Error on NOV splits trade!!!

This is maddening!!!

Today when I opened my trade platform, I got 3 positions: 2 long NOVJV and 1 short NOVJY.

And these were losing counters. I sold NOVJY yesterday for $15.00 to close, but apparently, this was an error. Today, the MB Trading platform revoked the order. And this became a short position. And the bought leg (from last friday) splits into 2, and hence the 2 long NOVJV.

I called MB Trading and they said I should cover the short position by the end of the day!! And I have to incur the losses despite their technical fault!!!

Let's see if the market reverse and how much I can salvage the trade. Maddening!!!

First win on New Trading Platform

Recently, I found a trading platform called MB Trading that requires only $1 commission per contract (for options). I used to trade with (and still using) optionsXpress, but the commission is at least $14.95.

I just tried using MB Trading and managed to squeeze out my first win on this platform. Here's the details:

1. Underlying Stock: FMC, trading ~93.00

2. FMC's stock is spliting 2:1, payable on 13/9 and executing on 14/9.

3. Buy to Open @ 93.06 and Sell to Close @ 93.57

4. I bought FMC Oct 90 Call at 5.30 and sold at 5.70: 7.5% profit in 42 minutes.

Typically, if I trade only 1 contract with gross profit $40 (based on the same trade), I will only make $10.10 (= $40 - 2 comm x $14.95). But now, with MB Trading, I can make $38 (commission summed up to only $2). So if you are a new options trader and trade small number of contracts, it's good to use MB Trading. Otherwise, optionsXpress is excellent for big time traders.

ps: Please note MB Trading doesn't support options spread (MB Trading is incorporating the spreads within 2 to 3 months). Anyway, the spread order (up to 4 legs) optionsXpress also costs only $14.95, so it's not too bad and OX has excellent trading infrastructure.

pps: When I trade, I usually look into the ROI percentage rather than the absolute amount. You may not think $40 is any great; but if you see 7.5% return in 42 minutes, you'll know what I mean!

ppps: Imagine you are buying stock of FMC @ 93.06 and selling it @ 93.57, your ROI is only 0.5% compared to 7.5% through trading options. You do the math.