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mpc220: Trade Notes

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Trade

Sold Short 100 shares of C at 25.00

posted 03/24/08 04:19 PM (Note posted about 13 hours after the trade) | Viewed 204 times
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Transaction: Sold Short
Symbol: C
Quantity: 100 shares
Price: $25.00
Value: $2,500.00
Stop Order: No @ $N/A
Target Price: $0.00
This was an accidental trade!  I forgot to close out one of my C puts before the Good Friday holiday.  This mistake cost me money. 

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1 user tagged it: C, stock, short
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snowman

Member since: Mar 07
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Age: 40's
Pittsford , NY UNITED STATES
snowman
Posted March 24, 2008 (05:14PM)
Could not find where C traded at $25.00 today. So I do understand how you could of sold short at that price? Do you know how that happened? Almost bought puts today. Feel it will go up tomorrow so I am waiting.
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mpc220

Member since: Dec 07
5 Day -5.25%
15 Day -6.85%
1 Month 44.06%
3 Month 360.23%
6 Month 235.48%
As of: 11/21/08
Trades 197
Trade Notes 42
Blog Posts 5
mpc220
Posted March 24, 2008 (07:22PM)
What happened was, I owned 1 $25.00 C put that expired on Friday.  TradeKing automatically exercised the put so that it would not expire worthless.  Because I didn't own any of the underlying, it just had me sell short. 
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snowman

Member since: Mar 07
5 Day 14.92%
15 Day 21.66%
1 Month -16.92%
3 Month 646.79%
6 Month 231.32%
As of: 11/21/08
Trades 534
Trade Notes 172
Blog Posts 95
Construction Union
Age: 40's
Pittsford , NY UNITED STATES
snowman
Posted March 25, 2008 (01:28AM)

Thanks, had me confused, watch out my gut feeling tells me we go higher tomorrow. How high depends on how much the shorts are willing to lose.

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