naked x3 GME march calls with IB

[IBRex&me user]

on 21Jan 21, my net liq was ~61K when l naked shorted 3 GME (was ~41.16) 60calls ,March.
l was liquidated on 27january21, GME was 283.95. if margin requirement increased to 100% that would be ~80K? is my understanding correct? if so surely a mass liquidation was not necessary?

 

[destriero]

OP future Uber driver.

 

[Overnight]

OP future Uber driver.

Can make a lot more money in a Yellow Cab. Just have to know the hot spots, and catch the rich guys stumbling out of bars totally drunk.

 

[Option_Attack]

A 60 call with GME @ 284 is 224 ITM. 224 X 3 X 100 = -$67,200 = You Fvcked Up

 

[newwurldmn]

on 21Jan 21, my net liq was ~61K when l naked shorted 3 GME (was ~41.16) 60calls ,March.
l was liquidated on 27january21, GME was 283.95. if margin requirement increased to 100% that would be ~80K? is my understanding correct? if so surely a mass liquidation was not necessary?

E*TRADE charged 300percent and they are pretty lax about margin

 

[horizon]

on 21Jan 21, my net liq was ~61K when l naked shorted 3 GME (was ~41.16) 60calls ,March.
l was liquidated on 27january21, GME was 283.95. if margin requirement increased to 100% that would be ~80K? is my understanding correct? if so surely a mass liquidation was not necessary?

Which broker is that? Maybe you have to read their margin handbook to see how their margin changes.

 

[kmiklas]

A 60 call with GME @ 284 is 224 ITM. 224 X 3 X 100 = -$67,200 = You Fvcked Up

Well said. Some of the carnage of this event is enough to make a grown man cry.

I think it's going to get worse before it gets better.

 

[sef88]

I sold 2 puts at the lowest price level just for fun. With the implied vol at 400%, thought there's some margin of safety there. Betting on theta and vega decay.

 

[IBRex&me user]

Which broker is that? Maybe you have to read their margin handbook to see how their margin changes.

IB is the broker, the net liq of account was ~61K when put on the 3 GME naked calls on 21 Jan.
on 27Jan, GME @~ 284 is 224 ITM. 224 X 3 X 100 = -$67,200 . its a margin account opened in HKG, so gets portfolio margin by default according to IB, does that mean everything in account had to be liquidated?

 

[JamesJ]

IB is the broker, the net liq of account was ~61K when put on the 3 GME naked calls on 21 Jan.
on 27Jan, GME @~ 284 is 224 ITM. 224 X 3 X 100 = -$67,200 . its a margin account opened in HKG, so gets portfolio margin by default according to IB, does that mean everything in account had to be liquidated?

If i read it correctly, your account even went under water?

Of course they should liquidiate everything to make sure they get paid pack their margin loan.

Edit: As pointed out by veterans here in another thread, your position was just crazy and stupid. No one to blame but yourself.