Nov '24 Profit/ Loss sharing #3
My first reverse stock split experience!
I bought this inversed ETF as a sort of insurance against a market crash and to practice option trading. When the price approached $6+ (bought it at $7+), a 5-to-1 reverse split happened. My active covered call contract vanished, and I no longer have 100 stocks to option trade.
Well, let's wait.
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A casual investor from MY, learning about the world of equity investment and setting up my retirement portfolio.
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All Also Taken : This makes no sense, it wouldn't be 30+ now if there wasn't a 1-5 split, why would you sell a call below market price?
CNNT OP All Also Taken : I was selling calls above the market price when i had 100 shares. This split happened in the middle of it.... now I have 20 shares.
All Also Taken CNNT OP : I see.. but don't you still have your call? you should still have a call option for 20 shares at 5x the strike price no?
CNNT OP All Also Taken : No, it just disappeared. Really strange.
All Also Taken CNNT OP : you should ask them about it, call options don't suddenly vanish because there's a reverse split.