TD AMERITRADE FORCES USERS TO LIQUIDATE POSITIONS
By: Matthew Schultz
In an email sent out to its users, TD Ameritrade announced that it was forcing people to liquidate their options positions on January 29 by 1:00PM EST before the market closes.
This move by TD Ameritrade could force users out of their chosen strategy, or force users to buy back worthless option contracts that would otherwise expire, costing users some of their profits. Additionally, TD Ameritrade is claiming that users can now sell covered calls, but in a test with Nokia stocks, the transaction is still being rejected.