akito

Yup. I also received the same thing and I've sent them an email asking for clarification. Most likely an error on their part.

Not sure if my understanding is complete, but I think you can still be marked as a pattern day trader if you're over $25,000. However, you should still be able to freely trade with no issues. It would just be a status mark on your account. When I was last marked as PDT, I was also over $25,000, but didn't see any practical issues with trading. So I'm not sure why you weren't able to open new positions, @trader212. That's bizarre. Did they give any reasoning behind their restrictions on your account? Also, when did this happen?

@Anderson317 1. For spreads, Tradier treats each option leg separately for their PDT logic and calculation. If you had 2 separate calendar trades that were open and closed on the same day, that would be 2 legs on the first calendar and then 2 legs on the second calendar. So 4 "trades" in one day regardless of how your option legs were setup in spreads. So your guess as to how this happened is right on the mark. This is also what I learned from asking Tradier directly. 2. To remove the PDT status, just email them and ask them to remove it. Simple as that. You can do it once every 90 days. I know because that is what they said and exactly what I did. (I've removed it once so far) 3. To avoid PDT status, don't open and close more than 4 options in a single day. Remember to count each option leg separately in your spreads. -Note that the actual number of option contracts would not matter. (as least that is my understanding) For example, if you had a calendar position with 42 of the short leg and 42 of the long leg, and you opened and closed it on the same day, that should be 2 day "trades". For future questions, try asking Tradier directly, they're pretty quick with responses and not bad with their customer service. (Unless you're asking for opinions on steadyoptions. If so, then feel free to ask away. I'm always up for discussion.) EDIT: Regarding your message about options expiring today, you should ask Tradier directly as such a message makes no sense at all for today, a Tuesday.

When someone has a chance, please check to see if their mobile app has multi-legged option support now or not. Last I checked a couple months ago with their support team, their mobile app did NOT support multi-legged option orders.

FYI, for Firsttrade, I had previously inquired with their support staff about the mobile capabilities of their platform and unless things have changed, their mobile app does NOT support multi-leg option orders. Neither does their mobile web interface. So you would have to either use "desktop" mode on your mobile browser and constantly pan and zoom around or just use their website on a desktop i.e. multi-option orders on mobile is not a good experience. I have not heard of Hrtrader before and while what they offer sounds interesting, I do not see any reviews of them online at all, which seems a little strange...

Just a heads up. If you would like others to double check your math, you need to post your opening price as well. All I see here is your closing price.

I'm a little confused. You're saying that you made at least $124,500 this October? 100 * $1245 (the discounted yearly SO fee) = $124,500. That's a big jump from your "first ever strangle" you opened last Thursday and closed last Monday (only 3 days ago). (which is already basically the end of the month) https://steadyoptions.com/forums/forum/topic/4893-nov-9-qqq-strangle/ Your post says you bought 10 QQQ strangles with the " Nov 09 '18 $172.50 " call for -3.18 debit and the " Nov 09 '18 $167.50 " for -3.15 debit on Thursday, Oct 25. You then say you closed your put for 5.25 credit last Friday, Oct 26, and closed your call last Monday, Oct 29 for 2.25 (this one is seen in the screenshot above). That is only a $1170 profit from that "first ever strangle". So you're saying with this additional AMZN strangle, you've gone from $1170 of profits to $124500 of profits? only in the course of a few days? Again, I am genuinely curious about the numbers here.

The performance page seems to be missing the GS trade, which is already closed.

Yes it absolutely will. In your example, you said the short call was assigned and you exercised your long call to cover ($10.00 loss since width is $10). That already basically wipes out your $10 credit so there is basically no credit left "in hand" to cover the risk of the put spread when this bubble pops and breaches your put spread.

TLRY is clearly exhibiting bubble behavior and it may pop before expiration, which might endanger your put credit spread and cause additional losses.

