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/biz/ - Business & Finance


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File: 128 KB, 750x1334, EB1B808D-07B2-4B33-BB11-F771333CEBB8.png [View same] [iqdb] [saucenao] [google]
27587969 No.27587969 [Reply] [Original]

Plz no bully

Bought my first call , when the fuck do I get my 100 shares at 10$ ? Did I read this right or am I just a complete fuck up

>> No.27588167

>>27587969
AHAHAHAHA THIS IS WHY ROBINHOOD HAD TO PROTECT YOU FUCKING IDIOTS FROM YOURSELVES HOLY SHIT YOU DON'T JUST GET 100 SHARES IF IT GETS TO $10

>> No.27588197

>>27587969
its 10$ put so you have the right to sell your shares at 10$ no matter the current share price

>> No.27588269

>>27588197
So if it drops under 10$ your put actually has value if not its basically worthless

>> No.27588314

>>27587969
thats not a call its a put

>> No.27588363
File: 899 KB, 750x1334, CA367661-2B85-43BF-8615-DED84F0CE6EF.png [View same] [iqdb] [saucenao] [google]
27588363

>>27588197

I got this one , put instead of 15 strike price i put 10 , so by feb 5 if it’s not below 10$ I make money right ?? I read it right I’m sure lol .

>> No.27588366

Bait

>> No.27588418

>>27588363
other way around bro

>> No.27588422

>>27587969
OP YOU SHOULD SELL NAKED CALLS. THAT'S WHAT REAL PROS DO. (Actually probably worth the risk right now lol)

>> No.27588428
File: 23 KB, 741x568, af2.png [View same] [iqdb] [saucenao] [google]
27588428

>>27588197
>>27588269
Why not do a $500 put to lock in the price?

>> No.27588486

>>27588363
SHAHAHSHAHA HE SOLD IT NAKED FUCK YES OP I CAN'T WAIT BRO

>> No.27588569

>>27588363
This has to be bait. Are you really this bored?

>> No.27588682

>>27588428
puts arent free thats why

>> No.27588685

>>27588363
you agreed to pay $15k in stonks if you get exercised on.
At current action very unlikely but someone who bought can exercise at any moment

>> No.27588781

>>27588569

No I’m not joking how do I get out of this

>> No.27588887
File: 362 KB, 750x1334, 61BDB1DF-C953-4545-B67B-D65E4416FF75.png [View same] [iqdb] [saucenao] [google]
27588887

I want to do this but then I don’t just hope it expires . I’m a moron

>> No.27589058

>>27588887
You're covering it wrong

>> No.27589128

>>27589058

So what the fuck do I do?

>> No.27589168

>>27588781
>>27588887
you don't
you need to buy put option closer to the money

>> No.27589268

>>27589128
If you sold at $15 you need to buy higher strike put to cover. Because if it tanks you need to have cover so put option needs to be ITM before your sold option.

>> No.27589274

>>27589168

Man I’m fucked should I just leave it ??

>> No.27589287

>>27588781
Sell the fucking contract you moron

>> No.27589288

>>27587969
[spoiler] game stonks [spoiler]

>> No.27589509

>>27587969
>Bought my first call
>Put
555-come-on-now
why are you trading options anyway, the meme is to buy and hold shares

>> No.27589724

>>27587969
>>27588363
>>27588887
See ya in the poor house lel

>> No.27589741

>>27589274
How likely you think it is that GME will tank to $20?
Pretty unlikely so if it stays above you're safe but you CAN STILL get exercised on. Because moron with enough money can just click exercise.

>> No.27589956

>>27589741

Fuck it I’m calling robinhood and saying that my sister did that shit . I’m scared now .

>> No.27590085
File: 62 KB, 474x306, Screenshot 2021-02-03 at 12.56.15.png [View same] [iqdb] [saucenao] [google]
27590085

>>27589128
DO NOT SELL option contracts if you do not understand how it works.
>>27588685
I was wrong here
You sold one puts so you agree to buy 100 shares for $1500 total

So what to do?
to get coverage you can buy put closer to the money (picrell)
16 strike seems pretty cheap

>> No.27590116
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27590116

>>27589956
Thanks for the laugh m8

>> No.27590173

>>27589956
Jesus chill
cover up and you can still see few dollars of profit

>> No.27590221
File: 326 KB, 612x526, 1579173167866.png [View same] [iqdb] [saucenao] [google]
27590221

>tfw I still dont understand what the SELL button does
I always click the BUY button and then wait for numbers to turn green from red. Then trade close. Simple. SELL button is too complicated.

