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

ChipShotTrader said:
WOW! Well done!!! Nice escape, from a terrible situation.

"Rescue Operation" was a success, I guess. Props to @destriero
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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 closed - violates a basic tenet to the idea of fair markets. Either allow options to be opened the same after hours as stocks or close options after reg trading times.
 
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pointbob said:
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 closed - violates a basic tenet to the idea of fair markets. Either allow options to be opened the same after hours as stocks or close options after reg trading times.
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My guess is that you'll be happy in the synthetic out to October.
 
pointbob said:
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.
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how the hell you sell something at that time?
 
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