ANONS PLEASE FUCKING HELP

Can someone answer this

They'll automatically get exercised an hour before expiration for whatever they are worth.

OP you’re overexposed here... if you don’t sell with a net gain you could be owing whoever you purchased this call from a lot of money

Congrats, if the stock goes down you could potentially owe robinhood an endless amount of money (hundreds of thousands of dollars). You had to know this signing up for options on the app you retard, they warn you. good luck faggot

And the profit/loss is automatically realized to your account?

just buy a put opposing to balance it out

you will be even money

What the fuck????
How do I cancel it please tell me. OI'm fucking scared as hell please help

Can I just do this??

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lmfao, good thing your calls are worthless, otherwise you'd be fucked

It's an option to sell something by that date at listed price, did you fucking graduate high-school?

Wait did you all lie to me??

Robinhood just said this
"What are the risks?

Once you buy an option, its value goes up and down with the value of the underlying stock. If the stock’s value doesn’t go up enough, your call may expire worthless. However, you’ll never lose more than the price you paid to buy the call."

They said I can't lose more than I paid for? Why are you all saying I could owe a lot of money

"What are the risks?

Once you buy an option, its value goes up and down with the value of the underlying stock. If the stock’s value doesn’t go up enough, your call may expire worthless. However, you’ll never lose more than the price you paid to buy the call."

I just read their FAQ and it says you can't lose money more than I paid for (16$) on an option

Alright since it's pretty complicated to go into every detail about how options work, I'll break it down simple and give you my suggestion.

A call is essentially a bet that stonk will go up, (put is stonk go down) thing is about options is that every day you hold it it'll begin to lose it's value (theta aka time decay) - so say the stock hit 7 bucks tomorrow (it won't) you'd make a 375% profit.

now say you wait another day and it stays at 7 bucks, now it's 350%, etc. weekends count so keep that in mind.

You bought a option that expires next week so unless it goes up pretty quickly it'll start to lose value a lot more rapidly if something big doesn't happen (volatility).

My suggestion to you, based on fits performance would be to go to where it says you can sell the option, click the little three dots, and click on "Stop Limit Order" - this'll let you automatically sell off the contracts if they go below a certain point. Set the stop price to something like $0.03 and limit to $0.02 just so you don't lose everything.

Monitor what happens during the day, most I'd say you might make is maybe twenty bucks if another spike happens like today but likely it'll go back down to the 6.45~48 area.

I wouldn't recommend holding it through the weekend though, fit is a really stagnant stock right now and is basically just being pumped and dumped constantly.

Also ignore the dorks, the most you can lose is everything.. so sixteen bucks. I'll type a lil more since I can tell your nervous.

No you can and WILL potentially lose a lot of money. You're looking at anywhere between $100,000-$500,000 of debt to pay off that option. Better hope it hits $7 by 5/22 retard.

user please please please help me out. What do I do right? Please mate I'm begging you

I'm sorry I did this but I really want to get out

This is correct. Other anons in this thread really need to learn basic finance skills

Yep. I'd highly suggest to not wait until expiry unless your like 80% down or something - theta will eat up all your money.

I don't have that money

I need to spend it on my children and their food and school supplies. Please help me get rid of this. I heard stories of this happening please

Did robinhood lie then in what they wrote above?? Please help me get out of this. What do I do to get rid of it? People are telling me I will have six figures in debt

The most you can lose is everything, so sixteen dollars. Read my above post.

You believe Robinhood, the company that literally sells your buy/sell data to the bigger fish so they have an edge? Of course they lied... the whole reason they made that app is to create an army of debt slaves

Oh my goodness thank you so much

I am so happy every day that god has created good people like you. I saw a youtube video once of some kid who lost thousands in debt because of tesla. Thank you so much

......
are we going to tell him?

the guys from robin hood are going to be on their way to give you some cement shoes user.

>When you short a stock, you expose yourself to a potentially large financial risk. In some cases, when investors and traders see that a stock has a large short interest, meaning a big percentage of its available shares have been shorted by speculators, they attempt to drive up the stock price. This can force the speculators with short positions to "cover," or buy back the shares before the price goes too high, and this exerts a certain amount of control over the stock price before a large amount of speculation causes huge losses.

