You wanna hear some ****** up **** I could've avoided by signing into ETrade today?
I had $538 in my account, wanted to grind out small gains with weeklies and gradually size up with success by compounding my account/gains. You don't need a ton of cash to day trade weeklies, and I liked the challenge of building nothing into something.
Yesterday at 3:50, AMZN was down to like 475.90, I wanted to get long for earnings via a call fly 515-525-535. I bid .45 for a 1 lot. Never got filled. For the next 10 minutes AMZN did nothing but pop over 480 before the close. I never got filled so at 3:58 AMZN was around 480 or higher, I shut down my account since TOS marked .90 and ETrade showed .70 by 1.05. Not getting filled, didn't feel like canceling my order, pointless since AMZN was popping, right?
So today, I decided to take the day off, it's Friday, I didn't want to trade, I had an ok week, didn't want to force anything. I never open my ETrade account. 15 minutes ago I get a phone call from etrade alerting me that i've been assigned stock. i flip out, assigned stock for what, i never got filled? the douchebag tells me they filled me at 3:59:30. i yelled at him and said how is that possible. douchebag tells me its 5 dollars per share that i owe on assignment. they bought me 100 shares of amazon at 530 to offset the short call that i got assigned on. so now my account will be wiped out on monday as a result of me not opening my account because logic says why would i get filled at the close when the stock popped 4 bucks from when i tried to get filled and it marked higher than my bid.
this was all avoidable. i could've cancelled my order, i could've logged into my account today and saw i got filled. but worst of all, if i logged in, i would've been able to manage the position and close it out for a 3 or 4 dollar gain instead of being assigned stock n losing it all.
lesson here is, don't leave resting bids, and always, always, always open your account when you have options expiring and be aware of potential assignment. this was avoidable and it was my fault, but it's frustrating nonethless, more so because i would've made money. losing 538 bucks isn't the end of the world for me, I've lost a disgusting amount in my trading career, but it sucks since i wanted to start on clean footing and do things right this time around. but i have no one to blame about myself. so learn from my mistake and avoid it if you trade options.