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re: Anyone see this story about CYNK?
Posted on 7/12/14 at 10:59 am to Iowa Golfer
Posted on 7/12/14 at 10:59 am to Iowa Golfer
CYNK was (is) 100% long/short. Rates determined by broker.
If you shorted 100 shares at 13.90, it would likely take a combined total of $13K in margin to complete this trade. On my account to buy 13K of margin would cost about $510 in cash as it would result in a house call of this amount. You'd pay interst on the cash excess and margin excess. They'd reserve cash and securities to ensure you could buy to cover at whatever ratio the house determines. In this case on my account, 10X the short due to the degree of risk in the trade.
Back to Scott Trade. They could have an issue allowing a guy like this to short a stock like this.
If you shorted 100 shares at 13.90, it would likely take a combined total of $13K in margin to complete this trade. On my account to buy 13K of margin would cost about $510 in cash as it would result in a house call of this amount. You'd pay interst on the cash excess and margin excess. They'd reserve cash and securities to ensure you could buy to cover at whatever ratio the house determines. In this case on my account, 10X the short due to the degree of risk in the trade.
Back to Scott Trade. They could have an issue allowing a guy like this to short a stock like this.
1
Posted on 7/12/14 at 11:03 am to Iowa Golfer
Unless he has portfolio margin. But I doubt it at 12%.
He's lucky he's with Scott Trade which is a fairly basic site. If he was with IB, they could, and might start immediate liquidation.
He's lucky he's with Scott Trade which is a fairly basic site. If he was with IB, they could, and might start immediate liquidation.
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