Moron . Naked put options otm Friday. BUT stock price went down after hours...interactive brokers

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 notifications. Basically I had to sell off some of my shares meet those margin calls. I didn't want IB to do it so I did it myself. I sold off 75% at essentially 1 am pst. I'm on the west coast so I've had a long day. I didn't know it was going to be such a crash for TSLA but I just felt better selling at 390. In hindsight my losses were much lower then if I had waited for the "normal" premarket. Now I'm holding the rest of the shares in basically a synthetic fly.

Once again thank you for the community. I fucked up. This environment made it a much less financially and personally destructive experience.
 
pointbob said:
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 notifications. Basically I had to sell off some of my shares meet those margin calls. I didn't want IB to do it so I did it myself. I sold off 75% at essentially 1 am pst. I'm on the west coast so I've had a long day. I didn't know it was going to be such a crash for TSLA but I just felt better selling at 390. In hindsight my losses were much lower then if I had waited for the "normal" premarket. Now I'm holding the rest of the shares in basically a synthetic fly.

Once again thank you for the community. I fucked up. This environment made it a much less financially and personally destructive experience.
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Very well done!
 
pointbob said:
First off thank you all for helping out (and especially destriero); who gave me some excellent options approaches to slow down the bleeding.
More...
Hey, just curious, if you are able to comprehend dest's advice and understand synthetic flies and such, you must not be complete "moron" when it comes to options. Sounds like you have the knowledge but lack experience?
 
pointbob said:
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 notifications. Basically I had to sell off some of my shares meet those margin calls. I didn't want IB to do it so I did it myself. I sold off 75% at essentially 1 am pst. I'm on the west coast so I've had a long day. I didn't know it was going to be such a crash for TSLA but I just felt better selling at 390. In hindsight my losses were much lower then if I had waited for the "normal" premarket. Now I'm holding the rest of the shares in basically a synthetic fly.

Once again thank you for the community. I fucked up. This environment made it a much less financially and personally destructive experience.
More...

Could have been a lot worse. Live to fight another day.
 
pointbob said:
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 notifications. Basically I had to sell off some of my shares meet those margin calls. I didn't want IB to do it so I did it myself. I sold off 75% at essentially 1 am pst. I'm on the west coast so I've had a long day. I didn't know it was going to be such a crash for TSLA but I just felt better selling at 390. In hindsight my losses were much lower then if I had waited for the "normal" premarket. Now I'm holding the rest of the shares in basically a synthetic fly.

Once again thank you for the community. I fucked up. This environment made it a much less financially and personally destructive experience.
More...

WOW! Well done!!! Nice escape, from a terrible situation. I did not want to check ET today, because of your thread. I think it's the scariest thread I have ever read here, because I knew you were not playing around...

"Rescue Operation" was a success, I guess. Props to @destriero
 
taowave said:
If I read you right,you sold 75% at 390 on the overnight???

If so good for you....
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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.
 
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