Options expiraton day....

M

MattMichigan

I was soldout by TDA at 12:37pm on 10 contracts for a 1.30. Of course when I got back from lunch to sell my position it was at 1.70 and when I called they explain this is their policy if I fail to contact them or move funds into the account to assume the underlying they reserve the right to sell my position. Anyone else have any similar experiences? Is this policy at all the brokers??
 
Not using margin....they have made good on this error by giving me 50 free trades. I was impressed with how quickly they responded to my complaint!
 
Quote from MattMichigan:

Not using margin....they have made good on this error by giving me 50 free trades. I was impressed with how quickly they responded to my complaint!
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If they acknowledged it as an error (and it was) then they should have given you the cash. Do yourself a favor and move to a low commission broker.
 
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