'Palm' pid='21048' datel Wrote:
'katytrader' pid='21046' dateline='<a href="tel:1366304 Wrote:
'Palm' pid='21039' dateline='<a href="tel:1366302 Wrote:Shorts really desperate. Today I received emails for 2 of my IRA accounts; Schwab is asking for more shares to be made available for lending. Crazy thing is that these accounts don't hold all that many shares. Scraping hard for shares. Plus I didn't think shares held in an IRA account are eligible for lending. Shorts doing all they can to keep lid on this thing. Must be another article coming out later today or tomorrow. OE is tomorrow.
Schwab just told me that shares held in an IRA are not eligible for share lending. Shares held in an account which is all paid and even in a margin account with a cash balance they would not lend ...UNLESS......the account holder explicitly signed up for the share lending deal.
katytrader
Yep, just got same answer, yet they sent a request on these 2 IRA accounts. Seems they'd be more careful. Will be some people who try and sign up then get told sorry. Bad move Chuck
As a footnote, the Schwab fellow did allow that were the shares held in a margin account in which margin was being used, they might lend the shares, but would recall the lent shares were the acccount to wing back to having a positive cash balance. This need to keep things tidy might account for some of the trolling.