Comments on: Is Thinkorswim Now Charging Fees On Hard-To-Borrow Stocks? http://www.timothysykes.com/2008/09/is-thinkorswim-now-charging-fees-on-hard-to-borrow-stocks/ How To Trade Penny Stocks Without The Stock Promoter BS Thu, 09 Feb 2012 06:11:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Allen Mass http://www.timothysykes.com/2008/09/is-thinkorswim-now-charging-fees-on-hard-to-borrow-stocks/comment-page-2/#comment-159358 Allen Mass Fri, 24 Dec 2010 06:23:00 +0000 http://www.test.timothysykes.com/?p=1890#comment-159358 There is no way to determine which stocks are shortable. You must enter a short order and if it is rejected then that stock is not shortable at the present time. There is no way to determine which stocks are shortable. You must enter a short order and if it is rejected then that stock is not shortable at the present time.

]]> By: Paul http://www.timothysykes.com/2008/09/is-thinkorswim-now-charging-fees-on-hard-to-borrow-stocks/comment-page-2/#comment-33401 Paul Mon, 15 Jun 2009 15:57:47 +0000 http://www.test.timothysykes.com/?p=1890#comment-33401 FWIW, I stopped getting hit with this short stock fee as of 6/10/09. Not sure why but hope it's gone now! FWIW, I stopped getting hit with this short stock fee as of 6/10/09. Not sure why but hope it’s gone now!

]]> By: Paul http://www.timothysykes.com/2008/09/is-thinkorswim-now-charging-fees-on-hard-to-borrow-stocks/comment-page-2/#comment-77042 Paul Mon, 15 Jun 2009 15:57:47 +0000 http://www.test.timothysykes.com/?p=1890#comment-77042 FWIW, I stopped getting hit with this short stock fee as of 6/10/09. Not sure why but hope it's gone now! FWIW, I stopped getting hit with this short stock fee as of 6/10/09. Not sure why but hope it’s gone now!

]]> By: Paul http://www.timothysykes.com/2008/09/is-thinkorswim-now-charging-fees-on-hard-to-borrow-stocks/comment-page-2/#comment-33400 Paul Sun, 07 Jun 2009 13:01:38 +0000 http://www.test.timothysykes.com/?p=1890#comment-33400 Tim ... both Bozak and I are seeing interest charges in the 2%-9% range (in today's 0.2% (3Mo) T-Bill environment that's quite a hurdle rate for shorting easy to borrow stocks. If only trade intraday and don't hold shorts overnight or of significant size that's a different story. It really changes the whole equation if you want to short a stock or industry that you expect to trend down over the next 3-6 months... Tim … both Bozak and I are seeing interest charges in the 2%-9% range (in today’s 0.2% (3Mo) T-Bill environment that’s quite a hurdle rate for shorting easy to borrow stocks. If only trade intraday and don’t hold shorts overnight or of significant size that’s a different story.

It really changes the whole equation if you want to short a stock or industry that you expect to trend down over the next 3-6 months…

]]> By: Paul http://www.timothysykes.com/2008/09/is-thinkorswim-now-charging-fees-on-hard-to-borrow-stocks/comment-page-2/#comment-77041 Paul Sun, 07 Jun 2009 13:01:38 +0000 http://www.test.timothysykes.com/?p=1890#comment-77041 Tim ... both Bozak and I are seeing interest charges in the 2%-9% range (in today's 0.2% (3Mo) T-Bill environment that's quite a hurdle rate for shorting easy to borrow stocks. If only trade intraday and don't hold shorts overnight or of significant size that's a different story. It really changes the whole equation if you want to short a stock or industry that you expect to trend down over the next 3-6 months... Tim … both Bozak and I are seeing interest charges in the 2%-9% range (in today’s 0.2% (3Mo) T-Bill environment that’s quite a hurdle rate for shorting easy to borrow stocks. If only trade intraday and don’t hold shorts overnight or of significant size that’s a different story.

