First time with options: How did I lose so much money?

Discussion in 'Options' started by NoobTrader32, Aug 24, 2015.

  1. All you guys are messed up. I am willing to bet (as I stated in my post) that there were bad prints as shown in the chart I posted and that those trades got busted. How else can it be?
     
    #11     Aug 25, 2015
  2. I agree...it's impossible to go sell naked options for the premium if you have a tiny account. you must have the ability to cover, just in case. No brokerage will be that dumb to leave themselves open to that gamble/exposure/risk.
     
    #12     Aug 25, 2015
  3. Margin required for OP's position:

    200 Shares x $120 QQQ stock price x 150% = $36,000



    :)
     
    #13     Aug 25, 2015
  4. If he didn't close his position yet, OP may very well have accidentally made money today.

    Hopefully he doesn't end up slapping himself on the back about what a genius he was.
     
    #14     Aug 25, 2015
  5. Maybe you placed a market order instead of limit order and got a bad fill price? That could explain why your account was displaying a negative P/L after you exercised the trade.

    BTW, totally agree with the other posters that you seem to be even beyond just a noob trader. I think most noob traders would have at least done some preliminary study of why you aren't automatically "up money" the moment you sell a naked option. You've got a long way to go and a lot of studying to do before you can call yourself a noob trader 0.02$
     
    #15     Aug 31, 2015
  6. What did you tell IB on your account application, when they asked how much option trading experience you had?
     
    #16     Aug 31, 2015