Options trading

lol i dunno what to tell you man. it doesn't work like bitmex, you have to pay them back. if you think there's a chance your options will expire worthless then I guess take it. but the longer you hold those options the more exposed you get.

If you're short naked calls, buy the damn stock, now

if you're short naked puts, then either eat it and close the positions, or let it ride and hope for the best.

Either way you're going to have to free up some capital if this doesn't rebound before your margin call is due.

I thought so too

They already closed the position but i owe more

Peter what have you done lad

so you literally don't have enough capital to cover your sales? how did you get options approval?

yeah, bankruptcy is probably your best option. margin loans are not low interest rate. you owe the equivalent of a small house at a the interest rate of a personal loan with no underlying collateral.

whats the stock in question, where is your liquidation price (if any) where is your margin call price? And where is your break even price?

Fake and gay no way Robinhood would allow this

i filled out the form saying i had 10 years options experience and i had enough cash before this happened

They're brokers. Brokers are scum. They will fuck you sideways and over.

And now you have $0 cash? Shit man 108k would restart my life right now lol sorry Pete

so there's nothing i can do???

>Help a bro out what do /biz?
Pay them $108k like you owe, you nigger.

You are absolutely fucked, sorry.

Not really, unless you want to take a loan out to add to your margin and pray it goes your way.

What motivated you to take such a trade?

Have fun getting indicted for fraud lmaooooo

flee the country and live in some 3rd world shithole

dude options are CONTRACTS, when you sell the contract you take on the legal liability of fulfilling the terms. you can't weasel out of it unless you can prove that someone else was acting on your account without your consent; which is fraud if you're lying.

wait a minute did u sell options?

Guys I work at rite aid in upstate ny fo $9.60 an hour it'll take me a gagillion hours before i can pay that money back after rent
I'm writing to my congressman right now and am also working on a letter to robinhood but i plan on calling them first thing on monday because this is ridiculous i don't have $100k in cash lying around if i did i'd buy a boat but this is ridiculous

He could sue robinhood for targeting amateur brainlets. Those "robinhood general" threads would go down great kek.
But, of course, none of this actually happened so it doesn't matter.

Options are insanely volatile pete. If someone can make hundreds of thousands buying 200$ worth of calls on Disney then I suppose you can lose the same amount on your lunch money when it goes against you.

You didn't have a stoploss set? What were you thinking when you took this trade?
How much was your initial margin for the trade anyway?

You're a fucking retard, Pete. I hope you're larping, why would you do something so massive like this, you obviously have no experience in it. I suggest fleeing the country asap. You didnt do your research and now you deservedly will get anally raped for it, there is no way around this

Dude, all you have to do is click "unsubscribe".

Attached: Capture.png (453x72, 26K)

post a funny pink wojak!

unironically
poor pete

idk if legit but i unsubscribed and ditched my phone (I'm on my roomates laptop rn)

yeah i was just thinking that this was probably larp. had this one guy, retired boxer, went all in on AAPL on margin at the previous top. was getting margin calls every other day lol. ended up losing like 2-5 million in equity before it started rebounding. would've saved him alot of money if he just took the initial hit.

You're a real character, Pete. Lmao

Dude, you should buy a boat regardless. Boats are badass.

So when you signed up did you use your real name and info?

What's the worst that can happen now??
I mean i don't have anymore money and the only asset i have is a 2003 honda civic plus a galaxy express smartphone

Even if he used an alias I'm sure he hooked up his real bank account

hahahahahaha op dun goofed

i moved once but i used my real name

This has to be a LARP, please tell me this is a LARP

Wage garnishment, possible prison for fraud. Your probably gonna have to file for bankruptcy man

Tell me what stock you got rekt on, what your initial margin was and what your entry was or else this is a LARP.

They got you

the worst thing that could happen now is paying back $100k on a 8-15% interest rate while making what's probably minimum wage.

You have to admit they make it easy for people to rekt themselves.

Damn that's some shit straight out of Kaiji

OP gonna get a visit from the robinhood loan sharks and be sent to a work camp.

dumb larp

guys i'm not playing anymore here's what I'm gonna do:
I'm gonna call the lawyer (and robinhood) as soon as they open (9am monday morning) and explain everything that's happened.
I'm gonna have all my information ready and am going to try(?) to file for bankruptcy
maybe it won't be so bad or maybe robinhood will set me up with a payment plan over a couple of years but we'll see what happens
I seriously feel bad for what happened but I can assure everyone and I MEAN EVERYONE that I will never touch stock options ever and I mean EVER again!

Debtors prison.

Delete your Robinhood account and make a new one to start over at $0.

Tell me what trade you did bro???????

>actually calling them
they're gonna fuck you in the ass even harder

dude don't even bother with a payment plan. noone is going to lend to you with that debt anyways, might as well just go bankrupt.

There is a bug on robinhood where the trades update with a delay or something, so sometimes it shows negative before the liquidation gets recorded.

get a loan or five (while its still possible), open a few new accounts and double/treble down faggot. After all, you an experienced trader now

Funny part is that rh wont even take a loss, they will sell the debt to some rando debt collector for $50k (which is still profit for them) and your stuck with the bill

why are you spending so much time on this larp? dont u have anything better to do with your life?

anyone with an IQ above 80 can google image search OP and clearly see that's it from an old post from plebbit and not from OP...

Stop signing into the acct. Do not call them. Continue your wagie life. When they come to collect the money say it wasn't you. Blame it on stolen identity or roommate. Never own up to it, never.

i feel bad enough as it is man i don't want to suck anyone else into this
all I know is i wrote something on some things I thought weren't going to rise a while back and now I'm apparently screwed
I don't even remember what it was, I'd tell you but robinhood wont even let me login anymore b/c this is bullshit

Observe that they will continue offering advice even after you've pointed this out.

Ok well it sounds like you dont have any money or assets anyway. So just go talk to a lawyer monday. You will be ok

aww damn. oh well, most interesting thread on biz today regardless.

>falling for the larp
go back to wsb you retard

Attached: 1560394094906.png (179x282, 84K)

thanks man i plan on doing that and soon this will hopefully be all behind us
what an expensive lesson that was!

Nice LARP

FOUND THE ORIGINAL POST FROM REDDIT HERE:
reddit.com/r/wallstreetbets/comments/bjhefo/waking_up_to_cute_texts/

ALSO the guy managed to answer the call

Post:
reddit.com/r/wallstreetbets/comments/bjtp70/update_funding_secured/

Attached: Peter.jpg (828x1792, 153K)

>set limit at $10k
>flash crash to $9k
you are now forced to sell at $9k instead of $10k
same thing for getting margin called, except now you have a negative balance
never change Jow Forums, never change

this is why in almost every single /smg/ thread new traders are warned against using margin especially if you have less than 8 years of in the market trading experience.

there is literally nothing you can do, you owe Robinhood $100k

>F

srsly try not to kill yourself and just buy up a $6k position on RSR right now and wait out the storm for 2 years, you'll have all that money back plus another $500k

Jesus.

Remind me to never ever fuck with the boomers/kike’s casino system.

Also ironic ID
>KYC

OP, sorry for your loss. Hope you figure it out and get out with not too much damage done. You might have to pay now but (((they))) will pay later

Afraid of this. I don't have the app but am considering it. From what I can tell it looks way too easy to accidentally screw yourself over by clicking the wrong buttons. Would be worse if someone accessed your phone and put all your money in and several hours later you get a margin call for something you didn't intiate.