Robert Morse
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I think we missed the point because at no point did you say you wanted to avoid selling a long term position. A better process for brokers that allow the selling of tax lots is to do that or choose LIFO vs the default FIFO.
Owning a stock both as long as well as short
- Thread starter earth_imperator
- Start date
I don’t know OP’s trade plan but I for one hold long and short on ES/MES and/or different maturity dates.
For example, long 1 ES with no stop limit is at the lower price but short 5-10 MES intraday or covert short term with profit target exit. But unfortunately no broker allows me to allocate cost basis, only FIFO or intraday first. I have to keep a piece of paper to track my in-and-out manually.
On stocks, no it doesn’t make sense unless you combine with options.
For example, long 1 ES with no stop limit is at the lower price but short 5-10 MES intraday or covert short term with profit target exit. But unfortunately no broker allows me to allocate cost basis, only FIFO or intraday first. I have to keep a piece of paper to track my in-and-out manually.
On stocks, no it doesn’t make sense unless you combine with options.
A plan? He has no account. His profound lack of knowledge results in these ridiculous troll threads.
On numerous occasions in the after market I have desperately wanted to short a stock or ETF, but could not because the shares were Hard To Borrow, or there was no tick down to allow the short sale. Having long shares in one of my accounts would have been desirable. The after market is not like regular trading hours. A stock price can be artificialy high in the after market because no one can short the stock.
I asked my CPA one time..."can I sell a stock in my Schwab trust account, then buy it (less that the 30-31 day rule) in my Fidelity Roth IRA account" (or vise versa)?? He said I could, but it's illegal. The chance of getting caught is .000squat. If I were running for public office, I'm sure someone could dig up the dirt...
I even asked, what if I sold in My Roth IRA and my wife bought in her Roth IRA? He said..."No no no". He said something like collusion...
I even asked, what if I sold in My Roth IRA and my wife bought in her Roth IRA? He said..."No no no". He said something like collusion...
MsDawn's logorrhea: Yes but you would've incurred huge losses on the long position and no sustained profit from the short because there is no independent short position; it's just unloading some long, unless I am missing something here?
What aren't you missing?
Trader STCs the long in one account and has a ready short in the other as he doesn't have the uncertainty of a HTB condition as it's already in the account, you fool.
Ofc the trader can simply own a conversion-arb in a single account and cover the long leaving a synthetic short marked to the legit forward (reflecting actual borrow).
My G*d, dude. Stop with your advice!
What aren't you missing?
Trader STCs the long in one account and has a ready short in the other as he doesn't have the uncertainty of a HTB condition as it's already in the account, you fool.
Ofc the trader can simply own a conversion-arb in a single account and cover the long leaving a synthetic short marked to the legit forward (reflecting actual borrow).
My G*d, dude. Stop with your advice!
fakes, frauds and the bullshit artists = anybody who disagrees with him and calls him out for who he is. And his "candor" comes from his desperate attempt in establishing himself as somehow the only authority on options (not derivatives just options) for which his purpose and motivation completely puzzles me. I have never seen anybody, including those who are much more knowledgeable about options and trading imo would spend so much effort in defending their opinion to the point of stalking and attacking them beyond debating the issue. I mean what is he trying to prove? Him as an option god among us amateur retail traders? LOL Ok sure he's the best. He knows all. We know nothing. He calls us all out; we are all fakes, frauds and bullshit artists. He's the real deal. Now what? LOL
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To me, not allowing short selling is the biggest manipulation of the market and runs most contrary to the free market. I mean buying and selling are two sides of the same coin, two equally important trading actions that create an active market. How can they allow one to buy a security without owning it first and disallow one to sell a security when not owning it?
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