>> No.27590240

>>27590085

Odds on odd me getting excersied on ? I’m going to just call robinhood and cry . It says I paid 1000 for the right to buy 100 shares at 10$ By Jan 5 . I’m stupid af . And I’m going to call robinhood and just cry and tell them to help me get rid of it I’m a retard.

>> No.27590259

>>27587969
Until when? When does the contract expire?

>> No.27590332

>>27588363
>February 5
Just say buy buy to that contract

>> No.27590452

>>27590221
We are options marines and we will never sell! HOOOOOOOOODL!!!!!

>> No.27590542

>>27590240
Nigger this isnt your high school math teacher. This is the fucking stock exchange. They wont give a fuck. You cant just call up crying and expect them to undo your trade because youre retarded, that isnt how things work. Figure out a solution by listening to other anons here, or accept your miserable fate.

>> No.27590610

>>27590240
>It says I paid 1000 for the right to buy 100 shares at 10$ By Jan 5 . I’m stupid af
Yes, you are extremely retarded

For the moron like you I have this
BUY is SAFU
SELL is EXTREME RISKY

>> No.27590638

>>27590240
Good luck trying to get Robinhood to answer your calls kek

>> No.27590652

>>27588781
Holy shit every thread is a fucking gold mine right now, I’m dying

>> No.27590687

Peak autism.
Christ the gme shitshow really gonna claim thousands of stupidest ropes

>> No.27590863

>>27588781
This should be a new banner for /biz/

>> No.27591004

>>27590863
Definitely would be a good one

>> No.27591056

>>27590240
What did you pay??? wtf are you even saying
From what I'm seeing here you sold a put.
A right to buy($10 call) 100 shares at $10 is worth $8k right now
selling is obligation
buying is a right

>> No.27591211
File: 57 KB, 786x288, Screenshot 2021-02-03 at 13.24.51.png [View same] [iqdb] [saucenao] [google]
27591211

>>27588363
according to this "strategy"
You will be $500 at risk

>> No.27591272

Opie, this cannot be real life. Did you just sell a $10 GME put for TWO FUCKING DAYS FROM NOW? You're done, you're fucking finished. Delete the app, close your bank account, change addresses, I'm fucking serious. If Robinhood try to contact you ignore them you grade A fucking mongoloid. Someone please tell me why this cancer app allows braindead beginners to write options?

>> No.27591289

>>27591056

I paid 1000$ collateral for the right to purchase them for 10$

>> No.27591347

>>27591272
Another one that doesn't understand shit
He's probably safe no way GME tanks below $10

>> No.27591360

>>27590863
+1

>> No.27591363

>>27588428
go buy one

>> No.27591375
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27591375

>>27591272

I’m fucked I have the money but I’m fucked

>> No.27591407
File: 38 KB, 556x606, sell.jpg [View same] [iqdb] [saucenao] [google]
27591407

>>27590452
Well I was talking about this,once I click the SELL button I have literally no idea what any of this means, BUY button is way simpler

>> No.27591431

>>27591347
GME is going to 15 TODAY and will be 2-3 at market open Friday, check em you retard

>> No.27591486

>>27591289
>I paid 1000$ collateral for the right to purchase them for 10$
JESUS FUCKING CHRIST
it's not a "right" when you write aka sell a put

>> No.27591555
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27591555

>>27591431

>> No.27591608

>>27591486

No I BOUGHT

>> No.27591609

lmao they still try to shill this shit here, don’t go for it if you are not a retards

wanna have profit without risks - use NFT, best opportunity for 2021 kek
I hit upon Playcent and that scam that u try to show me is not exciting

>> No.27591651

>>27591289
you don't pay collateral, you idiot. it's collateral, it's credit held separate from your purchasing power. this is not a fucking savings account, you already gave your money to robinhood. if they go tits up (from trading activity that you and all these other reddit morons helped direct), you're out all of it. the figures you see in the app are just accounting entries.
somebody paid to buy a put, you were credited for it. they paid almost nothing because $10 is very low and very far away from the current price of $90. if the price crashes towards $10 the cost of such a contract will increase. you have to buy the contract back to close this position, whereever it goes. if you wait out expiration and the owner of the contract decides not to execute it, then you "win" your gamble.

