Got Burnt...
$Meta Platforms(FB.US$ Attempted my very 1st short sell put options for yesterday..only for 1 unit! N omg... immediately got burnt.. Lost more than USD$5k overnight...What a painful expensive lesson for a noobie newbie.. 😭😭
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A newbie hoping to make this work..n hopefully it isnt really gonna take too many years to get there...
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Codee : What did u do? Why get burnt?
102667462 : what happen? share share lel
Orange J : If your option not yet expired, just hold on
NewMeOP Codee: (Short) sell a put option at strike price 300..Really is the very 1st time i attempted options trading for real, have just been trying it out with paper trading.. n tot i was being conservative already.. n then Gosh..FB crashed n burned in minutes post trading hours.. To close my position..i had to buy back the put option at horrendously increased price of more than 1k% of wat i sold it for resulting in more than 5k in 1 nite. so stupid me. owell...
NewMeOP Orange J: Cant. coz expiring today n hit margin call n even forced to liquidation..so no choice..
NG123 : average out ,,
102156141 : can feel the pain. I hope you can regain some of Yr losses
70193418 NewMeOP: Magain call sucks, I lost a lot of money since November, because Leveraged,and margin calls…
patricklowck123 : Never sell put on a stock that u are not prepared to own .Also never attempt to sell naked put if not u end up pant dropped
garyblack : very naive of you to think that FB is gonna go up and up and up
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