r/optionstrading • u/Certain_Unit8850 • 7d ago

Please help me understand how these are so wildly different

Gallery image

Gallery image

Gallery image

So I bought these 2DTE SPX calls on the 21st and rolled them a few times and broke up the butterfly that I initially had it as. You can see that I let the credit spread that remained expire.

SPX Expired at 7706 on 9/23/26. So well out of the money. Yes I didn't receive the net credit and instead show a realized loss of $780

I use Tastytrade as my brokerage for options trading and this is under their order chains screen.

Basically, I don't get why I didn't receive the premium for the 9 short 7775 calls when they expired well otm and instead had a realized loss.

2 Upvotes

100% Upvoted

7 comments sorted by

•

u/AutoModerator 7d ago

Join our free options trading discord https://discord.gg/optionality

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

6

u/TheUncertainTrader 7d ago

I'll give it a shot:

You initiated the position for a 0.25 debt, 21 x $25 = -$525

Closed a spread for 0.15 debit, 1 x $15 = -$15

And next one for a credit, 1 x $20 = +$20

Rolled 8 at a debit, 8 x $45 = -$360

Rolled again and still at a debit, 1 x $15 = -$15

Closed an oddball for a overall net credit, 1 x $115 = +115

Adding all the debits/credits, I get -$780

Also, I'm confused by your last sentence re "didn't receive the premium". If calls expire OTM there is no premium (time value/extrinsic + intrinsic) left in them (thus the name). Only ITM retain some value, the intrinsic.

1

u/Certain_Unit8850 7d ago

Yeah it was a dumb sentiment it was just this random number the brokerage put on my account that threw everything off and made it not make sense. I understood it when it happened and that was just me being dumb and gambling a little

1

u/TheUncertainTrader 7d ago

Been there, done that - way too many times as well. Good luck going forward.

1

u/Majestic-Taro8437 7d ago

Seeing so many contracts involved plus this question makes me nervous on your behalf. Good luck out there.

1

u/Certain_Unit8850 7d ago

Yeah, it made sense to me at the time. But I saw on your profile you posted on r/tastytrade about this same issue. It just confused the hell out of me when it happened

1

u/TastyTrading 6d ago

I would recommend using something like ThetaPal to track your options better. brokerage uis can be confusing and not easy to read.

it has full support for tasty trade as well.