>> No.27591679

>>27591608
so what the collateral is for???

>> No.27591732

>>27591375
breakeven 9.88 means that if GME is 9.88 on feb 5th (unlikely) then your profit/loss is $0. basically, you were credited $12 to take be the seller of else's lotto ticket. this normally would not ever happen but volatility is high on GME.

>> No.27591766

can someone explain to me what OP just did? I've been doing a lot of research these past days, but these real life examples help me out lots. If I'm reading this right, he paid $1000 in case opportunity arises for him to get 100 stocks of GME, but only if it's at $10 per right?

>> No.27591797

>>27591608
>amount
>-1
lmao you're just a fucking troll, fuck off

>> No.27591872
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27591872

>>27588428
>moons past 500 after you spend 10k+ on the 500 put
nothing personal kid

>> No.27591929

>>27591766

Yes this is what the fuck I thought I did .

>> No.27591976

>>27591555
>$12 credit sell to open 2/5 $10 PUT
>$10 limit buy to close
>you made $2 for being a fucking retard
>you risked $1000 in GME (and GME thereafter going to zero) to make $2
this is fine, leave it alone now

>> No.27592007

>>27591872

I don’t have 10k , come feb 5 what’s the most money I can be out of?

>> No.27592048

>>27591929
>>27591766

No, he sold a put so i think he sold to someone else the right to buy the stock @ 10 dollar each at expiry date.

So he needs to hope it drops below 10 dollar right?

>> No.27592093

>>27591976

Okay leaving it and done crying .

>> No.27592103

>>27591431
I assure you it won't fucking happen.

>> No.27592222
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27592222

This is what I did , I was under the assumption I was just at risk for the money in my account max and ir maybe my collat . I’m done trading

>> No.27592246
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27592246

>>27591555
>>27592093
>>27592007
what the fuck have you done? you stupid retard
you manage to fuck yourself up even more by listening to these mongoloids, get on the phone with a financial advisor, it will costs you less than this mess

>> No.27592352
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27592352

This is what I have sitting so I just leave it alone ??

>> No.27592384

>>27592048
>So he needs to hope it drops below 10 dollar right?
Basically. A put (or call) is an option for someone to buy/sell at strike price rather than the stock price

>> No.27592429

>>27588781
Call the exchange and ask them to halt trading.

>> No.27592430

>>27592352
Omfg dude fix this before the market opens LOL

>> No.27592470

>>27592246
Exactly this
What I'm also thinking (warning extremely retarded) he was thinking
he bought $10 put
and he sold $15 put thinking he will make (15-10) * 100

>> No.27592481

>>27592430

How much money will I be out of if I wait until feb 5

>> No.27592511

>>27588781
Just cancel the order for fucks sake. Go to history click on the order itself and there should be a cancel option

>> No.27592615
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27592615

>>27592511

Leaving this here and calling Robin Hood

>> No.27592669

>>27592429
kek
>>27592352
so now he's going to sell at 12 cents? thats whats happening right?

>> No.27592686

robinhood needs to archive this thread for when the sec starts asking them questions about why they tried to do what they did

>> No.27592713

>>27592470

I haven’t sold anything yet it’s just sitting there .

It says if I’m not asked to buy them then it will expire .

>> No.27592744

Retards should be fucking thanking Robinhood for halting trading the other day. This is what happens.

>> No.27592752

>>27592686
This.

