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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: OpusX who wrote (2742)7/28/1999 9:23:00 PM
From: Phil(bullrider)  Read Replies (1) | Respond to of 19428
 
Robert,

No question is stupid.

Don't you need 2 brokers to box, at Datek If I buy the stock it covers my short Iwould really appreciate any advice on how to box shorts for instance CUST comes to mind

In reality, it really doesn't matter whether or not you use the same broker.

If you are short 1,000 shares of CUST with E-Trade for example, and E-trades web page is down, and the stock starts moving against you, call your friendly full service broker, or log onto your Ameritrade account.

If you go long 1,000 shares of CUST, to box, you are locked in.

No matter which broker could fill your order.

The only difference would be your commissions.

Have fun,
Phil



To: OpusX who wrote (2742)7/28/1999 9:23:00 PM
From: Sir Auric Goldfinger  Read Replies (2) | Respond to of 19428
 
Boxing is not something one can easily do with an electronic account to my knowledge. but if you communicate your intention to a broker with a standard account, it would be typical to only have it at one firm. That way you get more cash released since the long cancels the short side obligation. Most firms then reduce the margin requirement to 5%, some don't require any ;o. More dough to play with.


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