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You wouldn't get a fill at a negative rate... The only reason euro would be negative is because their rates are negative. There isn't going to be an arbitrage opportunity. And as the other guy said, ignore the dude who doesn't even know how a short box works. The only thing to worry about is a bad mark which dumbass IBKR could auto liquidate. Note also that spx contracts are marked to marked annually for taxes. If you get a bad year end mark you could have a theoretical profit that you'd owe taxes on which would unwind later. You could also have a year end mark showing a larger loss than is actual which would unwind later as well.
Generally, if you've got an option that's likely to get assigned, and your account can't handle the assignment, the broker will usually close that out for you before market close. ​ >So, the margin call would be for $100, correct? It depends on a few things. One is the underlying even marginable. If yes what is the margin requirement, is it 'default' (usually 25%) or something higher? > Would the broker liquidate the $200 ($500-$300) worth of marginable securities (or do you retain the ownership)? When do you need to post $100 of additional cash, end of the current trading day or prior to market open the following day? Depends on the broker. For example IBKR does not do margin calls at all, it's simply automatic liquidation.
IBKR is so sketchy with margin. They advertise that they offer you a metric butt ton of it at really low rates and then get all skeevy about letting you use it. Why yes, I would love to buy well into the 5 figures share counts of ESSC $0.08 above NAV.
In the IBKR sub, someone commented that even on the phone, their own traders couldn't execute his orders. That has nothing to do with the "accounts in chicago and HK" claim, as the trading desk would be directly connected to the exchanges. Seriously looks like they locked people out of trades that were unfavorable to their market maker desk while that desk repositioned.
If you go to the IBKR subreddit, you will see others having the same problem.. apparently their servers at HK and Chicago were having issues. The reason for me to get out of those options so urgently was due to me fat fingered an extra 30 contracts, so you can imagine my panic as I realised my sell orders werent going through.
I think IBKR has some kind of policy of “if you put a limit sell order that is waaaay above market price, we won’t let you because we don’t want you to think you could sell something at C, and then get filled way below that”. However, the policy doesn’t run the other way because, presumably, if you were happy to buy at a certain price, you’re if anything even happier that it got filled below that. I don’t think it’s shenanigans and it has actually saved me from some stupid orders in the past where I was misunderstanding the pricing by a lot
Yeah honestly I can Imagine but you were to arrogant to stop and actually process what I was saying multiple times lol. Love the ragedownvotes before each reply too. Painting a clear picture of the person Im dealing with. Reposting since I edited the previous post: Sure, how do you want me to prove it? I hold shares in Computershare, IBKR, DeGiro and my personal bank. They all originated from a single starting source and have been transferred several times. Instead of transferring I sold, wired the funds and rebought in the process effectively daytrading since the price dipped between selling on platform A and rebuying on IBKR. So to determine my average you're going to need to see my bankstatements over a period of over a year to calculate the money in / money out total and see the number of shares I ended up with. How would you suggest I prove my $65ish average on 572 shares? The spreadsheet in which I keep track wont do. I can fill out anything there. That's not proof. Would you accept a DRS position screenshot for 407 shares (which doesn't list an average buy price) and take that I have the other 165 spread across multiple brokers? Or do you want screenshots for all of them? Honestly asking for suggestions
FUCK YOUR MOTHER VIX Lost 40 bucks because this stupid fucking shit didnt want to fill on 3.60 despite the bid for it being massive. Even tried to sell for 3.50 and nothing. Now after they dip in value I try again and it works. But the bid was 3.30 and they get sold for 3.40 Fuck you IBKR fuck you VIX
So I ditched TD for IBKR for the cheaper prices but fuck man how do you guys day trade with the delayed prices?? Someone have an app they use along with a broker who uses delayed prices that they could suggest for me? Trying to scalp options is not gonna fly like this
No, ACH if done before 11 am California time time, cash is available at 11:59 pm - 12:01 am the same day ( checked many times ). One transfer is free per month, others are just 1dollar per transfer regardless of cash amount to yourbank account. Or open IBKR debit card, cash is available instantly to you including margin.
Sure, how do you want me to prove it? I hold shares in Computershare, IBKR, DeGiro and my personal bank. They all originated from a single starting source and have been transferred several times. Instead of transferring I sold, wires the funds and rebought. So to determine my average you're going to need to see my bankstatements over a period of a year to calculate the money in / money out total and see the number of shares I ended up with. How would you suggest I prove my $65ish average on 572 shares?
