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Interactive Brokers now blocking purchase call and put options (even to institutional investors!) on $GME, you can only close a position. On the other side, Ro

by rvnx 6y ago

Interactive Brokers now blocking purchase call and put options (even to institutional investors!) on $GME, you can only close a position. On the other side, Robinhood is asking for account to be funded with cash to execute the calls at expiration, or else they will liquidate your position :|

Schweigi 6y ago
I just tested it with IBKR and was able to create a call buy order (exp 1/29, $500 strike) for a single contract. Info: Market was closed so the order wasn’t executed but it was accepted by the order system before i cancelled it.
- rvnx 6y ago
  I have a message: "Transactions in this instrument are limited to closing-only trades" @ Jan29'21 300 CALL GME.
  - Schweigi 6y ago
    You’re right. I get the same message for Jan 29’31 300 CALL but do not get the message for the $330 or $500 strike. Looks like its only for ITM strikes.
    - rvnx 6y ago
      This is sad indeed :(
- aynyc 6y ago
  I don't know IBKR's system, but most OMSs will accept an order unless it's blatantly wrong such as invalid stock. It's the execution engine that really enforce the rules.
- leonroy 6y ago
  Tested IBKR today - I was able to place a simple Limit order for GME stock which was good till close but when I refreshed to view my list of orders it shows as Cancelled. Tried it twice, did the same thing each time.
akvadrako 6y ago
This is much more signifiant than Robinhood because IBKR is one of the most professional trading platforms available for retail investors. Some more info: https://twitter.com/IBKR/status/1354792600004386818 https://twitter.com/IBKR/status/1354792600004386818
firebird84 6y ago
That last sentence is extremely scary. Do you have a source?
- rvnx 6y ago
  https://www.reddit.com/r/wallstreetbets/comments/l6plv0/robinhood_announces_you_can_no_longer_open_gmeamc/ https://www.reddit.com/r/wallstreetbets/comments/l6plv0/robi... (unless I misunderstood something)
MrMan 6y ago
this is a risk management move for RH, nothing else
- gmethowaway 6y ago
  If it's just risk management, why IB doesn't allow to buy 1 GME stock on non margin account?
gmethowaway 6y ago
It's not only about options. You can't buy even 1 stock of GME on non margin account. I don't understand how it has anything to do with IB risk management.

by rvnx 6y ago

Schweigi 6y ago

I just tested it with IBKR and was able to create a call buy order (exp 1/29, $500 strike) for a single contract. Info: Market was closed so the order wasn’t executed but it was accepted by the order system before i cancelled it.

rvnx 6y ago
I have a message: "Transactions in this instrument are limited to closing-only trades" @ Jan29'21 300 CALL GME.
- Schweigi 6y ago
  You’re right. I get the same message for Jan 29’31 300 CALL but do not get the message for the $330 or $500 strike. Looks like its only for ITM strikes.
  - rvnx 6y ago
    This is sad indeed :(
aynyc 6y ago
I don't know IBKR's system, but most OMSs will accept an order unless it's blatantly wrong such as invalid stock. It's the execution engine that really enforce the rules.
leonroy 6y ago
Tested IBKR today - I was able to place a simple Limit order for GME stock which was good till close but when I refreshed to view my list of orders it shows as Cancelled. Tried it twice, did the same thing each time.

akvadrako 6y ago

This is much more signifiant than Robinhood because IBKR is one of the most professional trading platforms available for retail investors. Some more info: https://twitter.com/IBKR/status/1354792600004386818 https://twitter.com/IBKR/status/1354792600004386818

firebird84 6y ago

That last sentence is extremely scary. Do you have a source?

rvnx 6y ago
https://www.reddit.com/r/wallstreetbets/comments/l6plv0/robinhood_announces_you_can_no_longer_open_gmeamc/ https://www.reddit.com/r/wallstreetbets/comments/l6plv0/robi... (unless I misunderstood something)

MrMan 6y ago

this is a risk management move for RH, nothing else

gmethowaway 6y ago
If it's just risk management, why IB doesn't allow to buy 1 GME stock on non margin account?

gmethowaway 6y ago

It's not only about options. You can't buy even 1 stock of GME on non margin account. I don't understand how it has anything to do with IB risk management.