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hishazelglance OP t1_je1z17f wrote

Reply to comment by AutoModerator in It’s about time Signature unhalted by hishazelglance

Closed two 5/19 $50P today, finally.

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aylubb t1_je1zk76 wrote

Were you able to sell? Heard some brokers are being difficult on the puts lol

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hishazelglance OP t1_je1zs5q wrote

Yep! This was the realized profit, maybe a little more (I think I sold both for $46.75 instead of the $46.55 listed?). Robinhood was being annoying but they said options would resume shortly after open so I just stared at the stock for like 35 minutes until it started trading lol

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MammothLover21 t1_je2hql7 wrote

Why would you sell the option? You could have just exercised them for $49.75 each.

Unless you couldn’t acquire shares. In which case you paid $300 for each contract for someone else to immediately buy and exercise your contract on another platform.

You could have opened a fidelity account and bought sbny. Then sold your option to yourself and then exercised. Extra $300 per contract for not much work.

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hishazelglance OP t1_je2zk8p wrote

You can’t exercise them unless you have the shares as collateral. The thing Robinhood did on 3/17 was an exception.

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MammothLover21 t1_je30h34 wrote

I know I said unless you couldn’t acquire shares.

I don’t use shitty Robinhood that blocks trades. Here they robbed you of $600

You could have went to a platform that let you buy the shares and traded your option to that platform and exercise.

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MammothLover21 t1_je33blq wrote

I’m 99% sure you lost easy money here.

You could have put your price at $49.50 and a market maker would immediately bought you option and executed your option for you.

My guess is you did the midpoint suggestion from Robinhood on the spread or just did a market order and hit the open bid price.

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hishazelglance OP t1_je33qaq wrote

Midpoint was 44.50ish, and I executed at 46.75. Not going to go through making a new fidelity account and doing all that extra work just to risk illiquidity in the OTC market.

It’s easy to critique when you have hindsight. Send me a post next time you have puts on a company that delists and goes under so I can learn from your wisdom 😉

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MammothLover21 t1_je348rd wrote

Idk wth you talking about with that spread, you can literally check the options chain here: https://finance.yahoo.com/quote/SBNY/options/

$50 put options were selling for $49+. I’m sorry Robinhood shafted you.

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hishazelglance OP t1_je34krl wrote

Idk why you’re apologizing or care this much to correct me, you made less than me today and probably in general too LOL.

It’s supposed to be a fun gain post, why do fat top hat discord mods like you try to forcefully exert your intelligence on others? Send me that all time chart or move on bud

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MammothLover21 t1_je34ruq wrote

I saw a very obvious misprice and how you got shafted by your brokerage.

I’m telling you for next time so that you can learn how to make that easy $600 extra, but you’re clearly seeing it as an attack.

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