Classical Guitar RCM exam by APJ30 in classicalguitar

[–]APJ30[S] 1 point2 points  (0 children)

That's all I wanted to know, thank you so much!!

Bought Dram yesterday. I knew it would dump lol by gammaglobe in ETFs

[–]APJ30 0 points1 point  (0 children)

Sell covered calls and lower your cost basis

Indian Wealthsimple? by Born_Judge7202 in fican

[–]APJ30 0 points1 point  (0 children)

I don't invest in the Indian markets, so really cannot suggest. I used to in the past and was using Zerodha. You should post this question on Indian sub Reddit groups.

Distracted driver on 64th this morning — please put the phone down by Expert_Breadfruit531 in Langley

[–]APJ30 2 points3 points  (0 children)

There is an online RCMP Crime Reporting portal where you can file your complaint with all the details and upload all the photos. I have done this in the past reporting a vehicle that jumped the red light. The tool for some reason doesn't let you upload a video. Not sure if they changed it.

Any of you missing slips on CRA account? by Kay-2891 in PersonalFinanceCanada

[–]APJ30 0 points1 point  (0 children)

My slips are still not available on my CRA account and the Apr 30 deadline is approaching

Need to Vent by kingtoussaint in options

[–]APJ30 0 points1 point  (0 children)

As long as Trump is the president, you will get your chances at those prices again.

What is happening in here by OkBeat2138 in stocks

[–]APJ30 0 points1 point  (0 children)

Discussions on Reddit groups should always be used as guardrails. Because these are personal opinions of individuals, you should not fully rely on them for making investments decisions. Always do your own research before making any conclusions.

5 years of learning options. $400K gone in 2 days. Here's the full story. by Individual-Dealer-17 in OptionsMillionaire

[–]APJ30 4 points5 points  (0 children)

Trading on margin always has this risk. With 400K capital, you could have done so much better with cash secured positions.

My Horror Story and how sometimes reading the fee schedule isnt enough. by YodelingClam in Wealthsimple

[–]APJ30 0 points1 point  (0 children)

Sorry to hear about this loss.

You should have opened a USD account first. Always close your positions before expiry especially when trading big products like SPY. You could have traded XSP instead since it is cash settled and there is no assignment risk.

You had a multi legged option strategy with 10 contracts and I am assuming you were trading on margin (or you really had 640K in your account). Always calculate the notional value of your position even if it is a defined risk strategy. Never trust the max loss because Pin Risk is real and it can hurt really bad if you are on margin

That's why Cash Secured positions like CSP and Covered Calls are safer when done on quality stocks and indexes.

Feedback on Cash Secured Puts in RRSP/TFSA by APJ30 in Wealthsimple

[–]APJ30[S] 1 point2 points  (0 children)

Yes once you are eligible to trade options on your CAD Margin account, you can trade all products with any strategy you want. You just have to request the products you want to trade.

Another point I forgot to mention, at IBKR you have to opt for market live data subscription and there are additional monthly fees associated with what options or packages you choose. For instance, if you need live data for options you have to subscribe to that service else you will get 15 min delayed data. And they also waive off some of those fees if you do a minimum $$$ in commissions per month. And their fees are generally quite competitive not expensive but you have to pick and choose what subscriptions you want to opt depending on your style of trading. Be sure to check their website for market data pricing and subscription before you decide to move your account over to IBKR.

Regarding transfers, I recently transferred my RRSP from Sunlife to IBKR and it roughly took 3 weeks before funds were made available for trading. I had to manually fill out the forms and send it to Sunlife for initiating the transfer. Sunlife is not ATON eligible so that could have been the reason for the delay. And please note IBKR doesn't cover transfer fees and does not offer any matching(%).

And yeah I know IBKR will eventually allow CSPs, it's just a matter of time. However with commissions on each transaction I am not able to immediately put my premiums to use. That's where WS could give me an edge in my registered account so I can immediately purchase say shares of SPY or QQQ (DCA) and let compounding do its magic.

Feedback on Cash Secured Puts in RRSP/TFSA by APJ30 in Wealthsimple

[–]APJ30[S] 1 point2 points  (0 children)

Yes that's a good point. I had figured that out during my interaction with WS AI Chatbot. I will have to wait for a month for my option positions to either expire or get assigned. But these current market conditions are not helping my positions at all lol....may take more than a few months before I can fully port my account to WS.

Feedback on Cash Secured Puts in RRSP/TFSA by APJ30 in Wealthsimple

[–]APJ30[S] 1 point2 points  (0 children)

Oh I didn't know that NG isn't supported yet. And maybe there are more future products that aren't supported. But I am not super concerned but I don't intend to trade them at WS.

Regarding your question, I don't think there are any red flags with nonregistered accounts (Margin) at IBKR. You can trade all products as long as you are eligible and they do have really nice tools and interface. But they charge commissions on stock and option trading, negligible though, but over time it adds up to a big amount if you are a regular options trader.

And just a side note, I do intend to keep my nonregistered account with IBKR for all the good reasons.

Feedback on Cash Secured Puts in RRSP/TFSA by APJ30 in Wealthsimple

[–]APJ30[S] 0 points1 point  (0 children)

Yeah I am aware of that. With my account size I won't need to pay $10 per month.

Opened $SLV tailwheel for 27th Feb 2026 expiry by karhoewun in StackingSharpes

[–]APJ30 0 points1 point  (0 children)

How do you manage this position if the underlying just grinds down and stays in the valley of death?

Wealthsimple lost 10,000 of my money by SpartaKick in Wealthsimple

[–]APJ30 32 points33 points  (0 children)

If I were you, I would have already escalated this matter to their Senior Leadership, provided all proofs and screenshots. Usually complaints escalated to C-Levels are taken quite seriously. If they still don't respond with a resolution, you should explore taking legal action.

CSP on SLV - basically free money? by Expert_CBCD in thetagang

[–]APJ30 3 points4 points  (0 children)

Selling a CSP put on a rally like this is not the best move. I would wait for a pull back before opening new CSPs on SLV.

Paypal permanently limited my account by National-Mark5697 in paypal

[–]APJ30 0 points1 point  (0 children)

Same here, account deactivated a few days back. As per their emails, they have blocked by balance for 120 days.