TheTalkingMule
Distributed Energy Enthusiast
Too much potential for bad craziness for me to do anything today. Maybe I'd sell naked puts if I were as rich as you folks. Things are trending well from a Tesla and national policy perspective, but it only takes one comment from one guy to sink this entire thing. And that guy is in the back pocket of the coal/fossil lobby. Gonna sit on my hands.
While staying out of volatility's warpath, a little house cleaning question:
I bought a single Jun2023 -$1300/+$1000 bull call spread a while back for like $3.5k.....thanks whoever suggested this free money. My problem is that Fidelity has these two contracts separated and the $1300 sold call is sitting as a covered call holding 100 shares of margin. The $1000 strike purchased call is then sitting alone as a very valuable naked call. Isn't half the point of buying this spread that there's no margin/share requirement?
Talked to a guy at Fidelity who said something about hierarchy and pairing, but he didn't seem too sure of himself. I have no other contracts that would conflict with these, and I think I know the root cause. A while back I got a federal margin alert because I used up all my good faith exemptions and wasn't letting things clear properly in my IRA. Don't think they handled it right, but it netted out to Fidelity closing out another sold TSLA call at this Jun2023 $1300 strike that I previously sold as a CC.
Think they basically just closed out the paired contract by accident rather than the single CC? Can I get these two existing contracts "re-paired" somehow so I don't have the short end holding 100 shares? I guess the answer might be to roll them into a new spread? Any help appreciated!
While staying out of volatility's warpath, a little house cleaning question:
I bought a single Jun2023 -$1300/+$1000 bull call spread a while back for like $3.5k.....thanks whoever suggested this free money. My problem is that Fidelity has these two contracts separated and the $1300 sold call is sitting as a covered call holding 100 shares of margin. The $1000 strike purchased call is then sitting alone as a very valuable naked call. Isn't half the point of buying this spread that there's no margin/share requirement?
Talked to a guy at Fidelity who said something about hierarchy and pairing, but he didn't seem too sure of himself. I have no other contracts that would conflict with these, and I think I know the root cause. A while back I got a federal margin alert because I used up all my good faith exemptions and wasn't letting things clear properly in my IRA. Don't think they handled it right, but it netted out to Fidelity closing out another sold TSLA call at this Jun2023 $1300 strike that I previously sold as a CC.
Think they basically just closed out the paired contract by accident rather than the single CC? Can I get these two existing contracts "re-paired" somehow so I don't have the short end holding 100 shares? I guess the answer might be to roll them into a new spread? Any help appreciated!