As a fellow Canadian, I'd like to offer a suggestion to use IBKR if you're going to play with volatile US stocks. With WS, you're limited to trading hours while the nasdaq trades from 4am to 8pm and if they switch direction after hours, you're screwed. This is a huge disadvantage. You can buy and set sell orders to trigger anytime in PM/AH with IBKR. You can also check their scanners to see what's moving after hours /premarket so you can get a better sense of market sentiment. Trades are basically $1 per 100 US shares. It's not expensive and being able to trade with the US traders will more than make up for it in profits.
>alright, whoever "they" are has capital you and I cannot fathom if they were new positions. Really? unless you are next to get margin called or have a shitty broker I don't understand that. Opening a short position on $MSFT doesn't require huge margin. IBKR just ask me $50 of margin per share of $MSFT to be shorted.
Each broker/account is different. The reason why a lot of WSB types suggest turning it off is not only because they buy crappy stocks for crappy reasons, but also because they use crap brokers who don't give them any cut. IBKR splits the interest with me 50/50. The problem is that most people don't short. The people that short don't often short the great stocks I own. Also there is so much to short that it's not always yours. Plus shorts only pay for shorts they hold overnight. A lot of shorters will short in the morning and close by night.
do u need to have margin to hold cash settled 0 DTE naked long options to expiry? Note the option is fully paid for, with no margin borrowing because IBKR requires margin to hold throughout the day, which is dumb, im looking for alternative brokers
Margin loans would be used if you want to purchase more stock for the most part. I want to use it for other purposes (specifically tax planning), so I can’t use margin loans at most places. IBKR does have the best rates if you want to use margin to increase the value of your portfolio. As far as I could tell, I can’t use the money for my intended purpose through them. Schwab had the best rates I could find and use for the intended purpose.
Only 2 apps needed. Webull and IBKR. Webull for starters and mobile app lovers. Especially the paper trading feature. IBKR for experienced high speed traders using a desktop app. FYI...Short term trading isn't as consistently successful as long-term investing. Taxes, fighting computer algorithms, and PFOF issues. This reddit thread is strongly focused on long-term investing that benefits everyone if they have patience and choose mostly broad funds.
I have my brokerage account at IBKR with 1.09% margin. Had no margin last week. Now have about 8%. Buying into high conviction stocks/funds - VTI, QQQM, TSLA. Not easy to watch your portfolio drop but this is a long term strategy. As the market goes back up I'll pay down the margin until it's gone with income/side hustle. I'm not going to go all in, I don't do options either. There's a happy medium between a bit of leverage and going overboard like other subs that will not be named.
ToS is so basic compared to IBKR. I checked the options and 70% of what I want is missing, stuff like fairly basic order types. Oh, and AMTD sells order flow, something IBKR PRO does not. That's key. So if you're a novice or longer-term trader or investor, ToS is probably great. For everyone else it's a no-go.
I love IBKR because it cares about me. Whenever I place an OTM option order, it stops me with shit like "the limit price exceeds the market price by 147%; are you sure?" Yes mom 🙄 I'm sure I want to buy FD's, just fucking put the order in!
Nobody beats TradingView charts. I use IBKR for everything except charts. I literally don't even have a chart pane in IBKR TWS. They are that useless and bad. And then I just have 12 charts on 2 tabs on TV. IBKR and TV are supposed to integrate in TWS in time but it's taking forever. I pay for real-time data in both as a result. It sucks but it's a necessary evil right now.
Yeah pretty much. Say you have $2k in stocks and $0 cash. You can withdraw $1k cash, and now you'll be on 50% margin. However, if it goes down, all of the losses come out of the 50% you had left to cover, so if it goes down $200 you get a 20% loss rather then a 10% loss, but same if it goes up you get double the gains. Every month, you'll get a tiny bill for the interest rate, and they just take it out of your brokerage account. If it goes down low enough that you break the margin requirement, depends on the broker and the equity you are holding but it's usually like 75%, you get a margin call and they liquidate your position to get their money back. It's generally not a good idea to do this unless you really understand what you are doing Also, you can do this on RH too if you have RH Gold, they have margin rates that compete with IBKR.
Are you implying that my English is bad by asking if I’m ESL? Just like how you implied IBKR should change it’s UI by saying “a button like that SHOULD HAVE triple confirmation”? “Wow you’re so retarded I never literally said X, I’ve only very strongly implied X — can’t believe you think I said X. Go touch some grass. But literally just go touch some grass. Not talking about the idiom “go touch some grass,” which implies you’re retarded.”