If you want to sell stock short, do not assume you'll always be able to repurchase it whenever you want, at a price you want. The market for a given stock has to be there. If no one is selling the stock, or there are many buyers, including panic buyers, caused by other short sellers attempting to close out their positions as they lose more and more money, you may be in a position to incur serious losses. You could also wake up to an announcement that a company's getting acquired for a 40% premium over its current stock price including a special $10 per share dividend, for example, which means short sellers are instantly impacted and may have serious losses.

a call is basically just shorting but with options

You’re not from around here are you?
Why don’t you skitter back off to Facebook,where you belong.

IRS is coming for you, OP. You can't trade options without the minimum margin req

tell me what? you all are obviously lying I am sorry its just I dont want to look like a fool in front of my boss asking in linkedin

That's not even the funniest part, he literally is going to lose so much, I really hope this is a shit post or he inspected element on the page. No way someone fucked up this bad.

the only way he is going to be able to fix this gigantic fucking mess

Holy shit I forgot about this. How did OP even get around the min req??? He is so fucked lmao

One last question - so you said monitor what happens. So I sell it at market price the second it hits an attractive price?

yikes lmao, forgot about that. $100k-500k tax bill or federal pound me in the ass prison

Ok now this is larp as fuck. You blew it with the kids and linkenden thing.

To everyone that gave genuine advise: Get the fuck out of here. This isn't retarddit.

You’re fucking retarded and if your wife hasn’t already left you, she will soon
Gambling your life savings like that is a terrible thing to do.

Play around with this tool, it gives you a basic idea of how much you can earn/lose on an options play. optionsprofitcalculator.com/

Like I said they are just messing with you, the only way to lose thousands is either you bet that much to begin with or are using margin (which you aren't using)

Also one more thing to keep in mind in case you decide to do anymore trading tomorrow is you can only day-trade three times a business week (5 days). day-trading as it sounds is when you buy and sell on the same day, if you do it more then three times you'll be unable to buy or sell anything same day for 90 days. go to your account to check that.

You're about to get Guh'd. Ever see -$100,000 in ur Robinhood? You'll have to work for them or something to pay that shit off. Good luck selling at the inquired price range zone

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HOLY SHIT OP I CAN'T BELIEVE YOU DID THIS

YOU ARE SO FUCKED DUDE WHY DID YOU DO THIS LMAAAO

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Thanks so much - any other useful tools like that? Any courses to learn investing etc? All I know is buy low and sell high

Oh fuck

Yeah, I'd set a limit sell at like 0.05. The stock will likely go down or stay stagnant tomorrow since like I said, the stock is constantly being pumped and dumped and right now it's been pumped (but it may go a little higher before the dump, maybe.)

I'd say just take the newbie L and lose like eight bucks.

Don't listen to he's fucking with you, you need to take care of your account for the love of God don't let that expire. Genuinely trying to help on the off chance this is real.

okay how do I sell it quickly? What should I set stop price and limit price to

I just am about to do this

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buy puts

you need to buy a put on top of that. if it expires you are going to buy 100 shares of FIT and get in debt with the brokerage

youtube.com/watch?v=vvAND3hDRwc is a nice beginner video.

One really important thing I forgot to tell you, and this is extremely important, is that say for an example you buy a single call option and it's priced at $1.00 - that's actually $100.00. Every contract is multiplied by a hundred.

puts idiot

Kek, OP, I believe you so I'll go right out and tell you to only trust this user in the thread. Everyone else is fucking with you.

What you're thinking about is longs and shorts, not calls and puts. With the former you can get fucked really hard with deb, but you have to be a big millionaire boy to play longs and shorts. Nobody will give a joe shmoe credit for these financial games.

You're fine. You'll lose maybe $16.

You can't sell afterhours, the market is open between 9:30am est ~ 4pm est monday to friday. Any order placed before or after those times is executed when the market opens or closes.

Why are people pretending this isn't a larp lmao

Stop trying to scam this guy bruh. He has kids and a wife. Don't listen to this user

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I'm fucking on ground man. I'm dying