SPY

RepairSubstantial735

SPY is sitting at $732.34 on coinglass

Mother-Ad2723

And so...... This would cause SPY to theoretically drop by that amount at the x-div date? The next question would be, how does SPY get back on track to its 1/10 ? We see that ETFs like SLV stop tracking over time due management fees eroding the NAV, but SPY has always tracked in terms of its market price. Help me understand.

SignalX_Cyber

My broker says SPY is 731 but trading view says SPY is at 728, which one is lying?

Piganon

OP, I hope you read that comment.  Except the last part about selling the SPY shares.  Instead, sell a call until you get assigned again.  You'll gain an immediate profit for that sale.

j2l9a

https://preview.redd.it/fsyo5hgvru9h1.png?width=1314&format=png&auto=webp&s=e3c61613d21c9a84c1be010624ec90f3e81fa81e SPY did what you wanted. Just inverse though and it came back like nothing. 😅

afishinacar

Essentially he sold a put, which means he gave someone a personal guarantee that he'd buy 100 shares of SPY at 733 any time up until 6/26. Because SPY closed at 729 on 6/26, that contract is valuable, because someone can sell their shares for 733 when the price is 729. So, they exercised it forcing him to buy those 100 shares. Now that they're his, he can do what he wants with them. Normally, you could keep them and hope SPY goes back up, hold long term, or immediately dump and accept the small loss. In this case though, it looks like he doesn't have enough money in his account for 100 shares of SPY, so he's going to need to sell it pretty quickly or their broker will do it for them, because they want their 70k they gave to him back.

KMI_Dragon_Knight

No paper hands, just risk tolerance. Do you have a lot of debt and you made this with all your investment money? Then you would have sold much sooner, when you got a 20% through 200% gain, which is decent. 20% is average SPY gain, and that's a good moment to close a good trade. Keep trading and be patient. Do you have a stable office job, but the usual office drone debts of a mortgage, car, and this was just feeler investing money that made no difference? Hold and you can risk losing... until it's life-changing to tackle one of those big grown-adult debts or until you can put a downpayment for a home to stop living in a shit apartment. Probably until t makes it to 300,000-ish. Keep trading and be patient. Do you have a few 10 grands, or thousands of grands, or a few millions? Then you can tolerate swings and make even more millions. Or lose it.

fire_alarmist

So uhhh I missed the close yesterday. Why tf does SPY have like a $15 wick down TWICE on the last two five min bars? Did that actually happen lol??

caseywh

Why do you people trade SPY vs SPX i will NEVER understand.

kylepetrovic

Sell your 100 shares of SPY and you owe the difference. Likely few hundred dollars

ThetaForLife

Right. And is SPY rallies on Monday, OP will be making a killing.

putinhimself2020

Very good explanation and to the point post! Shit happens, and one can accidentally sell instead of buy, especially if one is active with options. I once bought a broken wing butterfly call spread for $1 more than what I planned because I was thinking “puts” instead of “calls”… stupid mistakes, but a lesson learned… So, to my actual comment. Yes, the OP needs to sell SPY shares as soon as they can, and the broker will likely do this as soon as the markets open at market price. So I wonder if the OP has a few hours pre-market to try to sell his shares at the price that he likes (maybe even resulting in a profit?)? I actually do not know if an account is now completely frozen, or if the above is an option, and would love to learn more about how exactly the broker handles situations like this. OP, if you see this, please comment. Who is the broker by the way?

Bojangles315

Series 4 Options Principal here. Some ppl.... if you traded SPX options, those are index options and cash settled based on 100 usd increments with the difference. also European style. since you did an ETF, SPY, delivery requirements are 100 shares a contract of the ETF. Put down the price, meaning, take the strike you sold minus the premium received for your break even. The time cutoff to exercise is 5:30 pm est, whereas if it's itm even 0.01 there is an auto exercise. You sold a 733 put, so you have to buy the shares at 733, but collected a 348 premium, so the real breakevsn price is 729.52. looks like 729 is the current price, so you lost 52 bucks. was that put you sold not covered? without knowing the above, did they really approve you for uncovered options writing?

poopy_wizard132

SPY is like -4% from its ATH.

_O_B_I_

Never fight the trend. Considering we SPY never reached ATH after the signing and trended downward, any news that aligns with the current trend will have an impact.

