naked x3 GME march calls with IB

on 21Jan 21, my net liq was ~61K when l naked shorted 3 GME (was ~41.16) 60calls ,March.
l was liquidated on 27january21, GME was 283.95. if margin requirement increased to 100% that would be ~80K? is my understanding correct? if so surely a mass liquidation was not necessary?

 

OP future Uber driver.

 

Can make a lot more money in a Yellow Cab. Just have to know the hot spots, and catch the rich guys stumbling out of bars totally drunk.

 

A 60 call with GME @ 284 is 224 ITM. 224 X 3 X 100 = -$67,200 = You Fvcked Up

 

E*TRADE charged 300percent and they are pretty lax about margin

 

Which broker is that? Maybe you have to read their margin handbook to see how their margin changes.

 

Well said. Some of the carnage of this event is enough to make a grown man cry.

I think it's going to get worse before it gets better.

 

I sold 2 puts at the lowest price level just for fun. With the implied vol at 400%, thought there's some margin of safety there. Betting on theta and vega decay.

 

IB is the broker, the net liq of account was ~61K when put on the 3 GME naked calls on 21 Jan.
on 27Jan, GME @~ 284 is 224 ITM. 224 X 3 X 100 = -$67,200 . its a margin account opened in HKG, so gets portfolio margin by default according to IB, does that mean everything in account had to be liquidated?

 

If i read it correctly, your account even went under water?

Of course they should liquidiate everything to make sure they get paid pack their margin loan.

Edit: As pointed out by veterans here in another thread, your position was just crazy and stupid. No one to blame but yourself.