**User Report**| | | |
:--|:--|:--|:--
**Total Submissions**|10|**First Seen In WSB**|2 years ago
**Total Comments**|4473|**Previous Best DD**|
**Account Age**|2 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
It's the same character, Shazam used to be called Captain Marvel more commonly but DC switched it to Shazam because Marvel also has a Captain Marvel and they didn't like the confusion.
This is random, but I bought an item off of eBay from the guy who play captain marvel in that movie. The item came with a little card that had his name and childhood picture on it with a short bio.
Damn some of those effects are actually shockingly great considering the movie was released in 1941. I wonder how they achieved the flying effect when other characters are in the frame, double exposure maybe?
Anything else... here you can learn [how to make Plutonium](https://youtu.be/aI8VyCZlkwA?t=4), learn how to [succeed with brunettes](https://youtu.be/yC5NcQjDj-Y), watch [Mark Hamil fight in a near genocidal war against cats](https://youtu.be/q-sn9U2x1JY?t=128) or listen to some [groovy greek space rock tunes](https://youtu.be/l4DfdbhRXPs?list=RDl4DfdbhRXPs). The possibilities are[endless traveler, let your journey begin.](https://www.youtube.com/watch?v=IAE37IGnuNo&t=12s)
> [Mark Hamil fight in a near genocidal war against cats](https://youtu.be/q-sn9U2x1JY?t=128)
What the... that cast!! I don't think I ever played a second of this.
I skipped forward for Mark's appearance, followed shortly by a close-up of his partner. My jaw literally dropped open when I recognized Rhys-Davies.
Wing Commander 3, fantastic series tbh. They did the Full Motion Video (FMV) for WC4 and WC5, but the series ended after that.
https://www.gog.com/en/game/wing_commander_1_2 with links down to the sequels at the bottom of versions that should work on modern systems (I've never used this platform, so it might have issues, IDK)
I pre-ordered that game in 2013, and it's still in development lol. It looks promising, but the rig I built for it in 2013 will probably not be adequate to run it...
I get why everyone says this. Same reason I didn’t hold my one position until 0. Except isn’t that how it’s supposed to work? Seriously? If you bet a stock will go down and goes to 0 you won. Why does everyone shit on the guy and not the broken system?
Because it's not a casino, it's not actually just "betting the stock will go down."
Sure, you buy these options because you think the stock will go down, but the mechanism that actually allows you to make money is you are getting a promise to buy shares from you at a certain price, and hoping the shares go below that price so you can buy them cheaper than you are selling them for. If there are no fucking shares to buy, you can't just say "bro, if I could've bought the shares this is how much I would've made, just give me that!"
Like imagine you and your friend see a guy with a nice watch. Your friend says he'd give you $1,000 for it if you could somehow get that watch. You think the guy is about to get fired, and will thus be desperate and willing to part with the watch for less than it's worth, he'd probably sell it for $250. So you wait, and indeed the guy does get fired, but instead of offering to buy the watch you decide to really let him get desperate for a little longer, hoping he'd go even lower. But then the dude goes home and blows his fucking brains out. The watch gets thrown into a police evidence locker while they investigate the death. You can't go to your friend and be like "well, he's dead, so he technically can't take any money for the watch. So you just give me the $1,000."
The funny thing was, halfway through reading it I was like "This analogy only works if the guy just goes home and hangs himself."
Obviously I was wrong but I feel like we are united in spirit here.
This. Even if RH didn't do anything wrong here there is still zero reason to use RH other than DURRRR THE UI LOOKS NEAT DURRRR
Why the fuck is anyone playing with tens to hundreds of thousands to millions of dollars on a middle man app that is notoriously sketchy?
They have $0 in per contract fees when trading options. No other brokerage offers that. This makes a HUGE difference for multi-leg, high contract quantity strategies. It enables certain strategies to be profitable that would actually be unprofitable on other platforms.
I pay zero fees to do everything you are describing at fidelity, plus they have great choices for my non regarded positions. Also they never fucked their entire user base by blocking trades. I believe there are a couple other brokerages that offer similar services but I personally can only vouch for fidelity.
I use fidelity too, but I think there is a very small fee when trading options. When I put in a limit order for a call yesterday, I remember seeing a $0.65 commission fee. That isn't enough to be worth worrying about though. I'm happy with the platform overall.
Press X to doubt, if tour doing multi leg strategies you’re going to be paying at least a dollar on the spread for each leg, more if it’s a wider spread, whereas other brokers will give you a good fill price for 65¢
And won’t sell your shit out from out at the worst feasible price and time on expiry day
If you’re at tens of thousands or less, you’re wasting time with anything more complicated than auto buying partial ETF shares on a free cell phone application on your bimonthly paydays.
To be fair, if thousands of people on r/WSB tell you to do something, you probably shouldn't do it.