KevinCubano

The simplest explanation is this: if I want to enter a position (say, SPY), but i think the current price is a little high, I can sell puts on SPY. I get paid money upfront, AND if SPY drops, I’m forced to buy SPY. But I wanted to buy SPY in the first place, right? So I just got paid upfront for the opportunity to buy the stock I wanted to buy in the first place. Massive W.

bro_salad

I’ve been trading 0 DTE SPY options in Fidelity since I had well under $100k

Russticale

Goodmorning happy Saturday.   Caught a good entry this week with some MSOX calls.  Even sagged some trlv n gtbif today.  Things are looking up boys.  Options volatility has perked up a bit, but theres so few people buying leverage in this sector. Im betting on a positive reaction this coming week into July.  We’re gonna be in the news, macro SPY is a tired market.  Cheers to hoping people park their money here and we get an expedited closing to the rescheduling hearing before July 15th🍻🍸🍺

deeeeeebaggery

The gap risk was referenced above, but I think it needs to be repeated. OP was assigned at Friday’s price, but realistically cannot sell at Friday’s price. They may get lucky and SPY gaps up over the weekend, or not. At least, that’s my smooth brain understanding of one of the risks of unintentional options assignment.

MozayeniGames

You need to get another broker. If you didn't have 70K in your cash account to begin with then the trade should not go thru. You have two ways to fix this. 1) You can sell the SPY ETF shares now to immediately get out of the trade. 2) If you find the money, sell the call option at the same strike price as your put option and wait for the price of SPY to go above your strike price at expiration.

ThatOneRedditBro

Most stocks go up at some point, you just have to be disciplined to sell.  I sold palantir from $7 to $160. Put the profits across other stocks and SPY.  Trick is to buy stocks and sell the immense gains to convert into ETFs

curiosity_2020

I had a weird buy on Friday at 3:59 PM. A limit order that's been waiting for a few weeks for SPY at 718 filled, but the lowest reported price I can find for Friday on a public finance site is 726.53. There are times I see odd trades like this on my screen charts but always thought it was a system glitch. Have no idea why it happened but I did get a trade confirmation so it's real.

BagHoldersOfAmerica

What will the rest of the year hold for SPY I wonder...

iwasshotbyatigeronce

There are some tells this week that we are headed lower. SPY alone dropped 2.3% in 9 seconds and eased gamma by cashing out a ton of shorts and filled a ton of long orders. Rug inserted.

KelvinsEdge

I am not surprised you beat the SPY! that seems like a great strategy. Thanks for Sharing 👍

value-no-mics

All of this is fine until Orange has fun at strait and SPY opens at 720

Doctor_FatFinger

I'm too chicken and stay too wide delta with condors to make it worthwhile when I play occasionally on a whim. SPY trades within range far more than it doesn't after all. Been tempted, even to the point of back testing. One would have to stick to a strict unit allotment and be very disciplined, as racking up so many wins would make you scale into a loss wiping out weeks or months of profits in one session. For myself, just doesn't seem worth the work and stress, when backtesting shows it's not crazily better than buying and holding. Maybe if I were retired and my net worth were 4 times as much, it'd be worth my while.

NyCWalker76

OP wouldn't have to worry if SPY opens at 735.

FraggDieb

This happend to me befor because I just forgot to delete my Stop Sell Order. When I trade SPY Options I mostly open two sell orders after buy. One for Stoploss and one for Profit taking. I normally do a OCA Order so when one is triggered, the other gets deleted. Yeah somehow I setup two different orders. My Sell Limit was executed and I took my profit. My Stoploss Sell order was still there and I sold a QQQ Put option. Luckily it closed above and I was able to take the premium. But this is how something like this happens

jmc774

Now do SPY

robomartin

So you haven’t lost 70k, but you are obligated to buy 100 SPY units for 70K, which you can turn around and sell on the open market and get most of your money back if you don’t want them. Problem is you will have to raise those funds to buy the 100 SPY units at that price. So that means liquidating other positions in your account. I would assume you have the means to do that though otherwise the broker’s risk guard rails failed badly. Not sure what happens if you literally can’t deliver. That’s you might have to work out with your discount broker.

anon4crypto

This is why i tend to stick to SPY only

-sakuranbo

We'll be working on the 4th of July to get holiday pay & blow it all on SPY calls the next Monday

_AT198

S&P futures (SPX), 60% is taxed as long term capital gains/ 40% is short term vs Options which is 100% short term capital gains. S&P and SPX are virtually the same, except add a 0 to the price. Overnight gap is the index’s moving while the market is closed. Buy options at the close to trade the next day. Many hedge funds use SPY/QQQ to hedge overnight gap. Good Luck to you.

