IB: How best to unwind Long 1 Globex Mini (NQ) and Short 10 Micros?

[Aisone]

Exactly. We're on the same page. Have fun storming the castle tomorrow, and good luck! You'll need it! Pray you are on the right side of the trade tomorrow morning, because you are so far and away 1:1 parity, you could get fucked if you have a 2.5:1

These are hypotheticals. I'll welcome a good market dump tomorrow in the hopes of finding opportunities to get long before a rebound.

 

[maxinger]

 

[Aisone]

Non-guaranteed never troubled me. But, please research that.

Just keep it on your quote sheet. Right click and select Order Ticket when you are ready. Make sure you get the Buy and Sell sides figured out and not accidentally double your position. Been there, done that.

Be forewarned, IBKR defaults to you buying the offer or selling the bid. I would give a skosh over midpoint for expediency. MM has to keep the lights on.

Thanks for the info.

 

[mervyn]

I did this all the time last year, both long and short if you have enough cash to carry overnight margins. And don’t be greedy and take profits.

 

[Aisone]

I did this all the time last year, both long and short if you have enough cash to carry overnight margins. And don’t be greedy and take profits.

What does IB do if the account doesn't have enough cash for overnight margins?

 

[mervyn]

What does IB do if the account doesn't have enough cash for overnight margins?

liquidate

 

[Aisone]

liquidate

Mine was a stupid question. I guess I was wondering if they penalize the account beyond that in some way, or give you '3 strikes', or something like that.

 

[mervyn]

Mine was a stupid question. I guess I was wondering if they penalize the account beyond that in some way, or give you '3 strikes', or something like that.

for the brokers is just money, meet your margin and you will be ok. the penalty is on your loss, not theirs.