I had a spreadsheet that would track with one of those sparkline column charts how much premium I give back on any given trade. So if I collect $1,200 in premium it would show a full bar, and then I close it for $300 it would shrink down showing I had collected $900 as I had given back -$300 of the $1,200.
Well I was running an iron condor on TOS and it was showing the position at -2500, so I was thinking that was off of what I collected because of my spreadsheet. In my defense the way they tally positions is pretty ambiguous imo, they should have 2 columns, cost to open, and cost to close, so it should have been showing -$4000 to open, and $6500 to close, instead of putting them together as -$2500 pnl...but I digress. So when I closed the position, I thought I was still up $1500 ($4000 + $-2500) not down $-2500 lol. The worst part is me calling in trying to tell them their accounting is off...and that my net liq value should be higher until I realized mid sentence what I had done.
I did get to save face however when I was down a large amount on a BITO call during the ftx scandal, and one of the phone agents patronizes me by suggesting I open a practice account and learn about stop losses lol. So anyway I said to him "why would I want to close at a loss?" Then after I recovered with profits when Bitcoin rallied which I was expecting...the next time I got them I'm like. "Hey remember that BITO call? Yeah there's a reason why I'm sitting on this side of the phone and you're sitting on that side of the phone." Lol
Well I was running an iron condor on TOS and it was showing the position at -2500, so I was thinking that was off of what I collected because of my spreadsheet. In my defense the way they tally positions is pretty ambiguous imo, they should have 2 columns, cost to open, and cost to close, so it should have been showing -$4000 to open, and $6500 to close, instead of putting them together as -$2500 pnl...but I digress. So when I closed the position, I thought I was still up $1500 ($4000 + $-2500) not down $-2500 lol. The worst part is me calling in trying to tell them their accounting is off...and that my net liq value should be higher until I realized mid sentence what I had done.
I did get to save face however when I was down a large amount on a BITO call during the ftx scandal, and one of the phone agents patronizes me by suggesting I open a practice account and learn about stop losses lol. So anyway I said to him "why would I want to close at a loss?" Then after I recovered with profits when Bitcoin rallied which I was expecting...the next time I got them I'm like. "Hey remember that BITO call? Yeah there's a reason why I'm sitting on this side of the phone and you're sitting on that side of the phone." Lol
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