anon4crypto

Just like all degenerate gamblers here, i started doing options on hype and memes, made big/ lost big, then stumbled on spy late last year. I now trade 90% SPY - but i went heavy after declaring day trader status with IRS last year.

mosacism

# Damn should've just put allat into SPY, and NOT 0dtes 💀💀💀

anon4crypto

All SPY 0DTE https://preview.redd.it/x02hv9fmvr9h1.png?width=1080&format=png&auto=webp&s=7632c8ec84f56a32845e4b4f72ba34eb273315e9

LadderAdmirable

Looks like we have ceasefire again. SPY 740 by Monday on renewed optimism?

RaisinZRH

What if he doesn’t have enough cash to buy those SPY shares?

levelup1by1

don't worry too much. you pay 70k, but you get 100 SPY shares. you can choose to keep or sell

flying_cactus

You dont owe 70K like its some fee you pay your stripper. Youre using it to buy SPY. Youre going to be fine

VinceCheong

Call up or chat up with Moomoo, you definitely have a portfolio enough to cover after margins. See when do you need to repay or get rid of your SPY positions. As of now it’s weekend so business day starts on Monday.

Mrgluer

The war is already priced in. All of this is basically all priced in. They aren't doing anything full scale and its all now for show. Things are winding down. SPY, WTI and else dont give a shit anymore. The supply shock is figured out and most people adapted.

Ok-Belt5652

Looks like 100 shares of SPY were PUT on him!

unhappyreach_

It's much easier to make money when SPY is vertical for 9 weeks

No_Obligation4496

Actually even less. He got like $350 dollars of premiums initially. If SPY moves up just a little bit he might actually make a slightly profit.

Russticale

I took alittle exposure off the table end of day.  Caught a good entry this week with some MSOX calls.  Even sagged some trlv n gtbif today.  Things are looking up boys.  Options volatility has perked up a bit, but theres so few people buying leverage in this sector. Im betting on a positive reaction this coming week into July.  We’re gonna be in the news, macro SPY is a tired market.  Cheers to hoping people park their money here and we get an expedited closing to the rescheduling hearing before July 15th🍻🍸🍺

cappy1223

Hmm Google says that it's actually case dependent. Margin account is considered secured debt with the stocks as the asset. Forced sale and recuperation of liquid cash to apply towards the debt, and the difference is considered unsecured and can be written off in a bankruptcy. So yeah, OP can sell the SPY shares for as much as they can, pay towards the margin debt themselves, and *then* declare bankruptcy on the remaining amount. Doable.

_Clit-Commander_

Not SPX, XSP, its 1/10th the size of SPX and close to SPY price so its SPX for the poor.

Learner_Mentor

I believe SPY option only settle funds not get aligned like traditional stocks.

512165381

> SPY opens higher than $733 on Monday From experience, biggest reason for drop is Trump starting another weekend war.

jfrantz2

You have a margin account. As others have mentioned, you were assigned and are now long 100 shares of SPY. On Monday, your broker will require you to meet the maintenance margin requirement for those shares. If you don’t have enough margin/equity available, the broker will issue a margin call or liquidate the position at the current market price. Regardless, you still keep the credit from selling the put, so it’s too early to say whether this ends up being a gain or loss. It depends on where SPY opens/trades when the shares are sold. You do not simply owe $70k. Your actual P/L is basically: put credit + sale proceeds from the shares - assignment cost So using the numbers here: $348 + $72,899(replace this with where Spy opens Monday morning) - $73,300 = -$53 Some brokers may also charge a small amount of margin interest or fees. TL;DR: You don’t owe the full amount shown. You own 100 shares on margin, and the final gain/loss depends on where SPY trades when the position is closed.

TheRealHotHashBrown

Don’t panic bro. You can sell them (the 100 shares of SPY) when market opens. You might even make a profit is SPY opens green. You sold a put and it was naked because you didn’t have the cash ready in your account. Usually, if you have the cash ready, that would be selling a Cash Secured Put. In your case, the cash wasn’t secure so your broker liquidated other assets when you were assigned. Don’t panic ok. This is manageable. 👍

misterhomebody

I'll be mad too if I was stuck with 100 shares of something as garbage as SPY too.

jiqiren

congratulations, you almost discovered the wheel option strategy. you should have just rolled the option to the next week or month before it was assigned. now you'll have to just sell the 100 shares of SPY you purchased on Monday to put your account back on track.

