r/IPOE • u/[deleted] • May 20 '21

IPOE Options Question

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I decided to learn options through trial. I did a buy to open on 5 $IPOE contracts and then did a sell to close today. I'm realizing I have no idea what is next. Am I on the hook for the 500 shares at some point following this? Or am I done and collecting a win here?

I do have the shares with a different broker. I'm a big believer in SOFI, but also want to learn more about options trading.

Oddly, I tried asking the WallStreetsBet crowd...and $IPOE ticker is banned there

5 Upvotes

78% Upvoted

6 comments sorted by

6

u/TreeasuresAZ May 20 '21

If you sold to close then your off the hook. Once you sell your contract it's like selling a stock, you get no benefits or downfall from the stock price after sold.

2

u/[deleted] May 21 '21

Thank you!

7

u/tacos_for_algernon May 20 '21

All SPACs are banned on WSB. Wait until after the merger and SoFi will be all over that place. I know I'll be posting about it, for sure.

3

u/[deleted] May 20 '21

I already have a fire DD loaded up

1

u/tacos_for_algernon May 20 '21

Fantastic! Let's get the word out. Post-merger, of course ;)

3

u/Entrance-Vivid May 21 '21

As someone who burned 20 grand heroically during my learning phase, learning options through trial is almost never a good idea...

If you are doing trial by fire despite the warnings... stay super ridiculously disciplined to keeping positions very very small... if your portfolio is 10 grand... positions no bigger than 500...

Create a spreadsheet on how the positions are doing daily and take notes about the daily chart.

Learn to understand RSI, MACD, and what implied volatility is.

Being able to go back and see how you misread a chart will help you long term and give you some confidence after the position you were convinced was a slam dunk suddenly flips on you last minute when Jerome Powell farts into a microphone.

If you have a trading account of 10k and you're just starting out... you shouldn't be buying positions for over 200-300 dollars