Important info on lending and automatic closing of positions

I saw some posts about the insane CTB % and how it’s important to ensure your account is NOT open to lending. I made a call to Fidelity and took some notes….

Simply put, if you do not have margin on your account then your positions are not subject to be lent out in any way, shape or form. Also, I confirmed that if you do not have margin on your account, you cannot have your positions closed automatically in the event of a squeeze.

However, if you do have margin on your account (which is necessary to do options trading), then there are certain agreements you’ve already accepted that would allow your positions to be closed by the brokerage without your consent. I do not know if there is a way to stop that or not if you’re already in that position. You also would need to turn of lending or contact the brokerage to do so.

Personally, I do not have a margin account and only have simple long positions of AMC and GME. Therefore my shares can’t be lent, and in the event of a short squeeze only I can determine when my positions are closed no matter how high the price goes. $AMC Entertainment(AMC.US)$ $AMC Preferred Equity Unit(APE.US)$