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Know thy Broker - update.

    I thought I would be done with this topic, but two events pertaining to brokerage firms I mentioned in an earlier post pretty much demand publication.

   First, you may recall the Edward Jones broker who didn't know the difference between an option and a short position. Well, this mental giant has lately been refusing to accept sell orders from a customer, an elderly woman, who is rightly terrified of the risk to her life savings. 
    Now, I have no indication of any malice on the part of this . . . man. I suspect he is just sure that he knows best. And we can hope that this is an isolated incident. But it is at very least, it is a solid indication that Edward Jones is not effectively policing its franchise. 
    As for the miscreant himself, rest assured that steps are being taken to limit his capacity to do harm.

     The second item relates to Scottrade. Anyone tempted to make use of their cheap and  convenient options trading should be aware that they are not able to trade options on the ^VIX. Could have knocked me over with a feather.