Robinhood will be able to make it out unscathed

>> No.27592756
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27592756

holy shit this thread, i fucking love newfags

>> No.27592771

>>27592669

Nothings happening I just left it alone not touching that shit . It said I had the right to purchase the stocks at that price ,

>> No.27592848

OK OP, let me walk you through this

You have a short Put. You can close this by 'buying to close' the short.
You do this by tapping the put option from the main screen and then tap buy, enter a limit price.
Keep in mind a seller needs to meet your price. You may need to cancel the order and replace it with a higher price if no one agrees to your price.

>> No.27592860

>>27592771

Took my 12$ and 1000$ collat . I’m just leaving it fuck my life . Praying I get my money back feb 5 if not whatever .

>> No.27592885
File: 53 KB, 1242x180, 63615198-0C1C-40E1-BCCE-7B99A8E65161.jpg [View same] [iqdb] [saucenao] [google]
27592885

>>27588781
New banner

>> No.27592979
File: 72 KB, 796x900, 47AEC020-1C6D-42C5-BF2B-E4E11A95ACBD.jpg [View same] [iqdb] [saucenao] [google]
27592979

Early reservation for screencap position, you retards better update us

>> No.27593030
File: 62 KB, 640x480, 619861651.jpg [View same] [iqdb] [saucenao] [google]
27593030

>>27588781

>> No.27593069

>>27592979

Most I’ll be out is a couple thousand if I did the math correctly . It says I get my money back on the 5th

>> No.27593098

>>27592615
Lmfao.
>call robinhood
Good luck with that! After you wait literally 7 hours to actually get through, theyll just tell you that they are locking your account and closing it because youre too much of a liability. After, of course, you lose all your money, because there is no undo button with this shit. Theyll just lock in your poor decisions and leave you to your fate.

OP please tell me you are trolling. Please tell me you did not actually do this LOL

>> No.27593201

>>27593098

What’s the most I could lost come feb 5

>> No.27593226

>>27592885
+1

>> No.27593251

>>27593098

I paid 12$ and they took 1k collat . So bacially I own the shares and shares and have to sell them at 10$ come 2/5

>> No.27593265

BTW nothing happens burger.
It's going squeeze today.
your puts will be worthless

>> No.27593308

>>27593069
>only a couple thousand

>> No.27593346

>>27593308

Jesus man . Can they take money from my bank account ?

>> No.27593371
File: 285 KB, 750x1334, buying_GME.png [View same] [iqdb] [saucenao] [google]
27593371

G-guys did I fuck up?

>> No.27593396

>>27593201
Everything. Why do you think they link your social security number to this shit? You cant just delete the app and walk away and pretend it never happened. Dont worry at least youre making the /biz/ history books

>> No.27593450

So do we have 2 separate retards here with the OP currently offline having a mental breakdown?

>> No.27593469

>>27593251
So you bought and sold????
that explains why the $1k collateral.
bought $10 put --> paid $12
sold $10 put --> $1k collateral to cover

>> No.27593519

>>27593346
>avoid paying your liabilities with this one simple trick! Brokerages HATE him!
Yes nigger, i mean they cant LITERALLY seize your money but you will be in their debt. Please take before and after photos of your credit score LOL

>> No.27593532

>>27593371
buy $16 put to cover
That's bullish spread

>> No.27593543

>>27593469

No I only paid the 1k collateral the first time . And 12$

>> No.27593563

>>27590240
>I’m going to just call robinhood and cry
lmaooooo this has to be a joke

>>27593371
Yeah. If you want an OTM put I would say do something in between 40 and 30. Its crashing, but I feel like the normies will buy into it at 20 dollars because they have no idea what they are doing. Not to mention there are still delusional redditors who think a short squeeze will happen if they keep the share price high enough.

>> No.27593653

>>27593371
replying

>> No.27593821

>>27587969
>>27593543
>>27593346
Ok OP. I know a guy who works for robinhood. I should be able to get you in contact with him and you won't have a long wait time. Show your full portfolio so he can assess the damages. I'll post his email after you do this

>> No.27594026

>>27593543
You idiot bought put $10 strike for $12
Then sold $15 strike I don't know why? It has $1500 collateral since it's naked
You should have $500 collateral hanging since $15 strike sell is 2/3 assed covered with $10 put

>> No.27594031

>>27593821
This. Also show bob and vagene

>> No.27594045
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27594045

>>27588363
>>27588781
>>27588887
HAHAHAHAHAHAHA, You are so fucked.

