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Strategies & Market Trends : Option GEMS - Hot Options in Booming Companies...
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To: Fred Weiss who wrote (101)7/27/1997 6:18:00 PM
From: Glenn D. Rudolph   of 396
 
I had a similar experience at Waterhouse/WebBroker when they issued a margin call on me for "daytrading". As they explained it to me, my normal margin percentages had not been exceeded but different percentages applied to accounts that bought and sold a stock in the same day. I told them to shove it or close my account. They backed off. Trader, My problem is why they do not ask for a margin or initial call. I would be happy to meet it. The "funny part" was I brought this to their attention when I asked why their web screen did not show buying power so I could calculate what amount of an initial call I was going to receive. I had done this trading in the past and never received a letter. The letter I received was dated the day I called with my question. They would not even have known about it if I left well enough alone. Glenn
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