat...

Customers already have that "DNE" option you are asking for. The original poster didn't take advantage of that option that was clearly available to him at any point after the opened his position. If he had, this thread wouldn't even exist.

Wow, can't believe this argument is still going on. The fact that this was an IRA account is just secondary to the real point. The original poster would have been here complaining even if this had been a REGULAR account. The point is the original poster didn't understand the risks and...

Why dont you contact IB support - either live online or via telephone?

Thank you for that information. Have a nice day. :)

Wow! Good thing you only bought 3 @ 543876 because you took a -90% beating between there and the next buy! Don't bother reengineering this system. :D

Of course, if the options are marketable - the best thing to do is sell them and be flat. All I'm saying is that if you don't want to be assigned on options that "appear" to be OTM - then you had better tell the OCC via your broker. You never know what might happen at the last minute.

Yes, absolutely I'd stop exercise if I had no plans of actually paying for 1600 shares of GOOG - no matter where is closed on Friday. The Friday close isn't the only important thing here - the most important thing here is the Monday open. If it opens lower than the strike price of your...

d9d - As you know, the stock market isn't open on Saturday - when the shares are assigned. The first possible chance to liquidate is monday morning at the open. Unfortunately, the stock assigned may or may not open above the price at which is was assigned - as in this case where is opened...

Well, here is the lesson to learn from this: If you are holding options that "look" to be out of the money and you want to be absolutely certain you are not assigned if they end up being in the money come Saturday morning - you MUST send notification to the OCC via your broker that you do NOT...

Here is the blurb from the IB site on "contrary intentions" - "Expiration Friday Option Exercise Instructions Use the TWS Option Exercise window to either: (i) exercise an option prior to expiration, or (ii) deliver "contrary intentions" to the clearinghouse for the options held; e.g...

I don't think he needed to close them out - but I do think he could have told IB that he didn't want to exercise them. That would have prevented this situation. Of course closing them out would have also prevented the situation - if it was possible.

To exercise AND HOLD the resulting position.... hold being the key word there. I think it was up to him to either sell the calls - or tell IB that he didn't want to exercise them. I haven't messed with options for years - but I seem to remember that IB gives the user the option of...

He didn't "buy" it - it was assigned to him. Big difference really. When he bought the options, he entered a contract to buy 1600 shares of GOOG at 280 on the expiration date. Over the weekend, he was assigned the 1600 shares - but of course he didn't have enough in his account to pay for...

Maybe. How many millions did you spend in the research and development of these 11 systems you want to sell?

Why would a hedge fund want to buy your systems instead of just trading their own?

Why would he need to do anything - much less add a path statement? Unless, of course, beteween yesterday and today he removed a path statement. Again - what changed between yesterday and today? And Hoodoo - why are your still trying to open it - you closed your account, move on......

Why would it work yesterday and not today for you - yet it seems to work today for everyone else? What changed between yesterday and today?