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That would block all margin trades, no? Not a specific instrument. I understand why they did it, but it leaves a very bad taste in my mouth.
by aynyc 6y ago
That would block all margin trades, no? Not a specific instrument. I understand why they did it, but it leaves a very bad taste in my mouth.
- kgwgk 6y agoThey can set margin requirement separately for each stock. For example, with InteractiveBrokers "long stock positions [of AMC, BB, EXPR, GME, and KOSS] will require 100% margin and short stock positions will require 300% margin until further notice". https://twitter.com/IBKR/status/1354792600004386818 https://twitter.com/IBKR/status/1354792600004386818
- aynyc 6y agoI get that part, but why would 100% margin on buys eliminate the buys? If I have $100K cash, I can still buy $50K of XXX and meet the margin requirement. They are blocking buys, but not sells.
- kgwgk 6y agoWho is blocking buys? The context of this subthread is this message https://news.ycombinator.com/item?id=25942677 https://news.ycombinator.com/item?id=25942677 about brokers allowing the buying of GME but not on margin (and how they don't have to disallow the use of margin for every stock for that).