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What's going on with C2?

Is it just me of C2 web trader is completely broken since a couple of days? It shows my account is down even thought it’s up 90% after 3 months of trading. It doesn’t execute market orders during regular market hours in names with excellent liquidity. Wildest buying power calculations like I sell a position worth five digits and it show that my buying power decreased. Etc. I opened many tickets with them already. So far no reaction.

Check out these screenshots. As wrong as it gets.


Today it got even worse. C2 Displays 70% loss instead of 70% gain and I’m losing subscribers as people keep asking me why the account would display 70% loss.

I’m reporting this issue to C2 every day and they just don’t fix it!

I’m will start a charge back over my bank as they are not providing the service I’m paying for.

Thomas - Let me see what’s going on. I think there may be an option symbology change problem. More shortly

Thomas -

I did some more research on this.

The issue is related to how C2 marks-to-market the value of open options positions (and your strategy has a LOT of open options positions). The summary of the problem is this:

When the markets close, C2 uses “last” prices to value these positions (because bid/asks become bogus); but during market-open hours we’ll use the bid/ask (typically more favorable).

This can cause fluctuating results in cases where options are relatively illiquid and the “last” actual trade price is very different from the more recent bids and asks.

This is an issue we’ve never really found a satisfactory solution for. I’m going to try to see if I can make the logic here a bit more supple, so that you don’t see these valuation oscillations (as often?).

I hope you will be able to stick it out and, for now, ask your subscribers to be aware that this is a marking-to-market issue, not related to your closed-trade performance. In the meantime, I’ll see if I can make C2 handle these kind of strategies a bit better.

If you see really obviously bad marked-to-market valuations, do me a favor - just send an email to help@collective2.com with the relevant screenshot and also the date and time (in ET) that you see the weird valuation.

And of course I will understand if you just decide that C2 isn’t right for you, given the type of startegy you are running. If that’s the case, just let me customer service colleagues know you’d like a refund and we’ll respect your request. I hope you’ll stick it out a bit longer to see if we can make the options-valuation logic a bit better.

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I noticed trading options that don’t have good liquidity makes it hard on closing limit orders when you have an auto trader and multiple contacts. One contract may get filled at that limit, but all the other contracts get crappy fills. I would think if you set a limit it would close those orders separately if needed to get that price. I collect premium so I can mitigate this issue by letting them expire worthless, which is not ideal since I like to control my risk more.

Bro I’m reporting calculation problems every other day and when I ask to explanation or formula how you come up with numbers that couldn’t be more off than they are I hear silence.

This morning my public profile prints -46.6% Cumulative return. Sorry guys but if this would be a one time hiccup then ok but this is a permanent state. I’m paying you remember? I’m not going to waste my time writing your support to update the numbers. Even after their recalculations the balance is off big time.

I’m quitting this platform and starting a charge back through my credit card company.

Good luck!

Thomas

Are you sure you are replaying to the right post? I said market order in high liquidity names aren’t getting filled. I suggest C2 needs to do their homework before asking for money for a broken product.

Sorry to see you go, Thomas. I wish you success on your trading.

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