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I heard if you place a sell order GTC, way above the existing price, a broker can NOT use your shares to lend for shorting purpose. Is this correct?
Thats what my understanding is. I placed my shares for sale (limit) GTC way out of money.Another problem with Scottrade is they only allow JSDA sell orders to have a maximum sell price of $3. I didn't have any restriction with my other brokers.