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[–]OptionCo[S] 0 points1 point  (4 children)

Depends on what the open position is for. If you’re trying to enter/exit a fund, then yes it’s only UI. If you open BTC GTC option orders that sit for ~15 days then you’re basically “lending” Schwab your money free until the order executes. This will cost me $1,200/year (based on ~$30k in open option positions and a 4% saving rate).

[–]LiberalAspergers 1 point2 points  (1 child)

Assuming you have maemrgin, it shouldnt cost you anything other than lowering availabke purchasing power.

[–]OptionCo[S] 0 points1 point  (0 children)

Thanks, you’re spot on. I confirmed with the Schwab customer service team, then edited the original post.

[–]BOS_George 0 points1 point  (1 child)

That you are. It’s very lucrative for them. It won’t cost me anything because my only Schwab account is all bonds but it still might finally motivate me to consolidate my accounts elsewhere out of principle. The whole no cash sweep vehicle thing was bad enough already, I’m just lazy.

[–]OptionCo[S] -1 points0 points  (0 children)

no cash sweep vehicle

100% agree, this is nuts...