IB banning opening new put option positions in GME

N

narafa

Heads up to everyone, IB just switched off GME put options (Across all expirations) to close only mode. This is not fair. Any explanation for that?

I guess this has one simple meaning. There are no shares for the market makers to short against any new open puts.
 
See how the game is played. How can you shut out puts like that. Unless the reason you mentioned is why they did it.
 
Shit, I traded hundreds of GME puts today, if not thousands. Still have a lot of orders in but I guess play is over.
Though I don’t think MMs have anything to say in terms of IB and vice versa. MMs trade with exchanges, while all brokers simply submit orders to exchanges.
Unless the ban is at the exchange level.
 
I also traded some puts today early in the session and they went through without issues, but suddenly, trying to place one order only to get the message that the contract is only eligible for closing, no opening. Tried a couple of puts across expirations, all the same. Calls are fine though, open or close positions are allowed.
 
I've been able to short GME all this time, there's always some availability, although not a lot.
 
I’m able to place orders on GME puts at Robinhood, so this is only IB-specific ban.
 
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