If you want to have some fun, try putting in an order to buy SCHGF (go well under the current market), the Schwab July 30 calls. It recognizes it as 'Scotia Holdings ORD PLC'. Worse, the brokers can't even place an order for that strike unless you want to wait while they do it manually (literally, call the order to their option order desk and then they call the floor broker who then calls the floor...and forget about a confirmation; system can't handle it). This isn't something out 6 months, either, this is the front month!! The fix they recommend is to use the CESGF series where each contract is worth 150 shares. "I want to sell 10 or cover 1000 shares." Their solution: buy another 50 shares and sell 7!! A rep actually told me that!!!
Yes, boating is absolutely automatable as their subsidiary, CyberCorp, has proven. In fact, they actually turn it off at times (open & close) so the question is 'why do it at all'? If I want to 'game' their system, I and probably any customer so interested, knows to do it at those times so, other than providing some jobs, what purpose does it serve?
Finally, today's bitch: I bought some INSP the 1st half hour at around 59...I smartly called a rep when it hit 58 and he confirmed I would be filled. A half hour later I went to sell at 62 and they wouldn't let me as no confirm was in on the original buy despite the rep acknowledging my earlier phone call. This was a retirement account so no shorting allowed. As I type, I still don't have a confirm on the buy. |
