What happened to the ES around September/October of last year? It had a massive drop over the course of 30 days, almost 200 points from 2015 to 1813. Reason I ask is that people keep saying the S&P hasn't had a 10% drop or correction in years but that looks like 10% in my book. Did I miss something now that I'm a canuck?
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The following user says Thank You to rsm005 for this post:
This is an update to my previous post regarding a problem at OptionsXpress I wrote about. The problem is the account balances page is displaying initial margin requirements for open positions that are ten times the correct requirements in excess of the net liquidating value of the account and freezing the account.
I received an update from Options Xpress customer service today. They now state the problem does in fact affect multiple customers with accounts trading short futures options. They believe the problem is related to incorrect data from certain servers and they are trying to direct these accounts to certain other servers that are providing the correct data. The problem has not been fixed yet however.
Based on the zero response I have seen on this board related to this issue, I will assume no one is noticing this at optionsxpress, so unless anyone seems to notice this in their acccount I will not post further on this issue.
That being said their handling of this issue has caused me to lose confidence in this broker and their ability to understand their own systems so I will probably close my account there as a result.
Many of us that were at OX no longer trade there. Their quality of service has declined since being bought by Charles Schwab.
I had identified a problem with their Trade Calculator and the way they calculate margin in your account on the first short option in your account in 2009. I finally got an employee to agree with me. I got a VP to say they would fix it. But when Schwab bought them the VP left and it was never fixed. They said they were too busy with the takeover and the problem was very complicated to fix. That and other problems caused me to leave them.
I am now with DeCarley Trading and her customer service is the best I have ever seen. Gain, the FCM I am using through her, has had a few minor issues, but they do get fixed with Carley doing all of the calling to them. I highly recommend her.
The following user says Thank You to ron99 for this post:
@rleplae just posted an interesting Tasty Trade video in his journal that discuss's the VIX and a short ES option strategy over the last 13 years. Interesting (and quick) watch for all you ES Option sellers.