Newb question; how to shorts shares that are not avail?

[klattermusen]

I see on IB that it notifies you that shares are not avail but may be located...

1) how do you tell IB to locate them?
2) how long does it take?
3) what if by the time they are located you do not want to short it...

i'd certainly appreciate any info on this....or is it not even worth it on IB..

thank you

 

[smallfil]

Borrowing shares to short any stock is the riskiest thing you could ever do. The risk to the upside is unlimited as you already saw on the GME and AMC short positions by Citadel and Point 72, two hedge funds. If retail traders still have not learned anything, this is another moment where life is the greatest teacher.

 

[klattermusen]

Borrowing shares to short any stock is the riskiest thing you could ever do. The risk to the upside is unlimited as you already saw on the GME and AMC short positions by Citadel and Point 72, two hedge funds. If retail traders still have not learned anything, this is another moment where life is the greatest teacher.

I understand the risk. Thank you.

Can you answer my question?

 

[smallfil]

I understand the risk. Thank you.

Can you answer my question?

Ask your broker. How are we to know how long it would take to procure your shares? So, it is a question you ask another that cannot be answered to begin with.

 

[murray t turtle]

I understand the risk. Thank you.

Can you answer my question?

%%
He is right;
SDS,sqqq,[bear inverse ETFs] can be bought most anytime.
, But a single stock like HEAR [turtle beach] has more risk , even though i bought that stock well past $5.05777.I dont do single stocks anYmore even thoUgh i profited off Turtle Beach [HEAR}...........................................................................................

 

[klattermusen]

He guys if you don't know that's fine. But I'm not asking for trading advice. It's just a technical question that I've not experienced with other brokerages.

I hoped i'd get a quicker reply here the IB cs. Or possibly some times on getting unavail shares.

The mom factor is pretty large on ET.

 

[FSU]

If short shares can't be located, you can always trade a synthetic short with the options. This involves buying a put and selling the same strike call. This price you pay will reflect how hard to borrow the stock is.

Some brokers will offer a paid locate service, where you pay an upfront fee to locate short stock (this is in addition to the short stock interest).

Edit to add,
IB is telling you they can't currently find short stock. I don't think there is anything you can say or do to help them "find" it.

 

[klattermusen]

If short shares can't be located, you can always trade a synthetic short with the options. This involves buying a put and selling the same strike call. This price you pay will reflect how hard to borrow the stock is.

Some brokers will offer a paid locate service, where you pay an upfront fee to locate short stock (this is in addition to the short stock interest).

Thanks but the stock does not trade options.

It's just weird IB's whole "we'll try to locate shares for you" but no actual method describing what needs to be done to initiate the process.

 

[El Trado]

When I used to be a broker, one of our jobs was to get stocks to short for our clients if they wanted it. So you need to use a different broker if you want to find stocks to short. IB is a low end broker that have automated everything. If you require a different service level, you need to find a broker that will provide you with that level of service.

However, the brokerage I worked for wouldn’t give you the time of day unless you had a serious portfolio. So depending on your situation, it might not be possible to access that kind of brokers

 

[murray t turtle]

If short shares can't be located, you can always trade a synthetic short with the options. This involves buying a put and selling the same strike call. This price you pay will reflect how hard to borrow the stock is.

Some brokers will offer a paid locate service, where you pay an upfront fee to locate short stock (this is in addition to the short stock interest).

Edit to add,
IB is telling you they can't currently find short stock. I don't think there is anything you can say or do to help them "find" it.

%%
WOW, we keep running into walls so to speak/i did not mind occasionaly paying diVidends /but NEVER an up/front fees.
I have paid up for a different charts service+ short selling book + trading books but never an upfront short selling fee...............................................................NOT a prediction/not Turtle Beach\\or in original turtle class\