Be aware. Ameritrade falsely assigned me a naked short sell of 20 options with a value of -105,000.

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by spastichabits

I owned 10 long options, with a strike price of 48. I closed those 10 options on Friday. My account registered nothing unusual. However, this sell to close order was processed 3 times for a net sell of 20 naked calls at 48. Despite the fact my account is not cleared for naked selling of options. However this did not appear anywhere in my account until the weekend.

On Sunday I was told I was assigned a 2000 short position on the stock as 20 naked calls were assigned to my account.

When I checked my filled orders, everything looked normal. However, when I checked my history my sell to close transaction was processed 3 times, with a transaction corrections notation. Even though all 3 were listed as sell to close.

I called on three different occasions, all three of those times they said there was bug, and they would have it fixed before market opens on Tuesday.

It was not fixed, the market opened and closed, strange things happened in my account, but nothing got fixed.

Called again and they were less than helpful, telling me I now had to file a claim or talk to people who were currently unavailable. They have made no attempt to contact me, and given me no guidance on what I should do with this giant short position in my account, which I do not have the financial means to close.

I have proof in the form of screen shots, not to mention my account is not allowed to sell naked options in the first place.

If you use TD Ameritrade, be very careful right now.

*reworded for clarity.

EDIT#1 Talked to someone from Margin claims. First person who seemed to know what was going on. They said it was a error with experation processing. That once again they will be trying to do a patch today and hope it fixes it, they have tried several patches and many clients are still effected. That the position is not a real position, but a reporting issue. That I should under no circumstances try to close the position as it is not real. It was helpful, but seeing this bomb in my account losing money is still stressful.

Edit #2. Talked to someone today who said it will be manually fixed today. A few hours ago, still not fixed, but hopeful.

Edit# 3. Problem seems to finally be fixed, but will have to look and see if it all adds up.


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