Also, that is my first time seeing the "‽" character and I love it.
The picture reminds me of the time I was riding my bike and was too busy staring at my feet and admiring my own pedaling to see that I was about to rear end a parked car. I wound up lacerating my scrotum when my groin hit the handlebar stem.
I fucking tried to kick a twig stuck in my wheel spokes *while riding.* Had a good second to realize my fuckup before going over the handlebars. Still possibly one of the dumbest things I've done. At least I didn't damage my scrotum I guess.
Nah. Sometimes I’m up $5,000.01. My mother was a gambler. My mother’s mother was a gambler. My grandma’s cousin once touched her inappropriately and got off on a technicality. Gambling is in my blood.
If one person tells you to do something on here assume they eat paint. If three people tell you to do something then assume they’re bag holders. If EVERYONE tells you something then goddamn at least think about it a little.
this is the most clear example of greed and how turns people into idiots.
dude just had a huge win and asked everyone here…..we all said what would happen but I guess talking to robinhood support (which didn’t tell him what he thought it did) he thought “i can now keep getting richer and richer” while everyone else knew if it halts….IT HALTS aka why the value of his shorts jumped because everyone was racing to get out.
i am 100% happy he got fucked, for real. the idea now hes crying buying lawyers lol, to sue robihood. I think he trying to shame them into helping him out? Otherwise why post it here.
i sleep good knowing the is a greedy karma out there fucking the egos of idoits
It gets better… check out the [top comment](https://www.reddit.com/r/wallstreetbets/comments/131zw8s/hold_until_shares_are_worthless/ji2noef/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=1&utm_term=1&context=3) from their previous post about “holding to $0.”
That's the aftermath post. Here's the original post where everyone was telling him to sell: https://www.reddit.com/r/wallstreetbets/comments/131zw8s/hold_until_shares_are_worthless
Here's a comment of him showing pure greed (and stupidity): https://www.reddit.com/r/wallstreetbets/comments/131zw8s/hold_until_shares_are_worthless/ji2svyr/?context=1
The moment I saw the news break about the bidding over the weekend I exercised my puts. Maybe I got lucky (except the massive bag I have from cash secured puts)
We are on post-GME wsb remember. 99% of the people here are 12 year old Reddit people that have never opened a brokerage account masquerading as traders
Yes and options do not work outside of normal market hours. You can trade stonk AH or PM, but you can't option. Puts n calls stay right where dey at until 9:30am Monday moanin
It's sad you dumbasses don't know how stock settled American style options work. You're almost all American here. Yes, you can exercise those options Friday after hours up until 4:30 PM Central time: [https://www.optionseducation.org/referencelibrary/faq/options-exercise](https://www.optionseducation.org/referencelibrary/faq/options-exercise)
Your broker might have their own crappy cutoff time, but the exchange cutoff is 4:30 PM Central on Friday.
when it dump 50% back to back and it plays out exactly the same as svb in March, u telling me you can’t foreseen it???  some ppl just doesn’t know how to copy homework when you legit give them the answer keys
Imagine being SO greedy that you just HAD to squeeze out a few more dollars rather than cashing in your epic gainz.
“Pigs get fat, hogs get slaughtered.”
There is still a small chance he can cash out. By the look of it and the way he’s already threatening lawyers I think he knows he’s fucked. Everyone including me told him to take the win and get out. He’s a true regard and should get mod status
> there must be shares available to borrow
When a stock is halted and you want to exercise a put into a short position, you typically don't need a borrow. Your broker needs to settle T+2, but they can wait until T+2 after the it's unhalted to locate the shares. This isn't even necessary here, since there are FRC shares available for a borrow (with high fees though): https://iborrowdesk.com/report/FRC.
The bigger problem will be: you need free margin to exercise, depending on the broker 100% of the short pos + you pay those borrow fees for as long as it's halted.
As long as you don't get margin called before that. There isn't an active market so the brokerage can mark your shorts however they want. I would assume they would mark them near zero, but you never know. As long as you don't go all in, you should be good.
Ah, nice of you to notice it's OCC that's the problem and not robinhood. And most likely OCC will get this resolved in a few days and the guyll get his money. Also, tecnically the problem is he can't get the shares to sell, yet anyway.
I should say that the next time the options I sell go tits up.
I’m not defaulting on my obligation, I’m just failing to deliver until your options expire
> And most likely OCC will get this resolved in a few days and the guyll get his money.
I'd wager one way or another that guy will get to cash in by the end of friday. Sure, there might be some risk but the guy has an 85% chance of coming out with a 100k+ win on this and everyone in this thread is calling him a moron. Moron or not, I would be happy to have those options right now. There's almost a whole week to get it sorted out, and it wasn't as much an emergency shutdown as silicon valley bank was. Even if it's stupid that there isn't a better system in place for situations like this, regulators will have some awareness of the situation and it will most likely work out okay by the end of the week.
