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Non-Tech : Waterhouse Securities
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To: upanddown who wrote (638)8/1/1998 9:00:00 AM
From: Thean  Read Replies (1) of 2076
 
John, now that you mentioned option, that is the screwy part. If you check your webbroker site, your option equity never shows up unlike the monthly statement. The best way to find out buying power, margin maintainence, etc. is to call your local branch and have them sort it out for you. Webbroker's "account balance" is unreliable when you have option as well - another shortcoming of webbroker.

"collateral requirement increases/decreases depending on the current market value of the shorted security."

If your collateral is a marginable stock, then if that stock falls, your buying power or "net equity worth" would decrease. If as a result of that fall your margin no longer meet the 35% maintenance requirement, you will get a phone call from the branch to alert you as to your margin situation. It has been years since I got a margin calls so I don't know if a live broker still call you nowsaday versus getting a surprise in the form of a urgent mail or telegraph (does it still exists?).
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