Good Old Fashion Nightmare.

 

 

 

After Conference the plan was to buy 28,000 VXX shares at 14.00 and sell 14 call against it .

Phone Call =

(A) Ok I am filling the order.

(B) How Many options did you get off?

(A) I have been filled on 1900 of the calls

(B) 1900 hundred? WHAT! You need to be selling One for every 100 Shares!

(A) I am, I have 900 of 2800 Working...

(B) What the hell, that's 280,000 shares not 28,000.

(A) Oh ok- FILLED ! on 280,000 shares, against 2800 calls.



MARGIN BALANCE after fills

Exactly one WEEK later.

 

 

 

Total underlying YEAR TO DATE (actually one week later trading time)

 

 

 

 

 

Better Lucky Then Good?