Bob_the_peasant

Damn people have no sense of humor outside of this thread. I said SPY 760 on Monday after we win the Iran war for the 29th time and people got legitimately hostile at the idea of SPY going up 4.5% in a day.

Emotional_Shape925

I agree with this. But SPX is wild, and the regarded OP ain’t ready for that. That being said, my dumbass has picked the wrong side of SPX trades too many times that I don’t do it anymore. If I play SPY I just make sure I have calendar alerts set 1 week prior to expiry just in case. But I’m usually not in the position too long.

_Clit-Commander_

Or better yet stop being a dumbass and playing 0 DTE SPY that settles in shares and trade XSP which settles in cash only and it’s more tax efficient in the US anyway. Also broker can’t liquidate you 30 minutes prior. Same price point as SPY basically

Soulsetmusic

Depends what you want. The main key is leverage. Your premium (the price you pay for the rights) is going to be a fraction of the money you’re theoretically moving. Like in OPs example, (he’s regarded) but he’s trading 73,300 for 72,900. A $400 loss. Buttttt the option he sold and someone bought was priced at 3.48 (348 dollars to buy it, OP collected 348 in premium for the rights) so OP made 348 dollars to sell a theoretical 73,300 worth of SPY. The buyer paid 348 dollars to buy a theoretical 73,300 worth of SPY (betting on it to go down, on puts they get to buy the shares at the close price so 72,900) the total price difference is $400 on a $300 dollar bet, like 125% the leverage is the draw. But in this case OP lost like $50 bucks and the buyer made like 50 bucks (premium and price difference).  In a classic non gambling way, say I have 100 shares of NVDA. I can sell a call (selling the right to my 100 shares) and say my average is $100. I set a $200 dollar strike. I’ll collect say 5.00 premium ($5 per share, $500 bucks for the contract, always x100) and if the contract expires, I’ll retain my 100 shares + the $500, if it finishes at 201 I’ll collect the $500 premium and sell 100 shares at 200 so 10,500 in return total.  That’s just concept and covered calls and I think I definitely made that more confusing so I’ll wait to get into puts and spreads and such later.  Hope that helped lmao I’m sure it didn’t but it is really simple once you “get” it. 

INFOWARTS

One of two things will happen: 1. The 100 shares will appear in your account sometime between now and Monday morning. When the market opens, you can sell those at whatever SPY is trading at and that will satisfy the margin call. 2. They will deliver these shares and then immediately liquidate them for you, satisfying the margin call. Basically the same as 1, but they force your hand a little stronger. The bigger question is how they let you sell a put with no where near enough collateral to cover assignment. Most brokerages would have canceled that trade the moment you submitted it.

userhwon

ETFs and likely not. The broker should have sold the shares but seems to have zapped his cash balance in the prices. He may own 2k worth of SPY or not.

Genericsky

If SPY went to 0 where would people go to work? It means the top 500 public companies of the US went to 0. What would be the reality of the rest?

userhwon

If his broker liquidated anything other than the SPY shares, his broker is as bad as their name looks.

userhwon

Talk to your broker, not these idiots.  You didn't have funds to cover assignment. When you got assigned, your broker had to lend you their money to cover paying for the shares. Then they most likely liquidated the shares to cover it.  If they liquidated the SPY, then the notification was generated because of the loan and not retracted, and you're probably balanced or maybe a few dollars up or down. If they didn't liquidate the SPY, then you have 100 shares of it now, and you still owe them $73k in margin debt for buying them without having cash or margin (other assets in share form) to cover it. Just sell the shares and the cash from selling will automatically pay the margin debt. If they liquidated your other assets instead of the SPY shares, then fire your broker. What the fuck is a Moomoo Financial anyway? You trust your money with people like that? They robbed you. So don't trust them. Get a real broker, ffs.

JoeFollowsFlow

Iran hit a tanker. USA waited until market close to strike. SPY gapped down the last 45 seconds on the rumor. OP is most likely way more fucked here than people are saying on a weekend gap down.

DisgruntledTexan

Selling SPY puts at ATH with 3 year high inflation, growing unemployment, softness in residential real estate is something special

JoeFollowsFlow

Being assigned 100 shares of SPY on margin minutes before the US launches another attack on Iran. He’ll be lucky to get $700 at open. If OP didnt know what futures were before, he will now lol.

