First time getting short options exercised. Thanks $NFLX

by HiRezolution1337

Well boys, looks like I messed up.

I did a calendar spread on NFLX before earnings (opened last week). I sold the 7/19 370 Put and bought the 7/26 370 Puts. Classic right?

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Well I nailed it on earnings. Thankfully I closed out from 10 contracts to only 2 long and 2 short before they declared earnings. I’m guessing in everyone’s panic to cover their short puts expiring Friday before they got exercised this caused the weekly to increase 300% whilst my put with a bit of time value only increased 150%. Technically 100% loss however I still own these puts to exercise so I’m covered right? Worse case risk-less exercise and I lose the premium I paid

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Got a notification at 10PM Mountain time that “My order for 200 NFLX has executed at 370” and immediately go OH SHIT and check my account.

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35K margin call in my sub 10K account. Didn’t get the notice till 10 at night which I thought was strange.

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Pre-market 7/19/2019

Do you think I still have a chance to come out of this thing green?

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I own 200 shares at 370 so I will have to sell, currently at 325ish so a 9K loss.. Assuming I do so I can do that then sell my puts and still net 125 bucks at least.

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I have fully embrace the autist and here I was thinking I was playing it safe. Thanks WSB

*EDIT I’ll get y’all a loss picture soon after work. My dumbass closed the puts out and held the shares when I should’ve either closed both or done the opposite. We all know where NFLX ended today. 11.75% loss in the account

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*EDIT

Posted the realized gain/loss and change in account value. Wiped out the other gains I had today and ate into my account hard.

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wiped out all my gains for the day and then some

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Realized losses.

Disclaimer: Consult your financial professional before making any investment decision.