Australian (ASX) Stock Market Forum

Brokers mistake or my inexperience?

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Corbs

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27 August 2010
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Hi,
I have recently been exercised on 6 naked puts with 1000 shares per contract, so I expected to wake up to see 6,000 shares in my account ready to sell for a loss. The thing is, i was suprised to see double the amount, with 12,000 shares in my portfolio. Being confused I checked my trading history, and it says they only bought 6,000. This is the first time i've been exercised, so i'm not sure if this is normal or if there is 6,000 unaccounted for shares in my account?

Any help would be appreciated,

Corbs
 
Totally agree with Cutz. This is something you need to sort out with your broker. In my experience, these things are usually sorted out quite quickly - either it's a glitch on their part which they should fix or they will explain what has happened.
 
and ps;

if you know you are going to get exercised, and you dont intend to keep the shares, consider buying the puts back (or rolling out) before expiry. Its usually cheaper than the brokerage costs involved in buying and selling at telephone rates.......

(assuming an australian broker)
 
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