FederalExpressMan

Or if Trump decides to talk to Iran for the 500th time SPY will pump and he gets $1k+ in his pocket for being regarded

sgkubrak

Well done! $816 yesterday on SPY for me. My record too. Be careful my friend, winning is a drug.

ExoStreaM

Kudos, best answer here. OP, you might even be lucky and SPY opens higher than $733 on Monday and you make a small profit. I once had some guy exercise an OTM short put on me. Next day, I basically got margin called because I was assigned $300k of QQQ at $594. Mind you, QQQ ended the day at $597 so that was crazy, I was already $3 in profit. As luck would have it, QQQ opened higher at $601 and I managed to sell for a tidy $2,750 of profit after including the broker’s interest of $300 on the $300k I borrowed. Lesson learnt for me was to play the cash settled options like SPX or XSP. SPY and QQQ were too scary for regards like me.

MaybeICanOneDay

You will get the shares. Just sell them back for a few grand loss. Also, SPY doesn't work like this. SPY is the price of a specific mix of all the companies in it. If it deviates, Large holders will trade in X amount of SPY shares for the individual companies. This is how it remains so close to the actual price of all the companies. The arbitrage is something you can make bits of profit on if youre rich as fuck and have the ability to do this. You can also do it the other way to make new spy shares.

igotherb

You only owe the difference between spy and the strike of your option multiplied by 100. So (733-current SPY price) x 100= what you owe

Ninjascubarex

I had to have ChatGPT explain the situation with more concrete language for me.  Imagine you make this agreement: "I promise that if someone wants to sell me 100 shares of SPY, I'll pay them $733 per share, no matter what the market price is." For making that promise, they pay you $348 immediately. A few days later, SPY is trading for $729. The other person says, "I want to use our agreement." Now you're required to buy: 100 shares × $733 = $73,300 Your brokerage buys those 100 shares for you at the agreed price. That's why your account suddenly shows you owe $73,300.  It's because you just bought $73,300 worth of stock. But those shares didn't disappear. You now own 100 shares of SPY. Since SPY is only worth $729 per share, those 100 shares are worth: 100 × $729 = $72,900 If you immediately sell them at the current market price, you receive $72,900. Here's the math: You paid: $73,300 You sold them for: $72,900 Loss on the shares: $400 Money you were paid for making the promise: +$348 Final result: -$400 + $348 = -$52 So when people say, "He owes $73,300," it sounds catastrophic, but it's similar to buying a house with a mortgage.  You owe a large amount because you just purchased an asset.  Since you also own the asset, your actual gain or loss is based on the difference between what you paid and what it's currently worth, not the full purchase price.

hobopwnzor

Yeah it's pretty weird that they would let you sell a naked put.  You should probably get level four options taken off your account if you don't know what you're doing.  Still my comment stands that your total loss is pretty low. You'll just need to call them and they will find a way to settle it on the back end and you'll pay the difference. Which won't be that much as long as SPY doesn't immediately drop by a massive amount

Bob_the_peasant

You buy back a SPY put so you weren’t short anymore, up to 15 minutes after market close. The broker selling it early has nothing to do with it other than they knew he didn’t have the cash

Infinite-Broccoli535

731 to 760 on the 29th. why dont you guess SPY 800 by the 29th then

holdingupcardboard

VOO/SPY have been meme stocks for a while now. A massive portion of the us population are permabull without even knowing it due to retirement accounts. And plenty others buy it in their taxable account at every opportunity and refuse to buy anything else.

FundamentalEnt

Yeah honestly they are freaking out but come open Monday they will probably see huge returns. Today SPY walked back a couple days and you know they hate that. They are gonna drum something up Sunday night/Monday morning and homeboy is gonna be rich comparatively. Idk enough to know if they can hold till then but if so 100 SPY is gonna be fine of all the things we see here. Light bag to hold.

Toohotz

You’re failing to grasp he bought SPY and not a cash settlement derivative such as SPX. You get auto exercised before the actual close of market if the option is ITM as it was the case here. If he sold naked then that is a problem as the broker is asking for the 70k deposit to buy the 100 shares of SPY. Your comment also about how “he could’ve closed for a thousand bucks or whatever”. This made me realize you have know idea wtf you’re talking about as he sold the put and collected the premium. How TF would he make additional money on the capped upside you bot, it isn’t a long position it’s a short. You’re not apart of the “1% of this sub” and it shows.

