jacobdalegrieh
Recruit
- Messages
- 1
Afternoon all,
Now let’s begin with this short story.
I’m not trading much and Oil is looking like a straddle so I have regretfully for the first time ever opened a Put and call at the strike rate of 12.5 with Plus500. I was short of having 50 call options to match my 200 Put options, but that doesn’t really matter.
With this being a straddle I was not expecting to be in a loss other than for the fees inbetween and providing the price of Oil drastically changes I should be in profit, which is exactly what happened other than the latter laughably.
So long story short when I put my options in oil was approximately $12.9 and the price had quickly dropped to $12.18 - This should be looking great for my Put at 12.5 now. The buy price is at 6.8 at one point but I can only sell my options at 3.5? Before being stopped out on margin call slightly lower than this?! How does that make any sense. I understand floating/dynamic spreads but when it’s gone from 0.15 to 3 whole points on the spread that’s crazy, I have essentially lost money for predicting the right direction?
I have emailed Plus500 about this, but I have come to you guys to see if I even have a leg to stand on (I feel like I certainly should)
Thanks for any advice in advance,
Jake
Now let’s begin with this short story.
I’m not trading much and Oil is looking like a straddle so I have regretfully for the first time ever opened a Put and call at the strike rate of 12.5 with Plus500. I was short of having 50 call options to match my 200 Put options, but that doesn’t really matter.
With this being a straddle I was not expecting to be in a loss other than for the fees inbetween and providing the price of Oil drastically changes I should be in profit, which is exactly what happened other than the latter laughably.
So long story short when I put my options in oil was approximately $12.9 and the price had quickly dropped to $12.18 - This should be looking great for my Put at 12.5 now. The buy price is at 6.8 at one point but I can only sell my options at 3.5? Before being stopped out on margin call slightly lower than this?! How does that make any sense. I understand floating/dynamic spreads but when it’s gone from 0.15 to 3 whole points on the spread that’s crazy, I have essentially lost money for predicting the right direction?
I have emailed Plus500 about this, but I have come to you guys to see if I even have a leg to stand on (I feel like I certainly should)
Thanks for any advice in advance,
Jake
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