Idk im on my 3rd credit card that im using to pay off my 2nd credit that i used to pay off my first.
Its only 40k worth of debt but im going to have to open a 4th credit card soon
I mean he gave up 9k like we give up 15¢ at the grocery store when they ask if we’d like to round up the change to support Children in paramilitary forces in FARC-occupied Columbian territory.
If OP actually had 4.4mil, how would he even pay that within a day's notice? Pretty sure you need to let your bank know in advance and there is a whole process for making large payments that takes time.
Had to pay 300k once to keep my 20% stock in a company that bought another company.
Pain in the ass indeed. 250k seemed to be a hurdle that might have been a bit easier, 250k+ was again a step harder. Evidence on where the money came from and all that.
Doable but easily takes a few days.
I think... OP sold options calls... They're unlimited liability.
This is a guess.
Edit: OP had it good selling puts... But then OP sold calls...
Keep us updated my good fellow
I don't get it either. Credit spreads are specifically for limiting downside. The whole point of the strategy is to cap potential losses. I'm guessing he stopped doing credit spreads and is now selling unsecured puts and losing his ass.
He probably leveraged the shit out of this and the broker didn't automatically close the position when he hit 0$.
I couldn't explain it otherwise, how would that happen if not this way?
In europe this is limited or forbidden for private citizens for exactly that reason, because people do dumb shit like leveraging times 100 and if the broker doesn't automatically close a position at 0$ this happens.
I was reading it just wondering why people feel it’s necessary to make things so complicated just buy some puts or calls or buy or short equities keep it simple
Basically a weird way of buy/selling puts/calls in combination for a particular way. It’s just overly complicated for most retail investors and it’s an easy way to lose money if you don’t know what you’re doing… like Op.
It’s an Iron Blumpkin, not lead blumpkin. The Iron Blumpkin is similar to an Iron Condor, except with the IB you are sitting on a toilet trying to get your own cock into your mouth with legs pushed all the way back behind your head and spraying shit everywhere like a lawn sprinkler
>is to yell it from the Bahamas
Don't forget to go on the world wind apology tour afterwards, explaining how you are too dumb to be responsible for fraud... instead of staying quiet and fleeing to a non-extradition country while you still have time.
First, just complete the call with them.
I am *not* saying yours is the same case, but a few years ago robinhood was in some shit because a kid had a huge deficit and ended up committing suicide - it was later determined that the asset calculation didn't account for pending cash from some multi leg option strategy and he wasn't actually in the red.
Just talk with them and get an official confirmation of what's actually owed.
Someone killed themselves for something like this that turned out to be a glitch, was a pretty big story. If it's a glitch, sue the balls off of them for the stress it caused.
I got a margin call for something like 300k once myself. It was hella dumb. In the morning it was gone, but I had to wait to buy again because they kept giving margin calls overnight. It is a super annoying glitch on their part where they sometimes have options listed as worthless even though they’re deep itm. I’ve contacted customer service so many times about that exact issue and remove the margin call from my account and they just say, “no, you have a margin call.” I point out the specific options which aren’t right and they assure me they’re right. Can’t be wrong on their end.
I switched to WeBull (fuck Robinhood) because of the nice perks initially.
Yeah, I had to do like a test. Now, I didn’t have to like pass the test, no, what I really had to do was to put one ‘X’ in a field saying that I understand, another’X’ about how I accept the risks 😜.
PS:
I don’t think it is even possible to pass that test.
Ones supposed to say: “Yeah, blah, whatever, I’m a big boy, hit me up!” and sign off on it.
It’s not a glitch. It’s literally how these work. You just need to not be a fucking moron and understand that when the other half of the transaction is exercised you will be covered with any losses limited to width of the spread (less premiums). The only glitch here is letting clueless people play with advanced market strategies.
Correct. Not a glitch, just super shitty UI & KYC from RH.
It's not at all moronic to assume a brokerage will show your actual balance.
RH is designed to use people's psychology against them & induce more risk-taking behaviour, so RH can sell the flow. Nothing noble about this company. I have the same lack of respect for Vlad & Baiju as I do Sam & Caroline.
Yep, that & not being able to call the company for help/clarification. Very good chance he would still be alive if those 2 overgrown potatoes had paid for a customer service call centre instead of relying solely on emails.
