INTC 15:1 LEVERAGE POSITION CLOSED, TRADED SPY 0DTE $5K --> $22.4K
UPDATE from my post a few days ago. I was somehow able to hold almost $160k worth of Intel stock with an account worth $10k. I was able to do this by leveraging LEAPS OTM and reinvesting that premium into intel, buying 100 shares, then selling a leap, so on and so forth until I was capped out at 1250 shares, sufficiently leveraged for my personal risk tolerance.
I pretty much decided to unwind this position this morning for a massive, massive loss. But little did I know, Schwab will allow you to buy back your covered calls on margin, assuming that you sell your shares by EOD. So I did the first step, but not the second, and left 1250 shares of Intel uncovered.
I lost about half the and hit $5k. In the depth of my despair, I decided to do the tried and true 0DTE SPY crack cocaine/fent method.
Essentially, today I was able to time the GOD CANDLE at 3:00, and made some smaller trades before then. I now have $22k in my portfolio up from $5k at 10am this morning.
TLDR: abused Schwab to get insane leverage, did not pick up the phone when they called me 3 times, turned my remaining 5k ---> 22.4K on a series of 5 0DTE trades.
ps. fuck that stupid bird, shit on me next time..see what happens.