Turns out it was a couple of $170 BYND calls I wrote that pushed me over. They required 75% of the strike. I was already up $300 on them, so I just exited that trade.
NKLA was a nice trade indeed. Incredibly hard to borrow though, IB charged me 515%/annual interest rate, but at least I got my slice of this pie
I'm thinking these naked puts were not a good idea now. Seemed like free money, but didn't realize the PIPE investors could sell as of June 20. Thought it was middle of July.
Unloaded all six of my $35.50 naked puts. Profited $396 by luck. Didn't think anyone would buy for less than I sold. Still holding two $35s and two $25s that I wrote @$6 and $3.50
Just as I was thinking. Ever since this company went ipo almost 2 weeks ago something as i keep saying doesn't seem right. Been questioning this company 2 weeks now and Finally this News comes out today. Nikola stock dips after report of CEO exaggerations Published: June 17, 2020 at 4:09 p.m. ET https://www.marketwatch.com/story/nikola-stock-dips-after-report-of-ceo-exaggerations-2020-06-17
I cleared the rest of my naked puts as of today. The risk vs reward didn't seem worth it. I still cleared $1,000 so it wasn't a total waste of time. Just gave up the opportunity cost of using that $33k elsewhere.(yeah they require 100% margin on those naked puts)