IB banning opening new put option positions in GME

[zghorner]

Most disappointing.

 

[wilburbear]

that oil futures contract went below zero.

gamestop could go to below zero if everyone tries to get out.

-yep, the password on this account is 123456, so anybody can post unpopular opinions using this account

 

[zdreg]

All restrictions are intended to bail out the hedge funds, who are Wall Street's best customers.

 

[wilburbear]

a 50 cent put might trade for 2 or 3 dollars. that's the next "impossible thing" we'll see.

stock could go negative $20, like that oil futures contract did.

123456 is the passowrd to this account

 

[lindq]

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.

IB probably did you a favor, given that GME's IV is likely to shortly get crushed.

Vega can be a bitch.

 

[zdreg]

I’m able to place orders on GME puts at Robinhood, so this is only IB-specific ban.

This is one more proof why a trader needs more than one brokerage firm.

 

[zghorner]

IB probably did you a favor, given that GME's IV is likely to shortly get crushed.

if/when price drops as fast and hard as it has gained will that cause a rapid drop in IV?

 

[ironchef]

if/when price drops as fast and hard as it has gained will that cause a rapid drop in IV?

The opposite.

 

[zghorner]

The opposite.

so how would that be "doing us a favor" as @lindq stated?

 

[MrMuppet]

Guys, IB restricted these puts so you monkeys cannot short them on margin and blow up.

So for once be happy that they protect you from doing stupid things that harm your account