NKLA, what a heck of a day!

[Amun Ra]

explain the entire position

Turns out it was a couple of $170 BYND calls I wrote that pushed me over. They required 75% of the strike. I was already up $300 on them, so I just exited that trade.

 

[ValeryN]

NKLA was a nice trade indeed. Incredibly hard to borrow though, IB charged me 515%/annual interest rate, but at least I got my slice of this pie

 

[JesseJamesFinn1]

Turns out it was a couple of $170 BYND calls I wrote that pushed me over. They required 75% of the strike. I was already up $300 on them, so I just exited that trade.

After seeing that $230k gain-week on another thread, I feel tiny!!!

 

[JesseJamesFinn1]

Now this crap. Apparently I'm up $91k on a trade that is impossible for me to make more than $4,890 on.

View attachment 230170

At least we can see how the Twitter heroes are getting those ungodly gains.

 

[Amun Ra]

I'm thinking these naked puts were not a good idea now. Seemed like free money, but didn't realize the PIPE investors could sell as of June 20. Thought it was middle of July.

 

[S2007S]

Hmmmmmmm

Still something just doesn't seem right with this stock or company

 

[Amun Ra]

Unloaded all six of my $35.50 naked puts. Profited $396 by luck. Didn't think anyone would buy for less than I sold. Still holding two $35s and two $25s that I wrote @$6 and $3.50

 

[S2007S]

Hmmmmmmm

Still something just doesn't seem right with this stock or company

Just as I was thinking. Ever since this company went ipo almost 2 weeks ago something as i keep saying doesn't seem right.

Been questioning this company 2 weeks now and Finally this News comes out today.

Nikola stock dips after report of CEO exaggerations
Published: June 17, 2020 at 4:09 p.m. ET



https://www.marketwatch.com/story/nikola-stock-dips-after-report-of-ceo-exaggerations-2020-06-17

 

[Amun Ra]

I cleared the rest of my naked puts as of today. The risk vs reward didn't seem worth it. I still cleared $1,000 so it wasn't a total waste of time. Just gave up the opportunity cost of using that $33k elsewhere.(yeah they require 100% margin on those naked puts)