In addition, the Bond Liquidation Group PBN01 is defined.
need to understand the laws of various nations and jurisdictions and must be aware of when they can and cannot file a claim.
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In the event that you are holding a call spread (long and short calls in the same underlying) prior to an ex-dividend date in the underlying, and if you have not liquidated the spread or exercised the long call(s), IB reserves the right to: i) exercise some or all of the long call(s); and/or ii) liquidate (i.e., close out) some or all of the spreads -- if IB, in its sole discretion, anticipates that: a) the short call(s) is (are) likely to be assigned; and b) your account would not have sufficient equity to satisfy the liability to pay the dividend or to satisfy margin requirements generally.
In the event that IB exercises the long call(s) in this scenario and you are not assigned on the short call(s), you could suffer losses.