I'm on the phone with Fidelity now and because you're "synthetically short the position" by going short with one leg, it requires margin, and I can't use margin until my account is back to $25k. So it's sounding like I won't be able to open spreads until I have the use of margin back, which won't happen until $25k. My option at this point seems to be transferring cash or accepting that I can't trade spreads, neither of which is really tickling my fancy at the moment.Charismatic Megafauna said:
No that's the "day trade margin call." My account is flagged as a pdt account, and my acct value fell below 25k, triggering the "margin call"
Are you really using margin to open call spreads though? Maybe I have margin turned off? Put credit spreads shouldn't need margin either if they're cash secured?
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To add to that, I'm in this position because I opened trades as multi-leg and then couldn't close them in the same fashion. I'm sure that's my mistake, but when I opened a strangle and then when I went to sell, it forced me to sell off the long call as one transaction, and the long put as a second transaction, so I got dinged for two day trades when I had planned on only one. My mistake, live and learn, but in this case, it's gonna bite me if I have to make a large (for me) transfer, or lose the ability to trade spreads. I like using spreads for SPY because it removes the theta decay from it as opposed to simply going long with calls or puts in a single leg approach.
Final addition: I wasn't able to sell calls against positions I had in cash either. Because it's a margin account it journals everything into margin even if I buy it with cash. So because my shares are held in margin, the calls have to be sold against them with margin, which I can't do because I can't use margin under 25k with PDT label. So this really screwed things up for me completely. Basically my account won't function like it should under $25k, so I've now lost the ability to trade spreads.
So, with that said, I'll have to now change my approach and simply go long calls or long puts and factor in decay. That will change my approach pretty significantly. I need to rethink how I'm playing things now. Hitting the PDT under 25k really messed with me.
So, with that said, I'll have to now change my approach and simply go long calls or long puts and factor in decay. That will change my approach pretty significantly. I need to rethink how I'm playing things now. Hitting the PDT under 25k really messed with me.
gougler08 said:
ELOX forming a bottom (I think)
IT F***ING BETTER
Ummmmm, $DIS
Just saw 10K Jan 150p BOUGHT and 10K Jan 150c SOLD.
Just saw 10K Jan 150p BOUGHT and 10K Jan 150c SOLD.
McInnis 03 said:
Ummmmm, $DIS
Just saw 10K Jan 150p BOUGHT and 10K Jan 150c SOLD.
I was gonna shutup, but then I saw this....
— Charles F (@charlesf11) November 24, 2021
That's BIG moolah folks. https://t.co/s2YPWGRogv pic.twitter.com/bfaGmWzZCH
These aren't showing up on Cheddar...
Interesting....
Interesting....
Obviuosly I'm assuming that the puts at the ask were bought and the calls at the bid were sold.........that's crazy ass bearish IMO but after that the stock has been climbing again and trying to put in that daily hammer.
..............
The more I think on it, spreads are filled at whatever the system fills them at. Not sure I can infer bought or sold from the prices on a spread like that.
..............
The more I think on it, spreads are filled at whatever the system fills them at. Not sure I can infer bought or sold from the prices on a spread like that.
VKTX, NVNXF, and INVZ are having a nice day. nice to see a little green.
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Posts gettin' zapped?
Anybody home?
Anybody home?
Farmer @ Johnsongrass, TX
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SAVA
Farmer @ Johnsongrass, TX said:
Posts gettin' zapped?
Anybody home?
looks like a few did.
PROG 6 milly share buy this morning in the 3.70's.
Fruit may be setting itself up for a $165C lotto on the quick Friday.
yeah what a move into close, I sold into that pop. AMD lottos might pay too.Spoony Love said:
Fruit may be setting itself up for a $165C lotto on the quick Friday.
NVDA's a monster
TSM looks like it may fill that gap back up.
BIGC reversal confirmed (I'm in verticals, 55/60's.
Happy Thanksgiving all!
Alright people; Go enjoy some time with your families! I don't want to see my new post icon light up for this thread until tomorrow after 7PM.