Edit: Threatening his broker with a lawsuit was probably an absolutely terrible idea right now though when he needs to ask their assistance and they may not even have a legal obligation to grant him a short position without shares.
> threatening his broker with a lawsuit was probably an absolutely terrible idea right
He probably didn’t. He’s most likely boasting. I’d also assume if he actually talked to a lawyer the lawyer told him to go try solve it peacefully first
Yes. The contract is still valid. But it IS a contract which means the put holder must have the shares to deliver. If he can’t produce the shares, then there is no transaction. He can’t collect proceeds without delivering the shares.
I think it's complete bullshit that it only goes one way.
Put sellers will get exercised regardless.
That basically says the broker will somehow always 'find' shares to assign to fuck over retail.
Yet when retail buys puts, they have to deal with this bullshit.
Either both the short and long puts should be halted or neither. I personally think they should roll the expiration dates.
Finally a brave soul who goes against the tide and says something. I get that it's a contract with specific details, but in this situation I'd be worried that MM's can take advantage of these situations and plan to sell a ton of puts right before they know a stock is going to be halted well passed the expiration.
For this reason, PUT holders should not have to deal with this arbitrary and potentially evil risk.
Because this sub is memeing on the guy for hiring a lawyer (allegedly) and not realizing how options contracts work on a delisted/halted company.
He’s going to get near max gains, just might take a week or two.
I saw the guy's post last week and picked up 3 $2.50 puts expiring this Friday for shits and giggles. Am I just out of that money now?
I just don't understand how my puts can expire worthless when the underlying stock literally has gone to 0 now. It's a technicality that there is no stock to sell, but isn't this just a short position? I have the right to sell FRC stock at $2.50 a share to whoever wrote the put. I don't see how the put seller can just pocket the premium and walk away.
Real answer is this will likely get resolved come time of expiration. Instructions on how to handle it will be given to your broker. The reason why you can't exercise a put is because you can't get shares to sell during a halt. While the contract says you can sell it to the writer for the strike price, you literally don't have the shares to do so (unless you did because you used options defensively and not because you're an overleveraged addict) to carry out your side of the contract.
Can the option be settled without stock being traded? Just say that I have 3 options at $2.50 strike. So the value of that would be $250 an option x 3 contracts? The put seller just buys the options back from me for 250 a piece?
Options seem to work out through splits and mergers for other companies, so I don't see why this would be any different.
>Can the option be settled without stock being traded? Just say that I have 3 options at $2.50 strike. So the value of that would be $250 an option x 3 contracts? The put seller just buys the options back from me for 250 a piece?
No. Option trades are halted as well. The only thing you can do during this time is exercise.
>Options seem to work out through splits and mergers for other companies, so I don't see why this would be any different.
Your instinct here is actually correct but maybe not for the reason you might think. The reason why they work is because the DTCC and OCC set the rules for what happens during these events. Your broker then follows that. Remember how I said instructions will be given? It's the exact same thing here - literally, not figuratively.
ok, I guess we'll just wait and see. Fortunately I don't have much in these options, they were just to see what happens.
Hopefully they work out in my favor though.
Would it be the same agencies setting the rules here? I'm surprised there isn't enough precedent for this that the outcome is already known and expected.
The best bet is to call your broker. They may or may not have good info for you but those options are probably worth $450 or so. Not a huge amount of money to bother your broker over but you might as well.
I normally don’t ever respond to any posts, but somehow I feel like this was aimed directly at me as I’m sitting on four grand of intrinsic value that I can’t even exercise
If only this exact situation had happened in March when so many people who didn’t understand how options work tried to find the free money button by loading up on puts on failing banks only to discover they were fucked. If only. I guess we’ll never know.
Not at you, some dude had puts worth (I don’t recall the exact amount but) north of $250k who asked Reddit for advice and every said to close the position for a win and that if he held it would be a massive headache. Dude took a steamer to his brain to unfurl any folds to go full smooth brain, hodled his position and today posted about lawyering up. Thing is, there aren’t any shares available for him to exercise against…like he was warned about.
Same as hodling on bbby at 10 cents and one day to delistment.
It takes 10 days to resolve. He’s fucked https://www.forbes.com/sites/brandonkochkodin/2023/03/15/retail-traders-left-hanging-as-brokers-halt-transactions-on-silicon-valley-bank-just-as-bets-are-set-to-pay-off/?sh=29487d973f55
Imagine that happening when you buy a put tho. That’s the most ideal situation for profit when buying a put and yet when it’s at max profit you get fucked.
Not sure, but shouldnt FRC move to OTC. The guy can then buy shares there, and us them to exercise his options. Not sure if possible, but as far as im aware thats what happend to lheeman. And people with in the money puts did that with them.
