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Tuesday, October 23, 2012 4:08:28 PM
Schwab makes me fill out "Risky" forms just to buy pennies. When I asked them about shorting, "NO. We do not allow shorting penny stocks in your account." (Or something along those words.)
I even asked E-trade among others, none of them will let me short pennies.
The only short positions which my brokerage firm will allow me to place are "covered calls" and "naked puts" using Type 4 margin. And NO NO NO, never placed any short positions what so ever. Never have and never will. Unlimited downside with limited upside.
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