It really changes the whole equation if you want to short a stock or industry that you expect to trend down over the next 3-6 months…

]]> By: Timothy Sykes http://www.timothysykes.com/2008/09/is-thinkorswim-now-charging-fees-on-hard-to-borrow-stocks/comment-page-2/#comment-33399 Timothy Sykes Sat, 06 Jun 2009 13:29:21 +0000 http://www.test.timothysykes.com/?p=1890#comment-33399 I've paid $8 in fees over 6 months, its irrelevant I’ve paid $8 in fees over 6 months, its irrelevant

]]> By: Timothy Sykes http://www.timothysykes.com/2008/09/is-thinkorswim-now-charging-fees-on-hard-to-borrow-stocks/comment-page-2/#comment-77040 Timothy Sykes Sat, 06 Jun 2009 13:29:21 +0000 http://www.test.timothysykes.com/?p=1890#comment-77040 I've paid $8 in fees over 6 months, its irrelevant I’ve paid $8 in fees over 6 months, its irrelevant

]]> By: Bozak http://www.timothysykes.com/2008/09/is-thinkorswim-now-charging-fees-on-hard-to-borrow-stocks/comment-page-2/#comment-33398 Bozak Sat, 06 Jun 2009 13:28:04 +0000 http://www.test.timothysykes.com/?p=1890#comment-33398 TOS now charges short stock fees for all shorts held overnight, not just the hard to borrow stocks. The interest rates for the stocks I am shorting range from 2.5% to 9%. They also won't tell you ahead of time how much the interest rate will be, it is all day after charges. To get the list of rates you have to email and ask, nothing available in the software. Tim, what is your take on this? I have used TOS for about a year now, but these fees are really starting to add up. Do you know how the TOS short stock interest fees compare to IB? TOS now charges short stock fees for all shorts held overnight, not just the hard to borrow stocks. The interest rates for the stocks I am shorting range from 2.5% to 9%. They also won’t tell you ahead of time how much the interest rate will be, it is all day after charges. To get the list of rates you have to email and ask, nothing available in the software.
Tim, what is your take on this? I have used TOS for about a year now, but these fees are really starting to add up. Do you know how the TOS short stock interest fees compare to IB?

]]> By: Bozak http://www.timothysykes.com/2008/09/is-thinkorswim-now-charging-fees-on-hard-to-borrow-stocks/comment-page-2/#comment-77039 Bozak Sat, 06 Jun 2009 13:28:04 +0000 http://www.test.timothysykes.com/?p=1890#comment-77039 TOS now charges short stock fees for all shorts held overnight, not just the hard to borrow stocks. The interest rates for the stocks I am shorting range from 2.5% to 9%. They also won't tell you ahead of time how much the interest rate will be, it is all day after charges. To get the list of rates you have to email and ask, nothing available in the software. Tim, what is your take on this? I have used TOS for about a year now, but these fees are really starting to add up. Do you know how the TOS short stock interest fees compare to IB? TOS now charges short stock fees for all shorts held overnight, not just the hard to borrow stocks. The interest rates for the stocks I am shorting range from 2.5% to 9%. They also won’t tell you ahead of time how much the interest rate will be, it is all day after charges. To get the list of rates you have to email and ask, nothing available in the software.
Tim, what is your take on this? I have used TOS for about a year now, but these fees are really starting to add up. Do you know how the TOS short stock interest fees compare to IB?

]]> By: Paul http://www.timothysykes.com/2008/09/is-thinkorswim-now-charging-fees-on-hard-to-borrow-stocks/comment-page-2/#comment-33397 Paul Wed, 08 Apr 2009 12:56:58 +0000 http://www.test.timothysykes.com/?p=1890#comment-33397 I started seeing short stock fees on March 18th. They show up daily, and when I calculate it out it amounts to an annualized cost of between 2% and 8% of the value of the short. For a day trader that might be negligible but since I take 3-12 month positions it certainly adds up. Here's the kicker I recently closed all my short positions except QQQQ and SMH and I'm still getting dinged in the 3% annualized range. Obviously those names are not hard to borrow! Can anyone else confirm whether you started seeing fees on March 18th? I started seeing short stock fees on March 18th. They show up daily, and when I calculate it out it amounts to an annualized cost of between 2% and 8% of the value of the short. For a day trader that might be negligible but since I take 3-12 month positions it certainly adds up. Here’s the kicker I recently closed all my short positions except QQQQ and SMH and I’m still getting dinged in the 3% annualized range. Obviously those names are not hard to borrow!

Can anyone else confirm whether you started seeing fees on March 18th?

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