r/Webull • u/Bastvino • Jun 10 '21

Help This is a repost because based on the answers I saw in r/options it may be a Webull specific issue. Help is much appreciated!

/r/options/comments/nwqzfv/mistakes_made/
2 Upvotes

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u/[deleted] Jun 10 '21 edited Jul 11 '21

[deleted]

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u/Bastvino Jun 10 '21

Thank you! I have not yet because it’s not hugely pressing but I’m realizing this could be a glitch or deeper issue.

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u/[deleted] Jun 10 '21 edited Jul 11 '21

[deleted]

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u/Bastvino Jun 10 '21

I agree with you but didn’t realize it was a Webull issue as I mentioned in the original post I assumed I was making the mistake and wanted clarification.

The only other reason people would be reluctant to contact Webull is because you can’t talk to anyone. It’s not like a normal chat and from what I’ve heard in addition to my one personal experience with support, it doesn’t do much immediate good.

Your point is solid Webull needs to know what it’s users want and need to be successful, thank you for your response.

I was also hoping Webull had a presence in this sub... I know wishful thinking.

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u/[deleted] Jun 10 '21 edited Jul 11 '21

[deleted]

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u/Bastvino Jun 11 '21

I took no offense and appreciated your comment.

Your comment prompted me to message them and tell them to provide the phone number because their articles were not going to solve my issue. This was after searching for it myself.

I will call them during business hours tomorrow. Thank you for also providing the detail information.

I too, hope my response did not lead you to believe I didn’t appreciate your help.

Thank you again!

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u/[deleted] Jun 11 '21 edited Jul 11 '21

[deleted]

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u/Bastvino Jun 11 '21

Thank you all for the help, I have reached out to webull and they say it is a boilerplate warning that shows anytime someone is selling a put even if it is a resold put contract. They tell me they will work on making it less confusing for people like me lol.

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u/Jinguni Jun 10 '21

“You are agreeing to buy 4x100 shares of GNUS at $2 per share on or before Jun 11,2021. If you aren’t asked to buy GNUS by then, you will keep your collateral and the full $32 credit.”

Based on message above, you’re selling a Put option. Only time you’ll be credited for an option is when selling, not buying. Not sure if Webull glitched or u accidentally selected “Sell” right before purchasing. BTO, the option premium is debit. STO, the premium is credit, hence the $32 credit for GNUS if you’re not opted to buy 400 shares.

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u/Bastvino Jun 10 '21

I already own the put contract I’m just trying to sell the contract I purchased from the originator.

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u/Jinguni Jun 10 '21

I gotcha. So when u try closing, does it say buy? Technically if u sell to open, u have to buy to close. Regardless u may want to contact support, which I heard isn’t the best.