Not sure. My trading account with IBKR is via a Trust. So I can't start trading options on there until my Trust holds $100k in funds. Not sure why to be honest... Tastyworks is pretty cheap, $6 a trade from memory? I really don't know. It's more of a fun and learning exercise for me. Kinda hard to see if my moves are good during the current bloodbath though. My AAPL LEAPS is getting slaughtered... of and getting into BTC mining companies was a real smart idea /s.
I’m trained in computer science and TSW makes me feel like a complete uneducated swine. Who the fff designed that horrible piece of UI/UX? And I’m aware IBKR is as close to a professional platform ad retail gets, but jfc, I don’t think they could make it any more unintuitive even if they tried.
LOL the RobinHood mentality always remains strong here. IBKR is a platform for professionals, good execution, great tools, free access to their API which includes live data that you pay for as an IBKR Pro user for regular trading anyway. TWS has all kinds of tools and utility, from backtesting trading strategies, options strategy builders, portfolio analysis tools, news, etc. I mean if you're 99.99% of people here who blindly buy naked options from your phone then obviously its not for you, but saying that the broker has nothing going for it BECAUSE its not for you is hilarious.
Idk man, TWS is really really fast and achieves better execution than TOS and Fidelity. You can also trade A LOT of instruments and the amount of info available is unbelievable. There's a reason they have the biggest average account size and even some smaller hedge funds use IBKR.
TWS is not pretty or easy, but god damn its reliable and has EVERYTHING you need including some heavy market data feeds for options and stocks snd futures. You must put in work on your layouts and dig deep. Im never going to stop using IBKR Pro, it can only get better. Although i suggest TradingView for your charting and analysis because TWS charts will make your eyes bleed.
# Thomas Peterffy of IBKR if you're reading this You motherfucker better rewrite your fucking 1997 style Java desktop app to something more civilized. That fucking thing is actually programmed to be a minefield. I hit esc to close a popup, but it cancels the order under the popup. Order cancel buttons are so fucking tiny, when I mean to cancel one I cancel another at the top or bottom. And the charting, it's again design to the exact opposite of what's intuitive.
Many studies have been posted even to this subreddit. And even trades with some ridiculously low dollar amounts like $100 have always been shown to be better deals on real brokers (like IBKR) compared to "free" brokers (like Robinhood). It's funny that these idiots keep mindlessly repeating "free trades" and then lose on average more than $5 on every $1000 trade compared to real brokers. But what can you expect from people with 80 IQ?
I had an account on degiro. Lost about 15k and not even doing options there lmao. Made an account on IBKR and just scalping $SPY for now and aggressively rebuild my portfolio. Using Macd/RSI to see when reversal is about to happen and just buy options at least 2 days out. Hope this strategy won't blow up in my face hahah
LOL, that is a very polite post for someone with your handle! Mind you, I am not referring to the newer web-based RESTful API that IBKR now offers (I don't use that and doubt that it is anywhere near as powerful as the older FOSS ib_insync Python API developed by Ewald De Wit, which is what I and many others use). Developing in ib_insync is a true challenge but the result is rewarding. If interested, I suggest you first look at some of the Jupyter notebook example code (to see if it is in your wheelhouse) found here: https://rawgit.com/erdewit/ib_insync/master/docs/html/notebooks.html Working backwards from that take a lot of the full documentation set: https://rawgit.com/erdewit/ib_insync/master/docs/html/index.html ... and once become addicted, it is useful to consult with their user's forum: https://groups.io/g/insync Finally, if you commit, you will eventually want to look for certain clues about how things work in this documentation (under the Python tab) BUT WARNING - DO NOT LOOK AT THIS DOCUMENTATION UNTIL YOU HAVE DIGESTED everything above or you will abandon your project screaming and yelling (it's IBKR's own documentation, which is positively awful). The De Wit stuff works really well in Anaconda if you are walking down that path I might add. And you must know Numpy to actually use it for anything (not hard to learn from scratch though if you are not a Numpy-Master). Best of luck! It is a really great but involved Python project.
You should really contact your broker about this because I suspect different houses treat it differently. When I redeemed SRNG on IBKR I fully expected to take an immense margin hit but instead there appeared in my account a non-tradable temporary security that had the value of SRNG the day I send the redemption request. So there was no margin hit at all. I imagine most brokers aren't like that though.
I have traded earnings strangles for more than a decade and often play MSFT because it has the kind of profile that often pays with this kind of trade. Before I forget to say it, an earnings strangle trade is a directionally neutral tail-event bet. Last quarter earnings date Oct 27 (Tue) MSFT you coul