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| Tom: the following is what should be done on DAS if any of the order situations occur as you put in your examples. Great job for explaining it in full detail. Please keep this format or setting as is on DAS and I'll show this article to Speedtrader for them to stick with this rule. There is only one last thing I'd like to check with you back here: Have you already changed the BOX setting, so now it is not the way you discribed here in detail? I want to make this sure before talking to Speedtrader. Thanks. Lei Original post: Box position. When customers want to maintain a long and a short position of a symbol at the same time, they can use the box position feature. If the checkbox BOX (on the right side of a montage window, stretch it rightward if you can not see it) is not checked, a trade will first cover the position, then open a new position, otherwise, the trade will not cover the position, instead, it will open a new position. For example: Suppose a customer has 100 shares of MSFT long, If the BOX is unchecked and the customer tries to sell 100 shares of MSFT, after this trade, customer will be flat, that is, the SELL 100 shares covers the position first. If the BOX is checked and the customer tries to sell 100 shares of MSFT, after this trade, the customer will have 100 shares long position and 100 shares of short position,------ it is boxed, the trade will not cover the long position. Example2: Suppose a customer has 100 shares of MSFT long. If BOX is unchecked and the customer tries to sell 200 shares of MSFT, after this trade, s/he will have 100 shares short, that is, it first covers the 100 shares long position, the remaining shares goes to short position. If BOX is checked and the customer tries to sell 200 shares of MSFT, after the trade, s/he will have 100 shares long and 200 shares of short, --- the trade will not cover the long position. Example 3: Suppose a customer has no shares. If s/he tries to send a BUY 100 shares MSFT order, it will always end up with 100 shares long no matter s/he checks the BOX or not. Example 4: Suppose a customer have 100 share long and 200 shares short on MSFT. If the Box is checked and s/he placed a 200 shares buy order, after the trade, s/he will have 100+200=300 shares long and 200 shares short,---- the trade will not cover the short position. If the Box is unchecked and s/he placed a 200 shares buy order, after the trade, s/he will have 100 shares long only, --- the 200 shares buy will cover the short position. To flat a box position, a customer need to uncheck the box and place two orders, one to cover long one , another to cover the short one. |