E*Trade (NYSE:ET) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : E*Trade (NYSE:ET)

ET 16.44

+1.0%

Nov 26 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Roger Bodine who wrote (12594)	3/16/2000 10:43:00 AM
From: Jim B	of 13953

just for example... today I called etrade to find out how many March 90 calls of AMAT I owned (it just split 2 for 1)... the website said I had 4... (yesterday I had 2)... i asked the etrade broker if I really had 4 or if I just had 2?? he said I only had 2.. i thought about it and called back.. got another broker who also said I only had 2... meanwhile AMAT moved up over $90 and I was in the money.. so I called back to place an order and the broker told me I should talk to reorg... by the time I got reorg on the phone and they told me i ACTUALLY HAD 4 CONTRACTS.. not 2 (despite two other reps telling me so)... the calls were no longer in the money and are now practically worthless.. cost me $900 because they couldn't tell me right away whether I had 2 or 4. like I said.. when etrade screws up.. they screw up big time.. you watch though.. if AMAT goes back up and I sell 4... they'll come back in a few weeks and tell me that option contracts don't split 2 for 1 in number.. because the price adjusts down with the new strike price proporionately... and then they'd probably ask me to cover. I've got quite a few stories like this one... they cost me thousands of dollars last year... but I use them anyway because based on my experience elsewhere.. I'll end up losing even more with someone else jim ps.. glad your experience has been good.. but anyone who trades with any regularity (50 trades per quarter) or more knows what I"m talking about... last year I averaged 150 to 200 trades PER MONTH! This year much less because I'm getting tired of trading. Still, I own EGRP stock and believe the company will be a winner.. they just are growing too fast for themselves. Which is fine with me as a shareholder.. now if only the stock would grow just as quickly.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next