Overview:
Account holders receiving the following message "At the moment, orders for this contract are only accepted if they are close or reduce open positions. Please contact Client Services for assistance" will not be able to place orders that would open or increase positions in the specific security.
This restriction, referred to as a closing only restriction, may be applied for a number of reasons including the following;
- Certain equity options series may be placed in a closing only state by options exchanges for various reasons
- We may choose not to allow trading in certain securities for various reasons including, but not limited to; account security concerns, clearing limitations, or corporate action processing
Traders may request that the trading restriction be removed from the security in question by submitting a web ticket with the following information;
- The security symbol (including the contract month and strike for equity options)
- A brief description of the reason for the request
Once received, we will review the request and determine whether or not removal of the restriction can be facilitated
Additional information regarding how to submit a Web Ticket can be found here.