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JustSayingMuch t1_iy39goe wrote

OP, you could not have been assigned shares if you bought puts (the right to sell shares). Did you sell a naked put (obligation to buy shares if assigned) in a downtrend for $200 premium? Sell the shares at open and move on with any profit or loss. If you wait too long, your brokerage will likely sell automatically to collect the debt, with a greater loss or profit for you. GL

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Fidug t1_iy3fc3b wrote

I am confused here as well. His brokerage could have exercised his purchased put for him if it was in the money. Generally, you are correct that to be assigned, you have to sell the option, but some brokers will auto exercise for you if you are in the money at expiration. However, he would now be short (-100) shares and would need to buy back to cover the short. However, he would have received the money from the sale, then the brokerage would not allow him to short, so they bought back the shares at 180 (hence the 18K loan). I assume this is due to settlement of funds, but something doesn't sound right.

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JustSayingMuch t1_iy3ijbh wrote

Extra steps instead of just selling the put, but OP should still receive a credit after settlement. Gains

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CharmingStyle6023 t1_iy3bxqe wrote

I was wondering why it took so many comments before someone said the obvious. Obviously he didn't just buy a put. Maybe sold one.

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eliteagentin020 OP t1_iy3em0m wrote

Nah i didn't sell anything, I bought the put but it got exercised because i didn't sell before marketclose

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Thanos-Wept t1_iy3lqf5 wrote

Exercising an ITM put just means you’re going to sell at the strike. You‘re saying you’re brokerage bought the shares per your unintentional request to exercise in order to sell them at the strike? Sounds like it will work itself out. May lose or gain a little depending on how it moves. What’s the strike?

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SateliteDicPic t1_iy3nbcu wrote

I’m sorry man but this doesn’t make sense to me. The put gives you the right to “put” 100 shares to someone not own them. How about a screenshot of the trades?

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