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The real "idiot" part of IB is "For trading US Penny Stocks, you also need to be 2 factor authenticated in both Trading Platform and Client Portal access" 2 factor authentication? That's completely over the top esp if the customer chooses to opt out. And a $30+ stock/fund like GBTC should not...

Yes. Big props to him. I'm guessing still likely going to be at a loss close to 25k. But the alternative could have been have over $100k. Though it's a tough lesson for me, I believe this industry practice of allowing after hours stock prices to impact options prices - when options are fully...

1:04am. Pst Tuesday actually.

Yes, basically 1:04am. And It was more anxiety about what could happen that pushed me to sell the bulk at 390. I was basically going a bit bonkers the entire the weekend imagining a gap down of 50 pts.

First off thank you all for helping out (and especially destriero); who gave me some excellent options approaches to slow down the bleeding. Unfortunately I picked the worse day in the history of TSLA to be long. A 21% drop today. My broker was after me even on the weekend with liquidation...

lol

are we still dancing?

uh huh. donated, thx.

i've looked at your posts. you are one of smartest people in the room. i'm not. but i recognize you. thx.

thanks for all your replies. i'm coming to the conclusion i'm screwed. I find it amazing that my wife has always said the stock market was "fixed"...always trying to screw the little guy. Well here i am.

Clearly the Mms saw this one coming. I'm not saying insider info - but why on earth (in retrospect) were OTM put premiums so high on Friday? 3 mins before close the bid on the 405 puts were .60 and the ask was 1.50. And the stock was at $418. Should have been .10. Someone was making large bet...

Yes I'm cash secured but it's in margin call territory now so likely broker will dump at open....i'm down over $20k right now... would buying a covered call help stem some of the losses? god so dumb.

exp was friday sept 4 2020...and unfortunately it got assigned....i now own the shares...it's frustrating since the close price was way below....i know its not going to make a difference but how can they allow after hours prices to affect options prices when there is no way to trade options as a...

I swore I'd never be one of those people asking advice on the web but here I am. I screwed up and need some insights. I did a naked short on a stock. Closed at 419 on at friday. My otm put was 405. at 415 pm bad news hit after hours and the price went down to 390. I'm exposed to a lot here...