I call Charles Schwab and ask to speak to someone who can help me with some options contracts I purchased on my brokerage account.
A Schwab rep transfers me to a broker who specializes in trading. I ask the broker if he can confirm whether or not my 10 NVDA long call option contracts have closed out for profit (the contracts had gone in the money after hours). Dennis tells me the options contracts were sold for a profit. I ask Dennis to confirm the total amount the options contracts were sold for. Dennis confirms the contracts were sold for a nice profit and gives a precise value. I celebrate, as this is a substantial amount of money for me.
When I do not see the transaction an hour later I call Charles Schwab back. After I get through to a new investment representative I am told that there has been a mistake. I am told that the options were worthless. The representative starts to doubt my recollection of what Dennis (the previous rep) had told me. I ask Benjamin (the new rep) if there is a recording. He agrees to have his supervisor listen to the recording. After being put on hold, Benjamin tells me that he is shocked, and that his supervisor confirmed everything had happened as I described it and that they will work to fix this. Benjamin puts me on hold again. When he gets back he tells me that he is very sorry, and Charles Schwab will not honor the transaction at this time. Benjamin tells me that he is having an issue with his trade desk, but that he is unhappy with the outcome and would like to contact me on Monday possibly with a better outcome.
Today (monday) I get a call from Benjamin informing me that Schwab would like to offer me $50 as a gesture and Benjamin asks "Would you accept this". No Benjamin, no I will not. With restraint I am politely declining the $50 and would like to pursue other avenues to obtain the profit from my trade.
Fortunately I was recording the callback today, and informed Schwab's reps that I was recording. They re-confirmed the above events had happened as described and agreed to be recorded.
I have received the most ludicrous of reasons for why Dennis would say that 10 NVDA long calls had sold for the amount he quoted. One of the excuses was "maybe Dennis was looking at the wrong account."
Any advice on where to go with this? SEC/Legal? Has anyone else had something similar happen with Charles Schwab? Again I have recordings that clearly confirm everything I am saying here.