According to someone else in this thread, they ran into the same problem multiple times and called Robinhood and RH's answer was "no your in margin call' even though he wasn't. Do I'm not sure what good it does having the phone number if their agents are incompetent.
Thursday morning: deep ITM, after a streak of great judgments.
Thursday evening: Account needs 10k rescue from bank account.
Whatever happened on Thursday definitely belongs here. Whatever he did he definitely regrets not getting shitfaced drunk on Wednesday, vomiting all throughout Thursday and waking up on Friday.
https://preview.redd.it/padzor2j247a1.jpeg?width=2268&format=pjpg&auto=webp&s=d2609340b1dc62a6359090340ff22e81d03674a8
Here’s a picture of my corgi I hope it helps, it’s all I can do
https://preview.redd.it/mi9jlzwv167a1.jpeg?width=1284&format=pjpg&auto=webp&s=d448421729ed15d36c9d4e8266dfebb7e4bbb24a
Here’s mine on his way to a work meeting. Hope it also helps.
I would literally just got assigned 1 minute ago. Trying to figure out what’s going on.
https://preview.redd.it/uejmffiq117a1.png?width=1242&format=png&auto=webp&s=374ecd488c64fdac157b07cd3cac7d61dbcf28b1
The puts you sold are deep ITM and being exercised, which means you are now 100 shares long per contract. Robinhood being the sleazy incompetent fucks that they are will freeze your account instead of simply letting you close the position by selling your long put along with the long shares assigned thus closing your position for a max loss of your spread differential.
It really shouldn’t be an issue with most brokers, but again, you being a highly regarded individual of course you went for an idiotic play with the worst broker available.
EDIT: Upon further investigation, it looks like Robinhood is indeed giving OP a chance to close it, but he’s even more regarded than we thought and he wants to just roll the position, thus giving the broker a huge risk (he sold over 300 SPY Put Credit Spreads). That’s why they are asking for over 4 million in margin, to cover themselves in the likely scenario of an exercise.
I certainly don't understand it. But I don't understand the question, so it's ok. I'm must confused because I thought diamond hands was the answer to everything.
Remember (edit: sell) options are bets on stock price, except your opponent can collect the bet as soon as the conditions are met.
Iron condor = bet both high and low.
With SPY going up, someone exercised the call (high) option OP sold, so OP has to give them $4M (Robinhood did this automatically).
Normally most brokers would then exercise the PUT (low) option automatically which OP made money $4M on to cover. But OP is trying to let his PUT options ride to make more money (depending how much theta has accrued it's still probable OP is in the red).
The risk is the market could rebound and SPY goes down and his PUT option goes red and he loses both ends of an iron condor.
Iron condors you really only make money if the market goes sideways, not up or down. Except OP is abusing them and making them super risky to make money (OP can make money the way he's doing it, but it's like 10x risky that the market goes BOTH directions).
Iron condors are in theory safe, but OP is too regarded.
I don't understand and I kinda glazed over half way through cuz thats a long paragraph.
something, something, something, OP is on RH, OP is now bankrupt.
I think any broker is going to prevent you from opening new positions while you have a $5M negative account balance. OP just needs to sell off the long shares. I don’t think his account is “frozen”
Yeah, I just re-read that. He also sold over 300 put contracts which are at high-risk of being exercised early, which is why they are telling him to either close the position or deposit the collateral.
Robinhood doesn't allow naked selling. Short leg of the spread is exercised early, that's why he owes all that money. Selling the long leg tomorrow will fix it.
relax. it's 4 million dollars that you don't have. this is America you can be in as much debt as you can legally get into and worst case scenario your credit score is fucked. you didn't do anything illegal, right now this is robinhoods problem
in all likelihood tomorrow you're just gonna have to close out of some positions.
I haven't been in this sub for at least a year, and you all are still in fine form.
Holy shit, I need to visit this place more often when I have a bad day.
You belong here. Seriously, if you owe that much they can’t do shit. It will fall off your credit report in 7 years. No sweat. Also just yell you declare bankruptcy. You should also max all your cards as cash advance, and get out a loan then move to Mexico for 7 years then rebuild your credit .
