Lesson to anyone that will listen: don't trade when half asleep or drunk, they basically amount to the same thing. I got some bad medical news yesterday that had me up for half the night and although I've never made a mistake like this before, sleep deprived or otherwise, I should have known better. I thought years of doing technical work 48 hours straight at LAN parties and the like had made me immune from such silly mistakes due to sleep deprivation but apparently not. I got a small (like $750) order filled of pen C series options (mature this December at $0.03 a share) at $0.003 this morning that I'd had been hoping would come through for about a week and decided to have a look at the order depth that had finally made it happen. Looks pretty thin says I, there's only about 500,000 of standing buys at $0.002 and couple of bottom feeders at $0.001. Nobody is selling at that price but someone could come in with a big at market. Maybe I'll be cheeky and put a standing order in at $0.002 and another in at $0.001, you never know right? So I go to put in 600000 at $0.002 and it gets instantly filled! Fantastic, brilliant, everybody happy, what a strange concidence that someone jumped in on the other end when I was there to buy, price discovery in the market really does work...little odd though, maybe I'll just check my portfolio...gasp. I accidentally put in an order for 600000 at $0.02 and got the standing sales at $0.004. So instead of $1200 worth of options at $0.002 I got $2400 of options at twice the price and have to cough up for them in addition to the $750 I bought at 0.003. I've been a pretty big cheerleader for pen but not $3000 worth of options in this economic climate like them. It is partly the commsec apps fault as it hangs unless you tap the screen twice between every page and I might have caught it if I wasn't mindlessly tapping the screen but this is on me, that's just the reason my idiocy caught me out. I could have had 5 nights in Bali but instead I have 30 seconds thinking I got a slight bargain on options. My message to everyone: Don't do what donny don't does! Review your buy orders in detail!
On the plus side I have a cool story in that I single handedly moved the price action on a $200M public companies most actively traded options. It's still reading $0.004 because of me. That's kind of cool.
haha classic well done phrenzy, at least you have the dollars to cover and the balls to admit your stuffup.
It really wouldn't have happened if their stupid app didn't screw up and I could have reviewed my order (would have been obvious that the value of my order would have been much higher than my intended total), but I missed the "0". As for being rich I would have beg twice as rich if I got the options at half the price like I wanted...oh well, it's only 4 weeks pay. I wouldn't worry about that restraint order too much Julie, today's Internet let's you stalk on your phone right from the comfort of your house, you'll be fine
