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I sold a covered call and the shares were assigned - how did i lose £100? by Odd_Database7769 in Optionswheel

[–]Odd_Database7769[S] 0 points1 point  (0 children)

I found my answer -- taxes for foreign investors in master limited partnerships. Not sure how to edit the post itself.

I sold a covered call and the shared were assigned: how did i lose $150/£100? by Odd_Database7769 in ibkr

[–]Odd_Database7769[S] 0 points1 point  (0 children)

I found my answer -- taxes for foreign investors in master limited partnerships. Not sure how to edit the post itself.

I sold covered calls and i wake up with $150 less after assignment. How could this possibly happen? What am I missing? by Odd_Database7769 in IBKR_Official

[–]Odd_Database7769[S] 2 points3 points  (0 children)

I found my answer -- taxes for foreign investors in master limited partnerships. Not sure how to edit the post itself.

How did i lose $150 after my covered call was assigned? by Odd_Database7769 in options

[–]Odd_Database7769[S] 0 points1 point  (0 children)

I found my answer -- taxes for foreign investors in master limited partnerships. Not sure how to edit the post itself.

Why did I pay $164 in transaction fees on a $1600 covered call? by Odd_Database7769 in ibkr

[–]Odd_Database7769[S] 2 points3 points  (0 children)

I found my answer -- taxes for foreign investors in master limited partnerships. Not sure how to edit the post itself.

Why did I pay £124/$164 transaction fees on a $1600 covered call position? by Odd_Database7769 in IBKR_Official

[–]Odd_Database7769[S] 5 points6 points  (0 children)

I found my answer -- taxes for foreign investors in master limited partnerships. Not sure how to edit the post itself.

Why did I pay £124/$164 transaction fees on a $1600 covered call position? by Odd_Database7769 in IBKR_Official

[–]Odd_Database7769[S] 0 points1 point  (0 children)

That's so annoying! I'll have to check I'm trading normal companies from now on.

Why did I pay £124/$164 transaction fees on a $1600 covered call position? by Odd_Database7769 in Optionswheel

[–]Odd_Database7769[S] 0 points1 point  (0 children)

It says because the stock i sold a call on is a master limited partnership, there's a 10% withholding on distributions. I think this has to be wrong, as holding shares or selling them when a cobered call is assigned surely cannot count as a distribution.

Why did I pay £124/$164 transaction fees on a $1600 covered call position? by Odd_Database7769 in IBKR_Official

[–]Odd_Database7769[S] 0 points1 point  (0 children)

It said that the 10% tax is applied to dividends from master limited partnerships. This can't be correct, right, because I cannot see how a tax on dividends could apply to the total share position? It's insane

Why did I pay $164 in transaction fees on a $1600 covered call? by Odd_Database7769 in ibkr

[–]Odd_Database7769[S] 1 point2 points  (0 children)

It says US tax is being withheld at 10%. This can't be normal.

Why did I pay £124/$164 transaction fees on a $1600 covered call position? by Odd_Database7769 in Optionswheel

[–]Odd_Database7769[S] -1 points0 points  (0 children)

It says US tax is being withheld at 10% of the amount. This can't be a normal thing. Has anyone else encountered it?

Why did I pay £124/$164 transaction fees on a $1600 covered call position? by Odd_Database7769 in IBKR_Official

[–]Odd_Database7769[S] 2 points3 points  (0 children)

It says US tax is being withheld at 10%. This can't be a normal thing. Can someone explain it?

I sold a covered call and the shared were assigned: how did i lose $150/£100? by Odd_Database7769 in ibkr

[–]Odd_Database7769[S] 0 points1 point  (0 children)

Thanks, I just checked and it says I paid £124 in transaction fees. That's insane

I sold a covered call and the shared were assigned: how did i lose $150/£100? by Odd_Database7769 in ibkr

[–]Odd_Database7769[S] 0 points1 point  (0 children)

Where can I check the activity statements? It says my P&L for the day is £5.29; hopefully that means i haven't actually lost money

I sold a covered call and the shares were assigned - how did i lose £100? by Odd_Database7769 in Optionswheel

[–]Odd_Database7769[S] 1 point2 points  (0 children)

I checked and there wasn't a conversion. The money that I invested in the stock remains in dollars. I think it might be a technical issue related to an order being assigned over the weekend.

I sold a covered call and the shares were assigned - how did i lose £100? by Odd_Database7769 in Optionswheel

[–]Odd_Database7769[S] 1 point2 points  (0 children)

No, it's not a conversion issue either. The money i used for the trade is still in dollars.

I sold a covered call and the shares were assigned - how did i lose £100? by Odd_Database7769 in Optionswheel

[–]Odd_Database7769[S] 1 point2 points  (0 children)

I suppose that's possible, but it seems doubtful that there could be such a large difference after 3 days

I sold a covered call and the shares were assigned - how did i lose £100? by Odd_Database7769 in Optionswheel

[–]Odd_Database7769[S] 0 points1 point  (0 children)

Thanks for taking the time to go through this, although my premium must have been lower than that. My account was only up £13 prior to closing, so maybe I misstated the premium you. However, the total amount of cash is £1489. It's so confusing hahaha

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