Hi folks, I got a message from my brokerage firm for large trader id. Anyone has the experience on this in past or how did you dealt with it. Any experiences or inputs are helpful
Yep, I basically had to choose the longest length username available. I just chose the alphabet: abcdefghijklmnopqrstuvwxyz
You traded 200 million dollars in a month? Please.
Haha no you didn't.
Apparently if you're trading options you could easily hit the daily limit of 20 million because they calculate the dollar value not on pure premium traded but the actual value if you excercised the calls or puts. When I say easy that's relative obviously.
That’s not accurate. Unless you’re selling naked options.
That I don’t know. Just bought and sold options where my calculation stopped and I got the message. Thus was confused
Yea this is easy to get triggered on. For example last month I bought 75k in options. The dollar value according to the sec for this is 7.5M. If I had done this trade 3 times (even at no profit each time) this would trigger the large trader thing even if no option exercise happens.
Oh ok. Good to know. But if someone does not trade options but only does day trading. What are the chances for it to hit the same scenario.
Guys this is an important topic to discuss. Please comment.
Large trader Id