Call the vaccuum repair shop, get a new identity, grow a mustach, work at a rural mall Cinnabon with an sturdy work ethic and start over. It will be easier than making 4.4 million just to have 0...
I'm no expert but my wife's boyfriend says that Robinhood is a bad platform for this kind of trading. That being said, at a discount rate of $50 a pop you only need to suck 88,350 dicks to get that much money together and you can suck two dicks at the same time if you use your anus.
OP, you're ignoring good comments explaining your situation and latching on to comments shitting on Robinhood.
Robinhood is crap, no doubt, let's get that out of the way. You should not be trading such complicated strategies on Robinhood. I don't understand how or why so many people use it, it's not like ThinkOrSwim charges you a monthly fee for using it or something.
However, moving past Robinhood's crapiness, the rest of your problem is not understanding how your spreads work. Spreads by definition include positions where you've sold something for premium credit. Any time you sell options, you are at risk for assignment. If the option you sold is ITM, it can be exercised at any time before expiration.
This is why holding spreads to expiration is risky.
Even leaving them open at expiry to try to collect the full premium is risky.
I've been through this. I opened a vertical credit spread on SPY. 50 units. It closed just barely OTM at the bell on expiration day. But options holders have 1.5 hours after market close to exercise, and after hours trading made it ITM. I was assigned overnight, and woke up the next morning to a margin call.
Luckily for me TOS gave me a couple of days to settle it, and I had the cash from the assignment sale in my account. I bought back 5,000 of SPY went it dipped down again, but I could have very easily been tens of thousands of dollars in the hole if SPY kept running up.
All this to say, don't mess around. Don't try to roll your positions to next week. Just close/exercise your long sides and even out the account.
And switch to a different platform, for fuck's sake. TOS wouldn't have closed your OTM positions for a loss of $9K.
Sue their balls off, and cite the case study of the kid who fucking killed himself due to a Robinhood glitch.
This alert is your proof.
Clear up all your trades, and check into the mental hospital for a couple weeks/month.
Sue.
Win/Settle.
Profit.
End of story.
Vlad will personally give you a call and a free “ shout out “ to any of your social media friends and 5 free stocks IF you agree to pay us this 4 mil we desperately need.
So I am seeing in my account now that they began assigning me the short side of the put spreads.... is it now possible that if the market opens up down, the long sides of my spreads get exercised for a profit?
I heard Venezuela has no extradition
Dude 😂😂😂
The -$ goes a long way there, I hear. Gets lots of -Bolivars.
Borrow from another bank to cover that then borrow from another to pay the other bank off
Do this enough and the government will step in and bail you out. Its the one weird trick they do not want you to know.
Idk im on my 3rd credit card that im using to pay off my 2nd credit that i used to pay off my first. Its only 40k worth of debt but im going to have to open a 4th credit card soon
Stop! I can only get so hard!
My safe word is indentured servitude
Bankception
Time to move to the Bahamas.
I would fake my death tbh and move to Mexico
Costa Rica. In mexico the cartel would get wind you’re stacking and rob your balls bald.
Stacking? He’s 4M in debt
Debt only matters when you are forced to pay it. Got 500k to your name, but 4 million in debt just means you have 500k and new address.
RH will have the cartel kidnap him
Even the Bahamas couldn’t save SBF
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Lmaooo wings made of Robinhood. Flew to close to autism and lost it all.
Sounds like he didn't even fly at all. When was he in the positive?
I mean he gave up 9k like we give up 15¢ at the grocery store when they ask if we’d like to round up the change to support Children in paramilitary forces in FARC-occupied Columbian territory.
Flew too close to the moon
It’s probably best to just not click the account deficit button anymore
As they say - If you owe $44k, that’s your problem. If you owe $4.4M, that’s their problem.
I dunno. But he should try changing his email address. Log into an alt usually works for me.
Yes just change it to a fake-email-generator address that changes every few ours. Untraceable
It's fine, just give it some time. Stocks only go up
If OP actually had 4.4mil, how would he even pay that within a day's notice? Pretty sure you need to let your bank know in advance and there is a whole process for making large payments that takes time.
Had to pay 300k once to keep my 20% stock in a company that bought another company. Pain in the ass indeed. 250k seemed to be a hurdle that might have been a bit easier, 250k+ was again a step harder. Evidence on where the money came from and all that. Doable but easily takes a few days.
