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    I had 25x $20 INTC calls that Fidelity liquidated for $.46 just before the spike.


    I had 25x $20 INTC calls that Fidelity liquidated for $.46 just before the spike.

    https://i.redd.it/3o7y0zw8q0qd1.png

    Posted by itismoo

    View 33 Comments

    33 Comments

    1. itismoo on

      Link below shows the other 10 contracts I had. 3 minutes later and these would have been worth $2.50 each.

      https://imgur.com/a/mwqYHGZ

      I’m a highly regarded noob so I assume I did something wrong but what should I have done to prevent the calls from getting sold for pennies? I did NOT put in these sell orders. Fidelity liquidated them indepedent of my instructions. I was intending to hold until just before the end of day.

    3. Huckleberry-V on

      You could change brokers but they’ll all retain the right to fuck you if they think it might save them a nickel.

    6. Ok-Insurance7918 on

      Read your brokerage agreement cause they legally retain the right to essentially bend you over as they desire

    8. RODTwsb on

      You need to call your brokerage prior to expiration and tell them mark the contracts as Do Not Execute and to let them expire worthless. Some brokerages will still liquidate it anyways but some won’t.

      Edit: if you held Apple 0dte puts the last 5 minutes of the day the contracts would have been a 20 bagger.

    12. Remarkable-Chef7559 on

      Why do you use fidelity, they do not allow you to buy Friday 0 date option. And they close option at about 3. I use tasty trade which close at about 330 pm. I had 3 contract also I thought it would be worthless  I was stun at 330.

    14. Jagob5 on

      Yeh I’m ready to see all these posts today because that was the first thing I thought of when I saw the spike – so many people getting fucked over by brokerages doing this.

    15. jerseynate on

      Holy shit could you actually imagine. The odds of this are astronomical. It’s as if YOU SPECIFICALLY needed to be out in order for it to go green

    19. Insolopias on

      On cash account I always set the contracts to lapse but not final decision if 0DTE. That way the broker doesn’t liquidate them in final 2 hours – and if they spike quickly sell them.

      If they expire worthless, doesn’t matter.

      The amount of times I’ve made a killing buying calls 1300-1400 market time, they drop and I set them to lapse so not LQD, then they rip and sell for profit.

      😬

    28. JeromePowellLovesMe on

      Fidelity just handed you cash.

      Kept your calls.

      Then profited from them in the name of assignment risk

    30. sjs72 on

      I’m betting you didn’t have the cash on hand to exercise those 53 minutes later. In which case this is normal behavior.

    31. DangerousRoutine1678 on

      They did the same thing to me. .30 OTM call, they liquidated at 3pm when it had been climbing. 3:30pm I was ITM, by closing it was up even more. I only used them for long options anymore.

    32. Chief_34 on

      Fidelity is pretty clear about this on their options information site. It specifically says they will close out options 1 hour prior to market close on the day of expiration unless told otherwise.

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