Happy Thanksgiving!
Happy Thanksgiving!
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Toward the Close I sold some SAVA Covered Calls $110 12/17 at $1.05. At the time the bid was 0.90 and the ask was 1.10. Those 1.05's were snapped up in an instant. Hope that is a futuristic sign!
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Happy Thanksgiving!
Happy Thanksgiving and hope all of ya'll have a very safe and Blessed time with family.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Happy Thanksgiving to all! Thank you for the wisdom and fellowship shared throughout the year. Wishing you all the best with your loved ones.
Thankful for you all and thankful that WWR ended the day green for the first time in what seems like months. It's a Thanksgiving miracle.
I'll repeat the sentiment as many here. Thankful for this group and the push for everyone to succeed. For lessons learned and still to learn.
Mostly I'm thankful for Jesus. May He find us continuing to help and serve each other.
Mostly I'm thankful for Jesus. May He find us continuing to help and serve each other.
I'm just kicking off a little Roth IRA through fidelity (yes, way, way too late). It likely won't be maxed for quite a while, but what are some good considerations for it? I'm over extended on TTD and WWR in my small play account so preferably neither of those unless TTD is that much of a slam dunk, which I know doesn't actually exist.
Wait until late January or into February. This market is frothy and cash is a better position than riding a stock down. You'll just be able to buy more shares in the same company by waiting, especially in a ROTH.
Happy Thanksgiving, all!
Happy Thanksgiving guys...enjoy cold refreshments and your meat of choice w/ the family
It certainly looks bearish, but could just a s straddle that was filled on the bid.
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AG
Why is it not a collar on a huge institutional holding?
(Edit: because the strikes are the same and mcinnis' screenshot says spread. Duh...)
(Edit: because the strikes are the same and mcinnis' screenshot says spread. Duh...)
Everybody loves a dirt road
Happy Thanksgiving, all. I really appreciate this community.
$DIS could be a decent risk reversal play. Sell Dec 150P, buy Dec 150 call. Be ready to take assignment at 150.
$DIS could be a decent risk reversal play. Sell Dec 150P, buy Dec 150 call. Be ready to take assignment at 150.
Likewise$30,000 Millionaire said:
Happy Thanksgiving, all. I really appreciate this community.
$DIS could be a decent risk reversal play. Sell Dec 150P, buy Dec 150 call. Be ready to take assignment at 150.
Happy Thanksgiving gang
Left the house at 4:45 am for my rounds, now having a bloody mary.
$30,000 Millionaire said:
Happy Thanksgiving, all. I really appreciate this community.
$DIS could be a decent risk reversal play. Sell Dec 150P, buy Dec 150 call. Be ready to take assignment at 150.
Been pounding the table here, your opinion gives me hope.
Anyways, happy Thanksgiving y'all
Long turkey, long stuffing, long mashed potatoes
Short cranberry sauce, and short green beans, super short, like I hope the SEC investigates them, burn it to the ground
$30,000 Millionaire said:
Happy Thanksgiving, all. I really appreciate this community.
$DIS could be a decent risk reversal play. Sell Dec 150P, buy Dec 150 call. Be ready to take assignment at 150.
Look at $DT too
I just want to say thanks to the board. Imagine how many threads you can legitimately say are life changing. Well, this is one of them. I was recently able to purchase a house in the mountains thanks to some nice stock winnings (CLOV, NIO) and just got it posted for rent a few days ago.
https://t.vrbo.io/6apBoLNwtlb
This is a whole new world of investing for us. Even if we don't break even, we will still enjoy the hell out of it and live life to the fullest. This wouldn't have been possible without you guys.
https://t.vrbo.io/6apBoLNwtlb
This is a whole new world of investing for us. Even if we don't break even, we will still enjoy the hell out of it and live life to the fullest. This wouldn't have been possible without you guys.
Maybe you can buy my house from me and rent it back? (ELOX, WWR)
Holy smokes, that's beautiful! Once the kiddo can handle flying (without making me contemplate suicide), might be hitting you up!