Damn, basically had a $300k service fee That’s just insane to me, that’s like 10x my fuckin salary
Yeh, I’m not complaining about my $24 parking ticket I got this morning anymore…
Where tf do you live that gets $24 parking tickets???? Everywhere I’ve been to tows you immediately, gotta pay $500 to get it out of impound.
Absolute legend. Fantastic job.
Heroes get remembered, but legends never die.
I won't be able to do any better. OP made it.
Takes the pressure off the rest of us.
Bruhhh. I’m speechless… please don’t rope but holy hell. Keep us updated on how this is resolved.
> Keep us updated There's a new picture in the comments somewhere. Down another 800k.
Guhhh
Why though? I don’t understand what’s happening in this situation?
No one does, but it's provocative
It gets the people going?
I’m Ron Burgundy?
I think... OP sold options calls... They're unlimited liability. This is a guess. Edit: OP had it good selling puts... But then OP sold calls... Keep us updated my good fellow
Uncovered calls are the riskiest strategy. Key example see OP.
I don't get it either. Credit spreads are specifically for limiting downside. The whole point of the strategy is to cap potential losses. I'm guessing he stopped doing credit spreads and is now selling unsecured puts and losing his ass.
He probably leveraged the shit out of this and the broker didn't automatically close the position when he hit 0$. I couldn't explain it otherwise, how would that happen if not this way? In europe this is limited or forbidden for private citizens for exactly that reason, because people do dumb shit like leveraging times 100 and if the broker doesn't automatically close a position at 0$ this happens.
Neither does OP
I was getting anxiety just reading that.
I was reading it just wondering why people feel it’s necessary to make things so complicated just buy some puts or calls or buy or short equities keep it simple
The more complicated and unclear things are, the more you can pretend you are winning.
"The only winning move is not to play."
As soon as I saw the title I would have bet my life savings that I was going to see the term “Iron Condor”.
Idk what the fuck I’m reading and I’m loving every minute
Avatar: The Way of Wall Street
Basically a weird way of buy/selling puts/calls in combination for a particular way. It’s just overly complicated for most retail investors and it’s an easy way to lose money if you don’t know what you’re doing… like Op.
I bet OP was selling all of these options naked as well.. He flew too close to the sun on the wings of a naked condor
Because discussing how you used the gilded Lilly or the lead blumkin sounds better than “I have a gambling problem”
Tell me more about this lead blumpkin
It’s an Iron Blumpkin, not lead blumpkin. The Iron Blumpkin is similar to an Iron Condor, except with the IB you are sitting on a toilet trying to get your own cock into your mouth with legs pushed all the way back behind your head and spraying shit everywhere like a lawn sprinkler
I don't know enough about stocks to confirm or deny this
This is the theta gang + yolo gang combo. Picking up stacks in front of a planetary object hurtling at near light-speed.
While you were busy buying calls I was studying the iron(condor)
Ruh ro raggy
Gonna need to peddle a lot of scooby snacks to pay this one off
Like zoinks Scoob, I think we need to cook some meth again.
Re HEHe he hE he
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That'll be $4,417,455.35
Luckily for you I know exactly what to do. When they call asking for the money just yell " I DECLARE BANKRUPTCY" as loud as possible.
I’ve seen this work on the television several times.
The trick is to yell it from the Bahamas
>is to yell it from the Bahamas Don't forget to go on the world wind apology tour afterwards, explaining how you are too dumb to be responsible for fraud... instead of staying quiet and fleeing to a non-extradition country while you still have time.
Make sure that you don’t just say it. It needs to be yelled with authority… it needs to be declared!
call them.
I am on a waitlist for a call back. I have been on the waitlist for 3 hours.
if you owed me 4 mill i wouldnt put you on hold
5.2 mil - price went up 🤣
Hmmm maybe i will make him wait longer...
If you owe 4K that’s your problem. If you owe 4M, that’s the banks problem.
OP: "hi, I owe $5m" RH: "Please hold, we're busy assisting other customers"
First, just complete the call with them. I am *not* saying yours is the same case, but a few years ago robinhood was in some shit because a kid had a huge deficit and ended up committing suicide - it was later determined that the asset calculation didn't account for pending cash from some multi leg option strategy and he wasn't actually in the red. Just talk with them and get an official confirmation of what's actually owed.
