I bought a credit spread on $spy on July 9th, expiring this Monday (7/22). After some time (days before expiration) I check my robinhood app and my account is flagged with an account deficit, and a regulation T call. There is also a new position opened of a $557 put with 9 buys and 900 shares of SPY. My account even has margin investing disabled. I don't know what to do as I don't have a spare 501k. What should be my next move?
503K DEFICT ON 2K ACCOUNT???????
byu/Jaded-Snow7853 inwallstreetbets
Posted by Jaded-Snow7853
33 Comments
There’s only one way out of this. Full port YOLO into 0DTE Spy calls Monday morning at open.
Only Matthew can save you now
you belong here 
Just close your account
Sell the shares you got assigned on monday.
Don’t sweat.
Nah, you bing chillin, you will be fine. Just wait for the phantom deficit to close.
Sell the 900 shares of SPY you purchased, sell the put and you’ll only be ~$3500 in the red.
Buy options, they said, it’ll be fun, they said, but only if you’re not highly regarded.
Excercise your 07/22 long puts…. it’s not complicated.
Stop trading options and go read up on what they are. What an idiot.
https://preview.redd.it/qra7y80jzodd1.png?width=1550&format=png&auto=webp&s=43aadf970d9dfb2237ac6fb2fd8b19137e4d2d1b
That’s crazy.
Tell them to exercise the long leg and take the L
Just don’t off yourself like the other lad did a couple years ago
And this is why you trade SPX or XSP instead of
Just delete the app it will all go away
Breathe and relax . You’ll be fine think with your head and don’t do anything drastic .
Don’t sweat it some pussy exercised their 558 puts and assigned you those shares. You now own 900 shares of SPY and have 9 puts giving you the right to sell 900 shares at 557. No matter what happens on Monday, the max you lose is 900 dollars. Please don’t be one of those idiots that thinks they are 500k in the hole and has a crisis.
If you sell a deep in the money call/put, then there is very high chance that it gets assigned because it has very low premium. This can happen if the market moves in your favor and the short option becomes deep in the money.
Just close the shares you get or exercise your long option to counter it. It is no biggie. The account deficit isn’t real and the broker doesn’t expect you to cover it. Just make sure to close the position.
Next time just do a debit spread.
Fucking dumbass how are you buying spreads when you don’t even know how options work? Fucking regard.
https://preview.redd.it/19fek3854pdd1.jpeg?width=1179&format=pjpg&auto=webp&s=1c8c3fa9919b1470c85535e66b6163172c5a4c31
You’re fine, don’t kill yourself like that one kid that though he had a huge deficit but in actuality he was in a similar scenario.
Lolll funny how little people understand options
Autism new high score: 502,200
So you sold puts and got assigned ?
sorry im stupid, it gave you 500k and forced you into debt?
or you just blew 500k?
maybe don’t invest in financial instruments you do not understand. just buy shares. you clearly don’t understand how options work. you are lucky this time around, it isn’t that bad. but, if you continue what you are doing, you will encounter a situation where you truly are fukt & there is no way out.
Robinhood should fix this bs
Sir, this is support group for gamblers held behind Wendy’s dumpsters, not RobinHood tech support!
Also if were too drunk to remember you opened a credit spread and sold puts, know that while I understand, no one here is impressed, a guy in the U.K. years ago got drunk and nearly took down the oil’s future market, message again when you top that.
Definitely a true regard
I have questions about this.
How can RH let someone be assigned 900 shares if they can’t afford it? I get it they’re using options but this makes no sense to me. Couldn’t someone in theory be able to gain 900 those shares without being able to afford it, just enough to buy the contracts and get them so they’re at a deficit and then just hold those and sell them at a higher price? They’d be able to play around with 900 shares despite not being able to afford them.
Did you try resting your phone?
Why are you buying options when you have no clue what you’re doing?