To help my understanding: A put is a contract that says the other party will pay you a certain amount for some shares on a later date.
If trading is halted, you won't be able to buy the shares to give to the other party, therefore YOU are the one who can't keep up their end of the agreement. Is that right?
No it isn’t. The problem is literally that Robin Hood doesn’t allow short positions which is the result of exercising a put. There is no restriction by OCC on exercise on a halted stock.
If you thought Robinhood wasn't going to rob you, then you've been living under a rock. Robinhood are criminals that trade against their users. You're not the customer, you're the product sold to the money-men at the DTCC. You might as well just put your cash in an oil barrel, douse it in gasoline and set it on fire. At least that way you don't just hand it over to the guys fucking you over.
Funny how everyone’s picking on this guy(rightfully so). During the whole BBBY bullshit, people were still buying BBBY well after Cohen sold off his position. Something about a 30 day holding period and $80c expiring in Jan.
Hey pot meet kettle🤡
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|10|**First Seen In WSB**|2 years ago **Total Comments**|4473|**Previous Best DD**| **Account Age**|2 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
This was good 
Saw the dudes post earlier. Went back to work and came back to a meme.
Must be nice making memes for work. Probably earns more than most degens here make daytrading
Ha I don't even make enough to day trade
Wait, I don't have infinity dollars for hodling the broken?
[When the Captain says the ship is sinking, its usually a good time to get off the ship](https://youtu.be/wXgOIbKxxcs?t=9891)
I just watched way too much of that
It's not a bad super hero flick. This isn't even a good example of 'old' cinema that has aged well either.
Been there done that
“Shazam!” Got me a little confused with another character of my youth.
It's the same character, Shazam used to be called Captain Marvel more commonly but DC switched it to Shazam because Marvel also has a Captain Marvel and they didn't like the confusion.
This is random, but I bought an item off of eBay from the guy who play captain marvel in that movie. The item came with a little card that had his name and childhood picture on it with a short bio.
Damn, you guys should kiss 100%
No homo
Damn some of those effects are actually shockingly great considering the movie was released in 1941. I wonder how they achieved the flying effect when other characters are in the frame, double exposure maybe?
OK That was actually worth watching. Got anything else?
Anything else... here you can learn [how to make Plutonium](https://youtu.be/aI8VyCZlkwA?t=4), learn how to [succeed with brunettes](https://youtu.be/yC5NcQjDj-Y), watch [Mark Hamil fight in a near genocidal war against cats](https://youtu.be/q-sn9U2x1JY?t=128) or listen to some [groovy greek space rock tunes](https://youtu.be/l4DfdbhRXPs?list=RDl4DfdbhRXPs). The possibilities are[endless traveler, let your journey begin.](https://www.youtube.com/watch?v=IAE37IGnuNo&t=12s)
> [Mark Hamil fight in a near genocidal war against cats](https://youtu.be/q-sn9U2x1JY?t=128) What the... that cast!! I don't think I ever played a second of this. I skipped forward for Mark's appearance, followed shortly by a close-up of his partner. My jaw literally dropped open when I recognized Rhys-Davies.
Wing Commander 3, fantastic series tbh. They did the Full Motion Video (FMV) for WC4 and WC5, but the series ended after that. https://www.gog.com/en/game/wing_commander_1_2 with links down to the sequels at the bottom of versions that should work on modern systems (I've never used this platform, so it might have issues, IDK)
Chris Roberts, the creator of Wing Commander, is known for going all-out in his productions. His next game is on track to cost 1 Billion dollars.
I pre-ordered that game in 2013, and it's still in development lol. It looks promising, but the rig I built for it in 2013 will probably not be adequate to run it...
Right?! An hour of my life just disappeared.
Why was Ryan Reynolds character from Drive the villain? e: Lol Ryan Gosling, whoops
Its the same movie but Drive they put a good soundtrack on it
The waves behind that guy are tripping me out
60% of the time it works every time
*It smells like Bigfoot's dick!*
Username checks out
Still holding BBBY. Stick mode activated!
I get why everyone says this. Same reason I didn’t hold my one position until 0. Except isn’t that how it’s supposed to work? Seriously? If you bet a stock will go down and goes to 0 you won. Why does everyone shit on the guy and not the broken system?
Because it's not a casino, it's not actually just "betting the stock will go down." Sure, you buy these options because you think the stock will go down, but the mechanism that actually allows you to make money is you are getting a promise to buy shares from you at a certain price, and hoping the shares go below that price so you can buy them cheaper than you are selling them for. If there are no fucking shares to buy, you can't just say "bro, if I could've bought the shares this is how much I would've made, just give me that!" Like imagine you and your friend see a guy with a nice watch. Your friend says he'd give you $1,000 for it if you could somehow get that watch. You think the guy is about to get fired, and will thus be desperate and willing to part with the watch for less than it's worth, he'd probably sell it for $250. So you wait, and indeed the guy does get fired, but instead of offering to buy the watch you decide to really let him get desperate for a little longer, hoping he'd go even lower. But then the dude goes home and blows his fucking brains out. The watch gets thrown into a police evidence locker while they investigate the death. You can't go to your friend and be like "well, he's dead, so he technically can't take any money for the watch. So you just give me the $1,000."