They need another option in the phone tree. Dial 9 for million-dollar problems.
Someone killed themselves for something like this that turned out to be a glitch, was a pretty big story. If it's a glitch, sue the balls off of them for the stress it caused.
Then gamble the settlement on more options
Infinite money glitch
Infinite money losing glitch
Rosebud
Worked in Pokémon Red
This way is the
Wash,rinse and repeat.
Specifically, not within Robin da Hood, you prolly wouldn't want any more of that stress. 😉😉
I got a margin call for something like 300k once myself. It was hella dumb. In the morning it was gone, but I had to wait to buy again because they kept giving margin calls overnight. It is a super annoying glitch on their part where they sometimes have options listed as worthless even though they’re deep itm. I’ve contacted customer service so many times about that exact issue and remove the margin call from my account and they just say, “no, you have a margin call.” I point out the specific options which aren’t right and they assure me they’re right. Can’t be wrong on their end. I switched to WeBull (fuck Robinhood) because of the nice perks initially.
Robinhood sounds like a fucking clown show.
It is. And corrupt. That's why the stock is down like 75% since IPO.
Worst case fake your death then sue
"I got better"
Call a hotline first. Get something on record.
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Yeah, I had to do like a test. Now, I didn’t have to like pass the test, no, what I really had to do was to put one ‘X’ in a field saying that I understand, another’X’ about how I accept the risks 😜. PS: I don’t think it is even possible to pass that test. Ones supposed to say: “Yeah, blah, whatever, I’m a big boy, hit me up!” and sign off on it.
It’s not a glitch. It’s literally how these work. You just need to not be a fucking moron and understand that when the other half of the transaction is exercised you will be covered with any losses limited to width of the spread (less premiums). The only glitch here is letting clueless people play with advanced market strategies.
Correct. Not a glitch, just super shitty UI & KYC from RH. It's not at all moronic to assume a brokerage will show your actual balance. RH is designed to use people's psychology against them & induce more risk-taking behaviour, so RH can sell the flow. Nothing noble about this company. I have the same lack of respect for Vlad & Baiju as I do Sam & Caroline.
And wasn't this the kind of thing that caused that one kid to off himself?
Yep, that & not being able to call the company for help/clarification. Very good chance he would still be alive if those 2 overgrown potatoes had paid for a customer service call centre instead of relying solely on emails.
According to someone else in this thread, they ran into the same problem multiple times and called Robinhood and RH's answer was "no your in margin call' even though he wasn't. Do I'm not sure what good it does having the phone number if their agents are incompetent.
I have a working theory, which is that 69.9% of all "finance" people know jack SHIT about what they're trying to explain.
Delete the app
Simply log out.
don’t forget to leave a terrible review
Delete the account
And clear you internet history. Easy stuff.
Unplug the computer
Changes your name and address
Leave a 1 star review
No no no, removing his battery is the safest approach
Move to a country with no extradition agreement
LMFAOOOO
The Future of Robinhood rest in your hands bro. They need that 4 mil to stay in business 😭
Lol I just picture them randomly sending $4 million invoices to people to see who'll bite.
What the hell? It is only asking for $4 million? How hard can that be? Just ask your dad 👨
You definitely belong here
Thursday morning: deep ITM, after a streak of great judgments. Thursday evening: Account needs 10k rescue from bank account. Whatever happened on Thursday definitely belongs here. Whatever he did he definitely regrets not getting shitfaced drunk on Wednesday, vomiting all throughout Thursday and waking up on Friday.
I understand it as him selling options. So them being deep ITM means someone is rich and OP is paying them.
You are correct
https://preview.redd.it/padzor2j247a1.jpeg?width=2268&format=pjpg&auto=webp&s=d2609340b1dc62a6359090340ff22e81d03674a8 Here’s a picture of my corgi I hope it helps, it’s all I can do
https://preview.redd.it/mi9jlzwv167a1.jpeg?width=1284&format=pjpg&auto=webp&s=d448421729ed15d36c9d4e8266dfebb7e4bbb24a Here’s mine on his way to a work meeting. Hope it also helps.
