"I had NKLA credit spreads, where the short legs got assigned. Exercised the long legs the next day immediately but they wouldn't settle until after the weekend. I still got charged 360% interest for 3 days. My account value is only 5K lol. I'm done." Etrade should eat this, IMHO. rule #1: Avoid anything on reg sho unless you really know what you're doing.
I'm probably wrong on this but how is there a $10k interest charge for 3 days? Isn't this interest divided by 360 and multiplied by 3 days??
Assuming the stock at 65, that's 65 x 3.60 or $234 per year (per share) divided by 365 so .64 per day or $64 per 100 shares (or one assigned call). So that $192 for 3 days. So if he was assigned on 52 calls it would be about $10,000. Note that the short rate now is over 800%