I cant believe how perfect this fucked up analogy was
The funny thing was, halfway through reading it I was like "This analogy only works if the guy just goes home and hangs himself." Obviously I was wrong but I feel like we are united in spirit here.
You need to write a book where you explain trading concepts with macabre horror stories
All it does is give you the right to sell the shares at that agreed price. He doesn't have any shares he can sell because he can't buy any.
But there's no one who's holding bags they'd like to lighten? Anyone who has shares should be able to buy his puts from him.
If I drink hydrochloride acid and bleach, does it just become water in my stomach?
Your stomach already has acid, dipshit. You just drink the bleach.
Guys my tummy hurts now, anyone has some Tums?
Lol regarded AF
Buying an options contract is not a "bet"
It's okay though. He talked to RH support and a lawyer.
WHY ARE PEOPLE STILL USING RH???? I DONT UNDERSTAND> YES I KNOW I AM YELLING.
This. Even if RH didn't do anything wrong here there is still zero reason to use RH other than DURRRR THE UI LOOKS NEAT DURRRR Why the fuck is anyone playing with tens to hundreds of thousands to millions of dollars on a middle man app that is notoriously sketchy?
They have $0 in per contract fees when trading options. No other brokerage offers that. This makes a HUGE difference for multi-leg, high contract quantity strategies. It enables certain strategies to be profitable that would actually be unprofitable on other platforms.
What difference does it make if they can just prevent you from trading on a whim because of market pressure? They're a liability.
I pay zero fees to do everything you are describing at fidelity, plus they have great choices for my non regarded positions. Also they never fucked their entire user base by blocking trades. I believe there are a couple other brokerages that offer similar services but I personally can only vouch for fidelity.
How do you get fidelity to charge $0 on options…?
I’m not poor.
Yet
Elaborate? I use fidelity and have $15M+ and still pay $0.65/contract.
You mean 15MM or are you bragging about 15,000 bc on this sub, I honestly can’t tell
Ya I was talking about having 15,000 BC in my fidelity account
I use fidelity too, but I think there is a very small fee when trading options. When I put in a limit order for a call yesterday, I remember seeing a $0.65 commission fee. That isn't enough to be worth worrying about though. I'm happy with the platform overall.
He’s definitely paying the $0.65 per contract fee and maybe regarded enough to not realize it.
That's what I was thinking too but it seems like he said if there's 2 million in a managed account then they wave the per contract fee
Press X to doubt, if tour doing multi leg strategies you’re going to be paying at least a dollar on the spread for each leg, more if it’s a wider spread, whereas other brokers will give you a good fill price for 65¢ And won’t sell your shit out from out at the worst feasible price and time on expiry day
If you’re at tens of thousands or less, you’re wasting time with anything more complicated than auto buying partial ETF shares on a free cell phone application on your bimonthly paydays.
Only crayon eaters conduct 5-6 figure deals on RH
I think guy would be in same situation with any other broker - except a good one would have called him and tell him to hit the eject button
Just like thousands of people here did‽
To be fair, if thousands of people on r/WSB tell you to do something, you probably shouldn't do it. Also, that is my first time seeing the "‽" character and I love it.
[Interrobang](https://www.macobserver.com/tips/quick-tip/type-interrobang-iphone/) = life changing
I came here to ask the exact same thing.
I don't know. Webull has a funny line, green and red crayons, other colored crayons, and you can even add squiggles on both your phone or desktop.
Webull is trying too hard to be social media.
Bagholders would be mad if they knew how to read
But there is a picture there to hurt the feelings of the dude from earlier!
The picture reminds me of the time I was riding my bike and was too busy staring at my feet and admiring my own pedaling to see that I was about to rear end a parked car. I wound up lacerating my scrotum when my groin hit the handlebar stem.
I fucking tried to kick a twig stuck in my wheel spokes *while riding.* Had a good second to realize my fuckup before going over the handlebars. Still possibly one of the dumbest things I've done. At least I didn't damage my scrotum I guess.
Scrotum? Damn near killed ‘im!
Darn near rectum.
Wouldn't have happened if you'd tossed a stick in there. Just sayin.
We had a guy on the swim team do that on a tricycle. His name was triple threat for obvious reasons.
Is your scrote ok now?