>> No.27594049

>>27588363

You're not fucked. On Friday when the market closes it expires and you get to keep the $29.

>> No.27594057

>>27594026

I didn’t sell it it’s still there , leaving it .

>> No.27594231

>>27591211
>risk $500 for $5 return

>> No.27594362
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27594362

The easy ol' trick of the Jews and Wall Street, preying on the faggots who buy calls for stocks out of desperation.

Now I see what Robinhood was planning all along. 5D chess.

>> No.27594385

>>27594057
>I didn’t sell
So why the collateral???

>> No.27594428

>>27593371
If this hits I am exercising on you

>> No.27594616

>>27594385

Because the collateral is the money they are holding for me in case someone decides to sell 100 shares of GameStop at 10$ I did 10$ not 15 , it said I have the right to BUY GameStop stocks at 10$ , nobody is going to sell me them that low , I’ll only owe money if it tanks to 9.88 cents . I’m a Retard and I’m never touching that button again . I understand now , I’m only screwed if it goes under 10$

>> No.27594762

>>27594616

9.88 is my break even price . Meaning I’ll only be screwed if and owe a shit ton of money if it goes far under 10$ ie 5 , and I’ll owe 500$ eh I get it , I’m stupid idk why I care here

>> No.27595011

>>27594762
>>27594616
Just post your portfolio and positions. I want a laugh. Its pretty much the only thing you can do at this point other than rope neck

>> No.27595032

>>27591407
On etoro , buy means you are going long and sell means you are going short
When you short , you make money if the price goes down and lose money if it goes up
On etoro , to take profit you neee to click on close position and not sell , if yoi have btc for example and you made 1000$ and want to sell the btc you own you need to go to portfolio and click close position
If you go to btc and click on sell you are opening a new short position
Common noob mistake , watch out

>> No.27595115

>>27594762

If I was screwed id have to have put up the collateral of 100 shares which has been high as fuck forever . I’m good , Robin Hood’s menu is kind of shit , I know I’m retarded but I def know I can read .

>> No.27595474
File: 153 KB, 1080x2160, Screenshot_20210203-083805.png [View same] [iqdb] [saucenao] [google]
27595474

Just click the exercise button

>> No.27595576

>>27594616
If you haven't written put you're safe.
if break even is at 9.88 it means its just a bought put option since your option intrinsic value will be 0.12 at 9.88
0.12 x 100 it's the price you've paid
Collateral means you have something hanging

>> No.27595656

>>27588363
Congrats on making 29$

>> No.27595806

>>27591431
Show your 100x short then genius. You're gonna be rich.

>> No.27595981

>>27592686
It's probably a false flag with op being a pair actor for exactly this purpose.
Watch this story being on some msm outlet tomorrow.

>> No.27596149

kek im dying
>>27588887
>>27588781
>>27588363
>>27587969

>> No.27596421

>>27588781
YOU HAVE DELETE THE ROBINHOOD APP NOW AND IT WONT COUNT

>> No.27596480

>>27588269
holy fuck anon is a genius this is going sub 10

>> No.27596552

>>27588363
oh. oh no anon. you are fully retarded. >>27588781
you are here forever anon

>> No.27597818

GME will e $1 by the end of the day
OP is a genius

>> No.27598277

was robinhood the good guy all along? you cant possibly be this retarded

>> No.27598332

>>27597818
I'd unironically buy a few thousand shares at $1 per

>> No.27598572

>>27587969
Oh god why would you exercise instead of sell your option what the fuckkk.

>> No.27598619

>>27588428
A $500 put will cost around 500-P for P=Market price now
For example $500 strike put dated Feb 19 is $391
This is why robinhood needs to quiz customers before letting them open options like every other broker

>> No.27599277

If Elizabeth Warren decides to crack down on retail investors playing with options, I see her reasoning why now

>> No.27600252

Since op wrote the original contract if it stays above $10 won't he profit?
I'd just hold that seems a safe enough bet

>> No.27600532
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27600532

>>27593371
w-what the fuck? Anything for you, mom.