old woman smart enough to accum 17000 AAPL shares but too dumb to know this ?

[TheDawn]

Certified idiot.
Another add to my collection

"it's obvious she relies on the dividends being paid on the AAPL shares as her income"

17,000 shares of aapl and she relies ? And the stonk was in a fukking roth so no tax on the sale .

She said no sale of her AAPL shares. WHY the hell did those idiots sell her shares through their POS options strategies? If she got assigned on those options, that means their covered call strategies were s***!

 

[TheDawn]

Hate to agree with you J=Mo, but I sorta do.

1. Her advisers were dumb and greedy.... they really shouldn't lie to a little old lady just so they can make some commission.
2. They should have told her, "if your shares are called away, you can buy them back with the proceeds" (tax considerations not withstanding).
3. How much was she harmed? She got the proceeds of the sale, so I don't see how she was harmed "$800K worth".

AAPL was going up that's why her shares got called away in the first place in the stupid covered call option strategy. So if she needs to buy them back, she would have to pay more so she suffered losses.

 

[Scataphagos]

It's Charles Schwab and Pinnacle that totally swindled her out of her shares by lying about the risk of the covered-call strategy.

No, they didn't "swindle" her out of anything. She got the money from having her shares called, and she could have bought them back immediately if she wanted.

She told them clearly her AAPL shares are not to be sold under any circumstances and they sold her shares and that's a violation of their fiduciary duties to her.

Correct on this point.

 

[Scataphagos]

AAPL was going up that's why her shares got called away in the first place in the stupid covered call option strategy. So if she needs to buy them back, she would have to pay more so she suffered losses.

Would be nice to know at what price they were called relative to the strike(s). Might it have been <$1/share? Also... no assurance the stock was going to rise further after being called. What if the shares had tanked after exercise... would she still be entitled to compensation simply because she didn't want them sold?

(Wish I'd been smart enough to "accumulate 17,000 shares of Apple.")

 

[easymon1]

There's absolutely no one to blame in the market for gains or losses, other than completely, just, yourself.

I hate self-righteous sheep who sue for losses they suffer.
Similar to suing McDonald's for the hot coffee that spilled on your dick or pussy while driving the car. It's your dumb, innocent, fault.

Aside from the Hate for self-righteous people, they just being what they do. We humans do that a lot.

But aside from that, I agree BooMan. WTF, what's next. dogs and cats sleeping together?

https://www.elitetrader.com/et/thre...-to-infinity-and-b.369135/page-3#post-5661571

 

[JackMorgan]

AAPL was going up that's why her shares got called away in the first place in the stupid covered call option strategy. So if she needs to buy them back, she would have to pay more so she suffered losses.

i see. so everyone who sells covered calls is stupid according to you .
lol, blocked , for life , and maybe even beyond that

 

[easymon1]

No, they didn't "swindle" her out of anything. She got the money from having her shares called, and she could have bought them back immediately if she wanted.

Hey, that's too reasonable. She'd have to be responsible for her decisions and actions. Takes all the fun outta the game "Look What You Made Me Do!" Her poor old man. Deep six prolly lookin just fine to him about now. He who laughs last laughs like a mofo. ya can prolly hear him topside. fuggetaboutit, lol.

 

[TheDawn]

Would be nice to know at what price they were called relative to the strike(s). Might it have been <$1/share? Also... no assurance the stock was going to rise further after being called. What if the shares had tanked after exercise... would she still be entitled to compensation simply because she didn't want them sold?

(Wish I'd been smart enough to "accumulate 17,000 shares of Apple.")

If her shares were called away, they were called away at the price of the strike and that's DEFINITELY lower than how much the shares were selling in the market at the time. That's how options work. So if she's to buy back the shares immediately after having had them called away, she would've had most definitely suffered losses.

 

[TheDawn]

i see. so everyone who sells covered calls is stupid according to you .
lol, blocked , for life , and maybe even beyond that

No just them cuz they didn't traded the options right. You are just a troll who doesn't know what you are talking about.

 

[Scataphagos]

If her shares were called away, they were called away at the price of the strike and that's DEFINITELY lower than how much the shares were selling in the market at the time. That's how options work. So if she's to buy back the shares immediately after having had them called away, she would've had most definitely suffered losses.

How much lower, would you guess?

Is there a "rule of thumb" about how far an option usually needs to go ITM before it gets exercised?