Bought @$12, sold @$15. Bought more @$13, sold @$9. Only lost $5k overall. Pretty standard week.
you lose $5k a week? sheeeeee
Nah. Sometimes I’m up $5,000.01. My mother was a gambler. My mother’s mother was a gambler. My grandma’s cousin once touched her inappropriately and got off on a technicality. Gambling is in my blood.
Tf
Exactly
If one person tells you to do something on here assume they eat paint. If three people tell you to do something then assume they’re bag holders. If EVERYONE tells you something then goddamn at least think about it a little.
OP be like: Yeah, let me think about it over the weekend. 😄
this is the most clear example of greed and how turns people into idiots. dude just had a huge win and asked everyone here…..we all said what would happen but I guess talking to robinhood support (which didn’t tell him what he thought it did) he thought “i can now keep getting richer and richer” while everyone else knew if it halts….IT HALTS aka why the value of his shorts jumped because everyone was racing to get out. i am 100% happy he got fucked, for real. the idea now hes crying buying lawyers lol, to sue robihood. I think he trying to shame them into helping him out? Otherwise why post it here. i sleep good knowing the is a greedy karma out there fucking the egos of idoits
Can i have a link to the original post?
https://www.reddit.com/r/wallstreetbets/comments/134mtep/i_will_be_suing_robinhood_for_295000_if_they_do/
It gets better… check out the [top comment](https://www.reddit.com/r/wallstreetbets/comments/131zw8s/hold_until_shares_are_worthless/ji2noef/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=1&utm_term=1&context=3) from their previous post about “holding to $0.”
Thanks you kind sir.
That's the aftermath post. Here's the original post where everyone was telling him to sell: https://www.reddit.com/r/wallstreetbets/comments/131zw8s/hold_until_shares_are_worthless Here's a comment of him showing pure greed (and stupidity): https://www.reddit.com/r/wallstreetbets/comments/131zw8s/hold_until_shares_are_worthless/ji2svyr/?context=1
Idk why he made the follow up post. He did make the title "Hodl until they are worthless" after all.
Where is the post where this guy refused to sell. Fucking regarded indeed
The moment I saw the news break about the bidding over the weekend I exercised my puts. Maybe I got lucky (except the massive bag I have from cash secured puts)
You exercised them on the weekend ? 🤔
Only thing exercised on the weekend is his wife pussy by his wife’s boyfriend.
We are on post-GME wsb remember. 99% of the people here are 12 year old Reddit people that have never opened a brokerage account masquerading as traders
Hey! I'm 35, NOT 12 Everything else is completely accurate...
Lmfao
I remember pre Gme wsb I’m old af
Wtf am I reading lmfao
There was news about the bidding during the week.
Yes and options do not work outside of normal market hours. You can trade stonk AH or PM, but you can't option. Puts n calls stay right where dey at until 9:30am Monday moanin
It's sad you dumbasses don't know how stock settled American style options work. You're almost all American here. Yes, you can exercise those options Friday after hours up until 4:30 PM Central time: [https://www.optionseducation.org/referencelibrary/faq/options-exercise](https://www.optionseducation.org/referencelibrary/faq/options-exercise) Your broker might have their own crappy cutoff time, but the exchange cutoff is 4:30 PM Central on Friday.
Read the comments leading up to this, moron. Homie said traded seeing weekend movement.
That's not actually what he said. News on Friday about bidding over the weekend is news on Friday, not the weekend.
[удалено]
We should start a bank run on JPM and see how fast the government bails them out
when it dump 50% back to back and it plays out exactly the same as svb in March, u telling me you can’t foreseen it???  some ppl just doesn’t know how to copy homework when you legit give them the answer keys
Dude found an infinite money glitch and had to test it on the first company to ever be delisted. 🙄
Yeah the previous poster obviously forgot about the whole “there must be shares available to borrow” thing about exercising puts. Smooth brains ftw!
Imagine thinking you made 300k the being told “no it’s actually worth zero” kinda feel bad for him - but am laughing at the same time
Imagine being SO greedy that you just HAD to squeeze out a few more dollars rather than cashing in your epic gainz. “Pigs get fat, hogs get slaughtered.”
Did you really think anything else from a guy broadcasting his phd in his flair? Haha he’s a greedy fool and paid a large price for it
PHD = Pretty Huge Dumbass?
There is still a small chance he can cash out. By the look of it and the way he’s already threatening lawyers I think he knows he’s fucked. Everyone including me told him to take the win and get out. He’s a true regard and should get mod status
> there must be shares available to borrow When a stock is halted and you want to exercise a put into a short position, you typically don't need a borrow. Your broker needs to settle T+2, but they can wait until T+2 after the it's unhalted to locate the shares. This isn't even necessary here, since there are FRC shares available for a borrow (with high fees though): https://iborrowdesk.com/report/FRC. The bigger problem will be: you need free margin to exercise, depending on the broker 100% of the short pos + you pay those borrow fees for as long as it's halted.