@allan Adding on to Yowster's reply, there is also the following out of the ordinary things to add onto the cost of closing in that example: -the cost to carry the short stock after assignment (clipsnation said he paid around $5000 for holding 3200 shares for one day, so let's say that is $156.25 for 100 shares) -assignment + exercise fees -any over the phone broker assisted trade fees (if it becomes necessary)

No need to apologize, lol

I see, no worries. My comment didn't say I was concerned about assignment on those two stocks. All I said was that I was starting to get concerned about them. If you're unsure of something, please feel free to simply ask for confirmation or something. Taking assumptions as fact without any hint of doubt in situations where there should be doubt because information is lacking can often hit the wrong nerves.

My sentence was "assignment chaos you're going through" with "you" being clipsnation as my comment was directed towards him/her. This means I was referring to the assignment chaos clipsnation is going through with the TLRY position. It can in no way be seen as referencing back to the MCD trade. The sentence I wrote also doesn't suggest that the situation between MCD and TLRY positions are similar.

Wow, that is really scary. So apparently that $50 dollar bill on the ground was actually a ticking landmine in disguise. I hope you get through this. I'm already starting to sweat a bit from the GS and MCD trades (my allocations are even smaller than the official half allocations, but still) so I can't even imagine going through all that assignment chaos you're going through.

You were assigned this early already? What happened?

One of the conditions I had in my wild scenario was difficulty in closing, so painting a worst case scenario where the puts would not close and you would have to wait until expiration, but the stock plummets before then causing the short put to be assigned. Hm, so this worst case scenario might indeed be possible (albeit, as you have stated that this likelihood is very low), but still existent.

Ah, yes, I also think the put side may be at a lower risk of assignment, but regarding the premium covering, going back to the wild scenario I mentioned that both sides might be breached, wouldn't the premium, let's say $10.50, for example, only cover one side? So $10.50 (premium received) - $10.00 (max loss on call side) - $10.00 (max loss on put side) ~= -$9.50? So if the stock moves like crazy and exihibits extreme bubble behavior and causes both sides to be breached, wouldn't this trade actually not be risk-free? Unless I'm still missing something.

Is the following scenario possible? (Since TLRY is so incredibly eager to move and closing may be difficult) (Just a tiny worry in the back of my head) Say it rockets up and the short call is so ITM and low on time value that it gets assigned (before expiration). Best probable course of action would be to buy to cover the shares and then sell to close the long call. However, say it continues to rocket up beyond what my account size can buy to cover shares, so I am forced to exercise my long call to cover the shares and take the max loss on the call side. Afterwards, say the bubble pops and the stock plummets violently way back down so that the remaining short put is so ITM and low on time value that it gets assigned. I would then have to sell to cover the shares + sell to close long put (near max loss on put side) or exercise the long put to cover (max loss on put side). Would I be looking at almost double the max loss of the iron condor? (If I am missing something, please let me know) I know that the usual premise of an iron condor is that if one side is breached and compromised, the other side will be fine, but I am curious if the extreme movement of this stock may cause both sides to be compromised before expiration.

Wow... this seems too good to be true. (but obviously not since people are getting real fills) Please keep us updated on this trade if anything happens. Eager to see how it develops.

Yes, it's definitely a little more difficult with Tradier when compared with TastyWorks on the phone, but I've made it work.

Funnily enough, I do all my trading on my phone =) EDIT: (I meant "trading" in the sense of managing positions and putting in orders. Supplemental stuff like looking at news, RV graphs, and steadyoptions happen on my work desktop)

Their mobile platform is very good for the most part. When the app first came out, there were bugs everywhere. As time went on, those bugs have been fixed, but quality control still remained (and probably still is) an issue. It's almost like they don't really test out their updates before releasing them. The app has been pretty stable for the past half year now, so maybe they've refined their process now, but I'm still a bit leery. Although I no longer use Tastyworks (using Tradier currently), I still use the TastyWorks app to look at prices and stuff. It's great that they have both curve and table view.

Just got a response from support saying that it's just a display issue and orders would be submitted with the limit price. Just tested and they are right. Still, I like using the preview function to double check my orders. Hopefully they get it fixed soon. (BTW, I was talking about the web interface)

Anyone having issues with limit orders on Multi-leg orders on Tradier? I just noticed that no matter what price I put in for a "net debit" order, the "order cost" after I click on preview is just the ask price... I've sent an email off to support.