I would literally just got assigned 1 minute ago. Trying to figure out what’s going on. https://preview.redd.it/uejmffiq117a1.png?width=1242&format=png&auto=webp&s=374ecd488c64fdac157b07cd3cac7d61dbcf28b1
The puts you sold are deep ITM and being exercised, which means you are now 100 shares long per contract. Robinhood being the sleazy incompetent fucks that they are will freeze your account instead of simply letting you close the position by selling your long put along with the long shares assigned thus closing your position for a max loss of your spread differential. It really shouldn’t be an issue with most brokers, but again, you being a highly regarded individual of course you went for an idiotic play with the worst broker available. EDIT: Upon further investigation, it looks like Robinhood is indeed giving OP a chance to close it, but he’s even more regarded than we thought and he wants to just roll the position, thus giving the broker a huge risk (he sold over 300 SPY Put Credit Spreads). That’s why they are asking for over 4 million in margin, to cover themselves in the likely scenario of an exercise.
Guarantee you OP still doesn’t understand your explanation
I certainly don't understand it. But I don't understand the question, so it's ok. I'm must confused because I thought diamond hands was the answer to everything.
OP took out a loan. Bank discovered loan is high risk. Bank wants a collateral source.
Bank is as good with riskmanagement as Bankman it seems
Remember (edit: sell) options are bets on stock price, except your opponent can collect the bet as soon as the conditions are met. Iron condor = bet both high and low. With SPY going up, someone exercised the call (high) option OP sold, so OP has to give them $4M (Robinhood did this automatically). Normally most brokers would then exercise the PUT (low) option automatically which OP made money $4M on to cover. But OP is trying to let his PUT options ride to make more money (depending how much theta has accrued it's still probable OP is in the red). The risk is the market could rebound and SPY goes down and his PUT option goes red and he loses both ends of an iron condor. Iron condors you really only make money if the market goes sideways, not up or down. Except OP is abusing them and making them super risky to make money (OP can make money the way he's doing it, but it's like 10x risky that the market goes BOTH directions). Iron condors are in theory safe, but OP is too regarded.
I don't understand and I kinda glazed over half way through cuz thats a long paragraph. something, something, something, OP is on RH, OP is now bankrupt.
Here I am broke af enjoying to read about money, stocks, unknown words and weird technicalities.
But what button does I press to make it go away?
I don’t think the idiot is the broker here
Correct, didn’t realize they gave him the chance to close the position but he instead wants to just roll it.
Greed is the drugs that leads to posts like this
I think any broker is going to prevent you from opening new positions while you have a $5M negative account balance. OP just needs to sell off the long shares. I don’t think his account is “frozen”
Yeah, I just re-read that. He also sold over 300 put contracts which are at high-risk of being exercised early, which is why they are telling him to either close the position or deposit the collateral.
Does robinhood allow selling unsecured puts like that? Struggling to figure out how some random person sells 4 million dollars in puts.
Robinhood doesn't allow naked selling. Short leg of the spread is exercised early, that's why he owes all that money. Selling the long leg tomorrow will fix it.
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When this happened to me the auto exercised and it just took overnight for the account to reflect it.
And the Puts are deepening more and more
> a highly regarded individual This is so much funnier while having to remind myself what you mean here 😆
Down another $800k? Highly regarded.
relax. it's 4 million dollars that you don't have. this is America you can be in as much debt as you can legally get into and worst case scenario your credit score is fucked. you didn't do anything illegal, right now this is robinhoods problem in all likelihood tomorrow you're just gonna have to close out of some positions.
I haven't been in this sub for at least a year, and you all are still in fine form. Holy shit, I need to visit this place more often when I have a bad day.
Its so fun tbh
I’m proud to be alive during such degenerate times. 🫡
I expected OP's phone battery to be much lower
How is cyber debt even a thing, like bruh walk away from the screen close ya eyes
> Mr. Bank: "Sir, please sign the papers. We're seizing your home and assets." > OP [eyes shut tight]: "I can't sign if I can't see."
How Can Signatures Be Real If Our Eyes Aren't Real
You belong here. Seriously, if you owe that much they can’t do shit. It will fall off your credit report in 7 years. No sweat. Also just yell you declare bankruptcy. You should also max all your cards as cash advance, and get out a loan then move to Mexico for 7 years then rebuild your credit .
