Nobody tell him. I wanna see post: how I lost 10k from 15 dollar bet
blackSwanCan on
LOL, I suggest getting out before the weekend. They have filed a 10K, but no one knows what adjustments they may or may not have to make.
asdf2k7 on
ouch. you should change your options trading level to 1 or 2…
GavestonYouBastard on
buttercow9 on
So basically you spent $15 to buy $10,000 of debt. You now owe $10,000.
VisualMom_ on
Cant possibly go tits up, well done
Unable-Collection179 on
The feds are on the way to your front door
HarryBigfoo on
Welcome home
Mahdyfh on
It’s like giving your money to a broker who lives under a bridge
MillTheill1 on
It’s known as spreads…. Spreading your cheeks
parker2020 on
PIN THIS POST
Sharp-Direction-6894 on
There is no way this is real.
Whoa2323 on
Opening an option position and then coming to WSB to ask what you did. Classic.
Sad-Hurry-2199 on
“The most I can lose is $15 right” as the contract says -$25 lmao
2021newusername on
the position should improve the closer you get to expiration date 🤣
Minus_none on
Fantastic work. Truly amazing that someone can get themselves into this position so effortlessly.
If you have kids, now would be a great time to tell them they’re not going to college 
TrueAustist007 on
You sold 1060 PUT and bought 960 PUT and got the credit of 99.85. Your goal regard now is to buy it less than 99.85 and that is the profit you will have. Max you can lose is 1060-960-99.85=0.15×100=15. Don’t be regarded and close for more than 100 and let RH execute both contracts automatically if you cannot get out with lower price than 99.85.
Minus_none on
If all else fails you can just take out a $300k loan at 11% and gamble it like that other guy 
MrSwitchIt on
TLDR: your max loss is $15. Your max gain is 10k. You make money as long as SMCI is above 960.15 at expiry.
You bought the option to sell SMCI at 960. And you sold the option to allow someone to sell SMCI to you at 1060.
If SMCI closes on 12/20 below 960, you’ve lost $15. You breakeven at 960.15. Any amount above that you make money. If SMCI closes at 1060 or above. You’ve made up to 10k.
Word of advice, close out the spread together and not individually.
cAPSLOCK567 on
You sold a put credit spread with both strike prices *very* in the money. You got $9,985 total in credit but have to keep $10000 as collateral. You’ve basically donated $15-$25 to the market makers, unless SMCI somehow moons to 1060 before 12/20. In that case, both options would expire worthless and you get to keep your $9,985.
Most people in here don’t know what they’re talking about. I barely know what I’m talking about, but I know you’re not screwed, OP. Feel free to just close the position and eat the two-figure loss. And also, stop trading options, because the next time you make a trade you don’t understand you will really mess yourself up.
25 Comments
Why would you do this.
It is a vertical put credit spread. Also the strikes are insane.
Stocks is below $500.
lol WSB champion
https://preview.redd.it/5kiqljqc2mod1.jpeg?width=3024&format=pjpg&auto=webp&s=e857447551ce6421d72b931a9fe8307bbf34ac30
Well done, you’re regarded. Just sell it and take the +- $50 loss or so
holy shit dude what are you doing
Nobody tell him. I wanna see post: how I lost 10k from 15 dollar bet
LOL, I suggest getting out before the weekend. They have filed a 10K, but no one knows what adjustments they may or may not have to make.
ouch. you should change your options trading level to 1 or 2…
So basically you spent $15 to buy $10,000 of debt. You now owe $10,000.
Cant possibly go tits up, well done
The feds are on the way to your front door
Welcome home
It’s like giving your money to a broker who lives under a bridge
It’s known as spreads…. Spreading your cheeks
PIN THIS POST
There is no way this is real.
Opening an option position and then coming to WSB to ask what you did. Classic.
“The most I can lose is $15 right” as the contract says -$25 lmao
the position should improve the closer you get to expiration date 🤣
Fantastic work. Truly amazing that someone can get themselves into this position so effortlessly.
If you have kids, now would be a great time to tell them they’re not going to college 
You sold 1060 PUT and bought 960 PUT and got the credit of 99.85. Your goal regard now is to buy it less than 99.85 and that is the profit you will have. Max you can lose is 1060-960-99.85=0.15×100=15. Don’t be regarded and close for more than 100 and let RH execute both contracts automatically if you cannot get out with lower price than 99.85.
If all else fails you can just take out a $300k loan at 11% and gamble it like that other guy 
TLDR: your max loss is $15. Your max gain is 10k. You make money as long as SMCI is above 960.15 at expiry.
You bought the option to sell SMCI at 960. And you sold the option to allow someone to sell SMCI to you at 1060.
If SMCI closes on 12/20 below 960, you’ve lost $15. You breakeven at 960.15. Any amount above that you make money. If SMCI closes at 1060 or above. You’ve made up to 10k.
Word of advice, close out the spread together and not individually.
You sold a put credit spread with both strike prices *very* in the money. You got $9,985 total in credit but have to keep $10000 as collateral. You’ve basically donated $15-$25 to the market makers, unless SMCI somehow moons to 1060 before 12/20. In that case, both options would expire worthless and you get to keep your $9,985.
Most people in here don’t know what they’re talking about. I barely know what I’m talking about, but I know you’re not screwed, OP. Feel free to just close the position and eat the two-figure loss. And also, stop trading options, because the next time you make a trade you don’t understand you will really mess yourself up.