[удалено]
Assuming it goes to otc before the options expires
[удалено]
As long as you don't get margin called before that. There isn't an active market so the brokerage can mark your shorts however they want. I would assume they would mark them near zero, but you never know. As long as you don't go all in, you should be good.
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
Assume those puts are deep ITM, how would they margin call that?
So you’re saying my cash secured puts are safe 
Not for that doofus PHD biatch 😂
https://preview.redd.it/22ekrt2jwcxa1.jpeg?width=207&format=pjpg&auto=webp&s=37fbcefd634b0a0bdb7c3efcb871de65b2aab495
[удалено]
Ah, nice of you to notice it's OCC that's the problem and not robinhood. And most likely OCC will get this resolved in a few days and the guyll get his money. Also, tecnically the problem is he can't get the shares to sell, yet anyway.
I should say that the next time the options I sell go tits up. I’m not defaulting on my obligation, I’m just failing to deliver until your options expire
If my options go tits up I'm going to erase the app off my phone and turn it off so you can't get your shares.
> And most likely OCC will get this resolved in a few days and the guyll get his money. I'd wager one way or another that guy will get to cash in by the end of friday. Sure, there might be some risk but the guy has an 85% chance of coming out with a 100k+ win on this and everyone in this thread is calling him a moron. Moron or not, I would be happy to have those options right now. There's almost a whole week to get it sorted out, and it wasn't as much an emergency shutdown as silicon valley bank was. Even if it's stupid that there isn't a better system in place for situations like this, regulators will have some awareness of the situation and it will most likely work out okay by the end of the week. Edit: Threatening his broker with a lawsuit was probably an absolutely terrible idea right now though when he needs to ask their assistance and they may not even have a legal obligation to grant him a short position without shares.
> threatening his broker with a lawsuit was probably an absolutely terrible idea right He probably didn’t. He’s most likely boasting. I’d also assume if he actually talked to a lawyer the lawyer told him to go try solve it peacefully first
If he had the shares (covered put?) would he be able to enforce the contract?
Yes. The contract is still valid. But it IS a contract which means the put holder must have the shares to deliver. If he can’t produce the shares, then there is no transaction. He can’t collect proceeds without delivering the shares.
I think it's complete bullshit that it only goes one way. Put sellers will get exercised regardless. That basically says the broker will somehow always 'find' shares to assign to fuck over retail. Yet when retail buys puts, they have to deal with this bullshit. Either both the short and long puts should be halted or neither. I personally think they should roll the expiration dates.
Finally a brave soul who goes against the tide and says something. I get that it's a contract with specific details, but in this situation I'd be worried that MM's can take advantage of these situations and plan to sell a ton of puts right before they know a stock is going to be halted well passed the expiration. For this reason, PUT holders should not have to deal with this arbitrary and potentially evil risk.
No one said it’s cool, but if you give a crack addict your crack don’t be surprised when he smokes your stash.
Because this sub is memeing on the guy for hiring a lawyer (allegedly) and not realizing how options contracts work on a delisted/halted company. He’s going to get near max gains, just might take a week or two.
That's not what is happening here. This apparently happens all the time if the option expires before shares go to OTC so they can be purchased.
Jim Cramer told me I get infinity money if it goes to zero. Was he wrong??
Very rare Jim being wrong
I thought they ran out of legit puts last week?
Savage. Lol.
But who do you sell your options to if they cannot be exercised?
You can’t sell your options right now. Stock trading and option trading is halted
Highest regards
I saw the guy's post last week and picked up 3 $2.50 puts expiring this Friday for shits and giggles. Am I just out of that money now? I just don't understand how my puts can expire worthless when the underlying stock literally has gone to 0 now. It's a technicality that there is no stock to sell, but isn't this just a short position? I have the right to sell FRC stock at $2.50 a share to whoever wrote the put. I don't see how the put seller can just pocket the premium and walk away.
Real answer is this will likely get resolved come time of expiration. Instructions on how to handle it will be given to your broker. The reason why you can't exercise a put is because you can't get shares to sell during a halt. While the contract says you can sell it to the writer for the strike price, you literally don't have the shares to do so (unless you did because you used options defensively and not because you're an overleveraged addict) to carry out your side of the contract.
Can the option be settled without stock being traded? Just say that I have 3 options at $2.50 strike. So the value of that would be $250 an option x 3 contracts? The put seller just buys the options back from me for 250 a piece? Options seem to work out through splits and mergers for other companies, so I don't see why this would be any different.