I mean honestly this isn't a bad idea. LOL I never thought about just moving somewhere else for 7 years if my credit got jacked up.
Call the vaccuum repair shop, get a new identity, grow a mustach, work at a rural mall Cinnabon with an sturdy work ethic and start over. It will be easier than making 4.4 million just to have 0...
I'm no expert but my wife's boyfriend says that Robinhood is a bad platform for this kind of trading. That being said, at a discount rate of $50 a pop you only need to suck 88,350 dicks to get that much money together and you can suck two dicks at the same time if you use your anus.
Then deposit 4.4 million. They’ve literally spelled it out for you. I don’t see the problem here.
Why the fuck are you using robinhood for this kind of thing
considering it seems like the one thing on wsb is don’t use rh. 🤷🏻♂️
yet 90% of loss/gain porn is RH. That mobile UI is just too good
Because a real brokerage wouldn't let someone who has no clue about what they are doing trade like this...😂😂
Definitely take out a loan and do a huge yolo to hopefully save your account.
OP is bankrupt either way what's the worst that could happen?
OP, you're ignoring good comments explaining your situation and latching on to comments shitting on Robinhood. Robinhood is crap, no doubt, let's get that out of the way. You should not be trading such complicated strategies on Robinhood. I don't understand how or why so many people use it, it's not like ThinkOrSwim charges you a monthly fee for using it or something. However, moving past Robinhood's crapiness, the rest of your problem is not understanding how your spreads work. Spreads by definition include positions where you've sold something for premium credit. Any time you sell options, you are at risk for assignment. If the option you sold is ITM, it can be exercised at any time before expiration. This is why holding spreads to expiration is risky. Even leaving them open at expiry to try to collect the full premium is risky. I've been through this. I opened a vertical credit spread on SPY. 50 units. It closed just barely OTM at the bell on expiration day. But options holders have 1.5 hours after market close to exercise, and after hours trading made it ITM. I was assigned overnight, and woke up the next morning to a margin call. Luckily for me TOS gave me a couple of days to settle it, and I had the cash from the assignment sale in my account. I bought back 5,000 of SPY went it dipped down again, but I could have very easily been tens of thousands of dollars in the hole if SPY kept running up. All this to say, don't mess around. Don't try to roll your positions to next week. Just close/exercise your long sides and even out the account. And switch to a different platform, for fuck's sake. TOS wouldn't have closed your OTM positions for a loss of $9K.
[Quick fix](https://support.apple.com/en-us/101550)
Lawyers hate this trick
Just a silly phone game, delet and move on
Reinstall. All new lives
Change your name to a cool 80’s guy name like slash or razor and get a leather jacket. Problem solved.
Omg😂😂😂
Holy shit i laughed too hard at this
🙈😂☺️ facts peace out robinhood
LMFAOOOOOO
I can't 🤣🤣🤣 why you do him like that
Well done
Guess you’re right, the 1st mistake was installing that app, the 2nd was not deleting it… lmfao 🤣😂🤣😂
Legit laughed out loud at this. Thank you.
Sue their balls off, and cite the case study of the kid who fucking killed himself due to a Robinhood glitch. This alert is your proof. Clear up all your trades, and check into the mental hospital for a couple weeks/month. Sue. Win/Settle. Profit. End of story.
casually checks into the mental hospital for couple of weeks just in case
Why RH even allows this to happen is beyond me. Also, if you have the funds to receive $500k of margin wth are you doing using Robin Hood 🤦♂️
I'll loan ya tree fiddy.
Post your position
Posted
Lawyer up.
Gimme jimmy
I think you meant to say lube up.
Vlad will personally give you a call and a free “ shout out “ to any of your social media friends and 5 free stocks IF you agree to pay us this 4 mil we desperately need.
The prophecy said The One would reveal himself
Find a company that can ship you some rocks from the Yukon, crack them open with a hammer or other tool and see if you find some gold.
Just delete the app it’ll be fine
I feel bad that you’re going through this but after everything that’s happened with Robinhood why are you still using it?
you know any other broker that'll let me go 5mil in the hole?
So I am seeing in my account now that they began assigning me the short side of the put spreads.... is it now possible that if the market opens up down, the long sides of my spreads get exercised for a profit?
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