Interactive Brokers now blocking purchase call and put options (even to institutional investors!) on $GME, you can only close a position.
On the other side, Robinhood is asking for account to be funded with cash to execute the calls at expiration, or else they will liquidate your position :|
I don't know IBKR's system, but most OMSs will accept an order unless it's blatantly wrong such as invalid stock. It's the execution engine that really enforce the rules.
You’re right. I get the same message for Jan 29’31 300 CALL but do not get the message for the $330 or $500 strike. Looks like its only for ITM strikes.
Tested IBKR today - I was able to place a simple Limit order for GME stock which was good till close but when I refreshed to view my list of orders it shows as Cancelled.
It's not only about options. You can't buy even 1 stock of GME on non margin account. I don't understand how it has anything to do with IB risk management.
On the other side, Robinhood is asking for account to be funded with cash to execute the calls at expiration, or else they will liquidate your position :|