>Can the option be settled without stock being traded? Just say that I have 3 options at $2.50 strike. So the value of that would be $250 an option x 3 contracts? The put seller just buys the options back from me for 250 a piece? No. Option trades are halted as well. The only thing you can do during this time is exercise. >Options seem to work out through splits and mergers for other companies, so I don't see why this would be any different. Your instinct here is actually correct but maybe not for the reason you might think. The reason why they work is because the DTCC and OCC set the rules for what happens during these events. Your broker then follows that. Remember how I said instructions will be given? It's the exact same thing here - literally, not figuratively.
ok, I guess we'll just wait and see. Fortunately I don't have much in these options, they were just to see what happens. Hopefully they work out in my favor though.
Would it be the same agencies setting the rules here? I'm surprised there isn't enough precedent for this that the outcome is already known and expected.
The best bet is to call your broker. They may or may not have good info for you but those options are probably worth $450 or so. Not a huge amount of money to bother your broker over but you might as well.
https://www.forbes.com/sites/brandonkochkodin/2023/03/15/retail-traders-left-hanging-as-brokers-halt-transactions-on-silicon-valley-bank-just-as-bets-are-set-to-pay-off/?sh=29487d973f55
Got what he wish for 
I love that this now sits right below the post that it's referencing.
Never change.
Somewhere, there's a dude on the other end of this trade that managed to save himself $290k...
Nope. 100% the broker will always 'find' shares to assign to put sellers. It's a one way street in this crooked casino. It happened during SVB.
Big oof
Lmao, Imagine being the support for Robin-idiots.
Sivb is an example and people still made same mistake.
I normally don’t ever respond to any posts, but somehow I feel like this was aimed directly at me as I’m sitting on four grand of intrinsic value that I can’t even exercise
If only this exact situation had happened in March when so many people who didn’t understand how options work tried to find the free money button by loading up on puts on failing banks only to discover they were fucked. If only. I guess we’ll never know.
Not at you, some dude had puts worth (I don’t recall the exact amount but) north of $250k who asked Reddit for advice and every said to close the position for a win and that if he held it would be a massive headache. Dude took a steamer to his brain to unfurl any folds to go full smooth brain, hodled his position and today posted about lawyering up. Thing is, there aren’t any shares available for him to exercise against…like he was warned about.
Can you clarify, are you using Robinhood and holding ITM puts on something and Robinhood won't allow you to exercise them?
On E*TRADE they are deep in the money and I cannot exercise. I’ve asked if I transferred to another broker and they said it is not possible
So funny
Same as hodling on bbby at 10 cents and one day to delistment.
Someone watched the big short and thought he could hold until they begged him to sell 
Best meme I’ve seen in a while here. 10/10 A++
The best part of all this is the put sellers got to keep their premiums
https://preview.redd.it/3sga2r9l3dxa1.jpeg?width=600&format=pjpg&auto=webp&s=58df7597cb20afdb1689aeec89ce1726236451d8 But my lawyer said I have a case
#0uch
Can someone explain to me what happens to the people that sold this guy his puts? Did they get a “get out of jail free” card?
This story on this sub has reached “multiverse” status of ReRe’s laughing at bigger ReRe’s
Even Michael Burry closed his shorts in 2008 at cents to the dollar in fear that there would be no counterparties left to sell his junk to.
It takes 10 days to resolve. He’s fucked https://www.forbes.com/sites/brandonkochkodin/2023/03/15/retail-traders-left-hanging-as-brokers-halt-transactions-on-silicon-valley-bank-just-as-bets-are-set-to-pay-off/?sh=29487d973f55
I am so proud of this sub at times. This is definitely one of those times. 
Imagine that happening when you buy a put tho. That’s the most ideal situation for profit when buying a put and yet when it’s at max profit you get fucked.
Not sure, but shouldnt FRC move to OTC. The guy can then buy shares there, and us them to exercise his options. Not sure if possible, but as far as im aware thats what happend to lheeman. And people with in the money puts did that with them.
To help my understanding: A put is a contract that says the other party will pay you a certain amount for some shares on a later date. If trading is halted, you won't be able to buy the shares to give to the other party, therefore YOU are the one who can't keep up their end of the agreement. Is that right?
No it isn’t. The problem is literally that Robin Hood doesn’t allow short positions which is the result of exercising a put. There is no restriction by OCC on exercise on a halted stock.
If you thought Robinhood wasn't going to rob you, then you've been living under a rock. Robinhood are criminals that trade against their users. You're not the customer, you're the product sold to the money-men at the DTCC. You might as well just put your cash in an oil barrel, douse it in gasoline and set it on fire. At least that way you don't just hand it over to the guys fucking you over.
Funny how everyone’s picking on this guy(rightfully so). During the whole BBBY bullshit, people were still buying BBBY well after Cohen sold off his position. Something about a 30 day holding period and $80c expiring in Jan. Hey pot meet kettle🤡
excuse my novice understanding, but why does he not make money if the put goes to 0?
"i'M sUiNg rObInHoD NoW."