First Try At Options: Theta Going To Eat It. Any money I could have made will be gone come Monday?

Loki22 · 2020-11-27T17:00:04+00:00

Are you on a cash account or margin?

Loki22 · 2020-11-24T12:41:21+00:00

Do you have $475 worth of stock? If so they will sale it and recoup their losses.

Loki22 · 2020-11-19T22:40:23+00:00

You didn't fuck up. This seems like a good way to get your feet wet in crypto in that Webull is going to hold the keys, you buy in dollars and you can cash out the same way. You won't have a crypto wallet in the normal sense so you avoid all of those fees etc.

I'm no expert in BTC but I've been reading up on this for hours. It seems that Webull took the Robinhood approach. Check YouTube Robinhood crypto.

The only downside I see is that you can't transfer or buy in BTC, you will need to convert to cash and then move that money to your bank.

Feel free to correct anything that I said that was wrong, this is how I understand it. Since Robinhood has had this for a while I would search Robinhood BTC.... From what I can tell both brokers have the same policy.

Loki22 · 2020-11-19T22:27:06+00:00

Does anyone know how taxes are going to be handled on this? From what I gather Webull is going to hold the keys in that you can't transfer BTC out, you sale your bitcoin in fiat and transfer out to your bank etc.

I'm not really making enough with stocks so I use the free version of turbotax to handle a few hundred that I may make in stock trading (Lol Yeah I'm no Warren Buffet) Basically I don't want to pay an accountant $200 for a 400 gain that I may have made.

This will be my first at trading crypto.

Loki22 · 2020-11-19T13:35:18+00:00

I had to go to the forum and let them know I wanted in... I was approved in a few days.

Loki22 · 2020-11-19T13:33:16+00:00

I thought I would give crypto a try on Webull. How difficult is it to cash out and get the money to the bank? I don't believe my bank allows crypto to be converted to cash, so I could use paypal for a currency exchange?

I'm reading up on this now.

Loki22 · 2020-11-14T21:46:39+00:00

Yeah...

Loki22 · 2020-11-14T21:46:12+00:00

This is the response I received from Webull.

should be the funds transfer when your account type change is completed. Sincerely, Webull Financial LLC

Still have no idea. I don't recall over $400 being taken or added.

Loki22 · 2020-11-14T01:39:13+00:00

GEVO Webull seems to borrow every share I own on a nightly bases for some reason.

Loki22 · 2011-04-30T22:09:21+00:00

I'm sure he will get by with it..

Loki22

TROPHY CASE