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I can't say for sure but I can speculate. Since they don't really coach naked calls (considered too risky) I feel confident the conversation was regarding selling naked puts. As to the time frame, they generally teach entering an option position 30-45 days out.

As part of my education process, I sit in on trading rooms from time to time. Basically this is a learning experience conducted by coaches. The other day I was in an option TR and one of the students asked your very question. The coach asked if any of us students had ever been assigned prior...

I am a newb too but personally, I wouldn't close out the long leg. Not unless you're willing to accept the risk of being short. You have to be patient with verticals.

And what if that goes against you? Or just sits there doing nothing? I think there are some comments throughout this thread that you need to pay attention to and not just brush off as unhelpful. Yes, I have re-thought the comment I made earlier. :) Perhaps this comment is right on and...

I honestly don't get it either. I am certainly too ignorant to help the guy but I don't understand why someone here, who is capable, wouldn't. Maybe this is the wrong forum to come to if you need help.

That certainly appears to be the best solution to me. Take your $5200 loss (less premium received) and be done with it. But what do I know.

A post I hope I never have to make. Godspeed.

When I called him this morning he said I must have set up the trade wrong. Frankly, that is kind of what I figured too so I analyzed that possibility and concluded it was unlikely. The broker didn't even offer to look into it for me. TDA customer service is who came through for me.

This is the second issue I have had with TDA and they have both been worked out, in my favor and with a single phone call. Well, a single phone call if you don't count the call this AM to my useless broker.

LMAO. What do you suppose the chance is that FF finds you as hilarious as I do. ETA: I don't mean to encourage you. FF strikes me as a plenty nice guy. Now carry on.

I am well aware of verticals and I trade them often. I didn't do a vertical in this case because I was so sure I was right that I didn't want to limit my upside potential. I am never more wrong than when I am absolutely certain I am right. Unless I am mistaken, and I may well be, your math...

A follow up. I just got off the phone with TDA customer support who checked with a market maker who determined it was some kind of error. They are going to credit my account the difference between where the order actually triggered and where it should have triggered. So my account will be...

It wasn't my entire account by any means but the loss was well beyond my risk tolerance. I try to limit my loss on a trade to $500 max. I thought I had set this trade up for a max loss of $375. If I had known I was going to lose $800 on a trade that cost me $1050 to enter, I would have just...

The interaction between you and FF always cracks me up.

There is very little risk now that I am stopped out of the trade. :)

Wow. Thanks but still, wow. What lesson can I learn here? Not to put stops on options? Not to leave that stop in place overnight? The daily chart in TOS doesn't show that option ever trading today below $5.65 or so, so I was really confused. That is an expensive lesson, whatever it...

Can one of you experts please look at this option: GLD_091711P175 and tell me how I could have been stopped out at $2.22 at 8:30 this morning? My stop was $6.80. Now I know it is possible for the price to slide right through a stop but I can't see where this option traded anywhere...

I completely agree. I haven't being buying options, other than spreads, for a couple of weeks. The swing trade was the exception. Should have stayed in it a tad longer as it turns out. ETA: And I see you have been here since 2004 so you are MUCH closer to being an expert than I am. ;)

I know I am not a big player like some of you guys. I know this is one of FF's "dinner at Red Lobster hangs in the balance" trades. My point is, if you are going to get in and out quickly, what difference does it make if the price of the option is inflated. I entered this trade at 8:52 this...

Now that's funny right there.