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oraclewizard77
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Registered: Jan 2006
Posts: 2324

07-09-12 02:30 AM

I assume if he said he would not be able to pay the options, then he wrote naked options. I actually think the brokerage will close your options if they feel the position will cause a margin call, or they will ask you to put up more capital.

Bankruptcy is meaningless in either case. I bet you did not read the fine print that says the brokerage can close option positions when you don't have enough margin to protect them.

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