Dont be a jerk.
You are engaged in a contract to borrow. I'm talking about not being blindsided. You know, like how about 2 days notice.
Take a hike
IB surprise email: UCO short had been forced to bought-in!
- Thread starter GloriaBrown
- Start date
You are engaged in a contract to borrow. I'm talking about not being blindsided. You know, like how about 2 days notice.
Take a hike
He's totally right, short sellers have very little rights (even non-retail ones). If it's a hard to borrow name, you can get bought in and sometimes it happens within a day. C'est la vie.
I will login and check my ib account after work.
Why am I a jerk? That's just the way it works... don't shoot the messenger...
There's no contract, because you don't provide fixed terms...
I was talking about what SHOULD be the case, not what is. Sounded to me like you were saying there is no possibility for improvement in the current system.
Shorter borrows shares, agrees to pay a fee for the privilege. Why is that a 'no rights' circumstance. ?
Reg SHO is pretty specific and the violations are very expensive and the violation can pass a fine through to the customer. It's not pretty and re-hedging with options doesn't end the violation. Go look at the regulatory history at optionsXpress. I'll post a link when I find one and the SEC charged the customer as well. That litigation was still pending.
Well, firstly because he doesn't set a time... therefore there is no agreement on the duration and it can undone immediately.
Even if there is a 'contract' with a duration, it's hard to enforce. Remember, your broker is merely the facilitator...
I agree, it could be done better...
https://www.sec.gov/news/press-release/2012-2012-66htm
Notice they also charged the customer.
I looked at the SEC sight and the case against the customer was dismissed.
Notice they also charged the customer.
I looked at the SEC sight and the case against the customer was dismissed.
My account says it is not available for short "NOW" but things are dynamic and and it can change any time. I used to sell naked in the money calls for shares that were not available and then when the option was assigned, I was atutomatically short and they would let me keep the position
