Monday, March 18, 2013

Really?


Some unnecessary stupidity this morning, but what's new?  

I got assigned on my BAC $12.50 calls.  Somehow, I had overlooked them in my trading frenzy.  I wrote in to E*Trade last Thursday asking them to place 'Do Not Exercise' requests on all expiring puts and calls.  They didn't bother writing back and I ended up calling them Friday, at which point they said it was too late to do anything about them.  I requested a credit for any resultant commissions, to which they agreed.

This morning, I woke up to a margin call after getting assigned at $12.57 per share on BAC.  I quickly got out at $12.38, losing $0.19 per share pre-market.

Quick loss, but losses could end up being steeper judging by how Nikkei did overnight with a -2.57% drop...

Could this be the week that my SPY puts will come in handy?


No comments: