Might Be in Trouble: What happens when a Naked Put Expires?

:D
Great thread.
If you don't have about $133K buying power in your account, rest assured your broker will buy those back for you. At the ask too. A good broker should have called you by now. IB won't, they're too busy or too understaffed.
I expect your position will be flat by 3:45 EST. Assuming you don't have the buying power.
And not to be a dick, but if you didn't know this coming into this trade.... what if something happened to HAL? Some bad news. A lawsuit or an insider scandal, and it dropped to $16. I'd hate to lose $210K. That'll f up your world.
Thats just crazy brother.
 
vanzandt said:
:D
Great thread.
If you don't have about $133K buying power in your account, rest assured your broker will buy those back for you. At the ask too. A good broker should have called you by now. IB won't, they're too busy or too understaffed.
I expect your position will be flat by 3:45 EST. Assuming you don't have the buying power.
And not to be a dick, but if you didn't know this coming into this trade.... what if something happened to HAL? Some bad news. A lawsuit or an insider scandal, and it dropped to $16. I'd hate to lose $210K. That'll f up your world.
Thats just crazy brother.
If its thinly traded and (I don't know how the MM stuff works) but watch the
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Your number is off. It is 21k loss at 16. don't scare him more than necessary.
 
zdreg said:
Your number is off. It is 21k loss at 16. don't scare him more than necessary.
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Oops. My bad. :D
Yeah that.
I bet he was sweating the first 15 minutes today.

What I wanna know... I don't watch it much... but why the hell did HAL get to $19.
It was a $50 stock almost a year ago.
Hmph.
 
vanzandt said:
I bet he was sweating the first 15 minutes today.
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After reading your post he was looking out the window from a high level.:D It is almost a 100%guarantee that he never read the options prospectus.
 
Options are scary crazy. The fack you're all talking about.

And Vanz, you do options also? Didn't know (or more likely remember) that about you.

Welp, here's to the crazy ones.

(No, I'm not going to post the Apple commercial about the crazy ones, lol).
 
zghorner said:
I ended up buying at $0.03 before close just to make sure I was out. Made a little money but it wasn’t worth it. Got lucky. Thanks for the help folks. I know I am an ignorant worm and still have a long way to go.
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You were lucky that HAL didn't spike down near the close. A.20 move*( a hiccup) would have cost you $1400 minus premium received.
 
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