OhBenjaminFranklin

If the put you sold was exercised (which it was), then you now own 100 shares of SPY. It's automatic, so you should check your account positions page again.

SnowballWasRight

I don’t do options but does that not mean you have 100 SPY shares now lmao? Just sell them

Sufficient_Sport5251

Bro probably bought on the spike up. SPY stopped trading in the after market window at 732.11 $0.89 away from net nothing

Rich-Advertising-230

Just breathe. You’ll be fine. You’ll likely end up losing a few hundred bucks. You got exercised and had to buy 100 shares of SPY. The outstanding balance shows the cost for purchasing the 100 shares. Now that you have the shares, you can sell them on Monday. Depending on what happens over the weekend, you could honestly end up green if we gap up. It’s a big scary number but you’ll be alright

spacklock

I’m noticing a lot of the big profits coming from SPY trades. (also from DRAM and MU) I want to try, but every single SPY call or put is so expensive! But I guess its true, scared money don’t make money! I just started two weeks ago, so far my biggest return was $142 from a $0.23 call. Like clockwork every time I sell a call/put, it goes up not even 5 min later. Any tips you could share with me that you learned along the way to now?

Bob_the_peasant

I think less than 1% of this sub actually knows how options work. He could have closed this out near or even a few minutes after close for a thousand bucks or whatever Now he has to buy 100 shares of SPY at that strike…. He can sell them on Monday for nearly full value or hell, probably make a profit flipping the shares when it runs back up to 760 on the 29th victory over Iran. Maybe he doesn’t have the cash to buy make good on his contract to buy 73k of spy. In which case I dunno, “do it like we did WEN” becomes more of the “do it like we did behind the dumpsters at WEN”

az000l26

It was a 0dte put option that expired on thursday and I don't see any 100 shares of SPY on my account. I will call this fucking broker tomorrow.

Hiding_in_the_Shower

If SPY goes to 0$ we’re all fucked

DOGMASCHINE

if SPY goes to zero we’re *ALL* fucked

hobopwnzor

You're obligated to give them 100 shares and they will give you 100x whatever the strike price is for the shares. So you aren't in debt 73k. The value of the contract at expiration is just 100x(Stock Price - Strike price). Looks like SPY is 728.99 right now, so you actually only owe $401 to settle the difference.

haleakala420

sell the SPY shares and pay them back asap

type_your_name_here

You know he's going to be fine. He's just required to own 100 shares of SPY because he sold a put contract which exercised. A put is an option to sell something, and since he sold an option to sell, he has to buy it, but it's not like he's out 70K - it's just the additional amount he needs to deposit to cover the cost of buying 100 SPY at the strike price, but he will end up with 100 SPY stock that he can just sell for a few hundred dollar loss.

Sufficient_Sport5251

Considering after hours SPY closed at 732.11 and it was a 733 put. OP might be out less than $100. Considering OP is using RH, he def had the capital to cover losses, so he will just be out whatever the gap between after hours close and pre market open. If I am remembering correctly. Dude is out $500 max unless the market gives out.

az000l26

I dont see 100 shares of SPY bro, it was 0dte contract that expired on thursday. I need to call this fucking broker.

Capable_Wait09

Just sell the shares back. Now you own 100 shares of SPY but you only covered like $3k of the $73k you owed so still owe $70k. So just sell the shares back when the market opens. Or call the brokerage and tell them it was a woopsy and they might just undo it for you.

Bad_Badger_DGAF

Well, congratulations, you now own 100 shares of SPY. Sell em as soon as you can. Looks like you'll take a bit of loss, after counting your premium. Not too expensive of a lesson. But enough to put the fear of God in you for a while. Also, don't use a shitty broker, switch to Schwab or Fidelity at the least.

rhuffq

This reminds me of the guy that did options on Robinhood and he thought he owed hundreds of thousands and decided the best course of action was to delete himself. Seriously if the OP was going to make this kind of screw up SPY is the best thing to do it with.

az000l26

It was a 0dte put option and as far as I know there isn't a 100 SPY contract on my account. I also only have 2000 USD cash account so I didnt know what happened.

HDauthentic

Congrats on your 100 shares of SPY

TheeWalrusOverlord

SPY to 0 on Monday!

Jason_Steakcum

This was a 0 DTE 733 put option for YESTERDAY 260625 and SPY closed between 734 and 735 so congrats the put you sold expired worthless. Idk how youd be assigned but if so worst case you’re only looking at a couple hundred loss worst case since it’s spy, not SPX