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soflahokie

Joined: 07/30/2012 Posts: 9213
Likes: 6880

What's this?

If he forgot to hedge then yes, but I don't believe he was shorting


There's an article out that says he was hedging options to minimize his losses. Even if he forgot to buy an option to limit his downside, he could probably rectify it in short order with margin after the fact and turn that loss to something manageable (apparently Robinhood gives that out freely).

If he indeed was shorting, he must've been shorting the worlds most speculative stock.

(In response to this post by MP4VT2004)

Posted: 06/19/2020 at 1:01PM


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Current Thread:
 
  Guy commits suicide after seeing false negative 730k balance in trading app -- HokieDan95 06/19/2020 11:15AM
  Something else going on. There's more to this story ** -- typed by ben 06/19/2020 1:58PM
  Might just have been the straw the broke the camel's back ** -- HokieDan95 06/19/2020 2:01PM
  Yeah this didn't help, you don't throw yourself in front of a train -- typed by ben 06/19/2020 2:15PM
  Don't speculate. -- vtbones 06/19/2020 2:31PM
  Agitprop by Thinkorswim ** -- typed by ben 06/19/2020 2:35PM
  "it's ProPogaNdA". -- vtbones 06/19/2020 2:57PM
  Darwin strikes again ** -- fordham 06/19/2020 12:42PM
  Hard to believe a 20 year old didn't realize that was impossible -- soflahokie 06/19/2020 11:42AM
  Unfortunate but the guy had no idea what he was doing ** -- Technocrat 06/19/2020 11:29AM
  Robinhood is not really used for investing, but "betting" on stocks ** -- HokieForever 06/19/2020 11:28AM
  How do you get a negative balance on investments, though?? -- Nova Hokie 95 06/19/2020 11:21AM
  He was probably short selling. ** -- RoswellGAHokie 06/19/2020 11:30AM
  You can if you're trading on margin. ** -- Hokie360 06/19/2020 11:25AM
  My question as well ** -- HokieDan95 06/19/2020 11:24AM
  Not when you trade options on margin. ** -- vtbones 06/19/2020 11:24AM
  Wouldn't that mean he had over $730,000 to begin with?.. -- Hubman 06/19/2020 11:27AM
  Margin is borrowing money. And no I don't think you do. -- vtbones 06/19/2020 11:35AM
  You are probably right, he wasn't options trading -- HokieForever 06/19/2020 11:32AM
  No he was ** -- Synaesthesia 06/19/2020 11:39AM
  Wow, looks like he was -- Nova Hokie 95 06/19/2020 11:36AM
  Wow, interesting ** -- HokieForever 06/19/2020 11:46AM
  A 20 year old with limited investing experience -- GreenvilleVT 06/19/2020 11:52AM
  ^^^ This options and margin trading, check out wallstreetbets on reddit** -- HokieForever 06/19/2020 11:26AM
  I would have called customer service first, but that's just me..... ** -- Hubman 06/19/2020 11:20AM
  ...it’s only money ** -- chumley 06/19/2020 11:30AM
  Talk about jumping to conclusions and not investigating. So sad. ** -- coshokie 06/19/2020 11:20AM

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