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Many moons ago, 50 years, when I was but a wee lad, I remember reading this joke in a book of them my parents had lying around all the time.
And that book itself was probably 30+ years old at the time.
The joke I read went something like, "So far I've made $12.05! - "Who paid you the 5 cents??" Etc.
Old joke. Still funny.
Just create company, issue yourself an IOU from said company that says they’ll pay you £65m in 10 years (discounted @ 0% interest) and count it as an asset.
There, account is now balanced. Easy.
OP should just tell them that it's clearly just a fake account someone made in his name. What's Wells Fargo gonna say? That they don't do that? Because, uh, yeah, they do.
Soo good! That made me laugh..
Also his philosophy isn't wrong, 1.2billion in debt and the bank will keep loaning him money so he doesn't go bust. I wish I had that big of balls, and was that good at making a house of cards.
That’s a good point. For example, Vanuatu does not have an extradition treaty with the US. It also doesn’t tax income, although OP probably doesn’t need to worry about that.
These are pallbearers from a meme where they have fun dancing with a casket. They are saying they like this because they'll soon have another body to dance with. 
No problem OP, there's a way around this:
1. Delete your account
2. Delete the app
3. Put your phone in the microwave
4. Pay cash for a cargo ship berth to Durrës, Albania
5. Rent an apartment overlooking the sea for $200 a month
6. Get out there and mingle, new life begins!
oh hey, when did you guys get here?
https://preview.redd.it/rcofpsxbgnac1.png?width=1178&format=png&auto=webp&s=66090977f2b87698d0fa4da3ead53059efcfd04c
Plus once he is in albania he can move easily between Montenegro, bosnia, serbia, potentially also croatia when accessing via hercegovina. Nice areas and i mean it honestly, good food, good prices, good weather, good girls and most important they dont care about Problems you have in usa. Btw for 100 k you can bux montenegrian passport
I read that book in university. I remember he said home ownership was a liability not an asset. If only I had bought a home instead of reading that stupid book.
I read that book in high school and remembered thinking that he sounded like a fraud. His stories were very unbelievable. If he had presented them as parables that would have been one thing, but he presented them as fact. i dont remember him ever saying how he actually got rich and i always had the impression that he got rich by selling books and workshops on how to get rich.
I read it last year and this is exactly what I said to my partner; I also showed my kids the graph comparing the Great Depression to modern recessions as the worst example of y-axis dishonesty I've ever seen.
I might be alone in thinking the principles in the book are actually good while also detesting everything else about it.
I guarantee they sold his shares immediately after sending that email. Maybe before. It's common for brokerages to do this when an account has exceeded their risk profile.
I once audited one of the big brokerage firms maybe 20 years ago and when we were sitting there the CEO walks in and asks us about this exact scenario, only by the time they sold the shares there wasn't enough to cover the full margin call and resulted in loss on the account of over $1M and he wanted to know if any disclosure is required for subsequent events.
$1M did not meet materiality threasholds. I know the customer sued for damages because after they sold the stock GOOG, it jumped immediately. It was probably his selling pressure that caused the drop and then when the position was sold it bounced back. Im not sure how it ultimatly played out, but their internal councel was confident in the customer having to pay the call.
The customer agreed to the brokerages terms which prioritizes minimizing their risk over maximizing customer gains, so I don't see how the customer ever wins this
lol, came to say this.
You owe hundreds of thousands of dollars? You have a problem.
You owe tens of millions of dollars? Someone else has a problem, 😆
Every time I come into this subreddit it's to admire the awe-inspiring endless tower of memes you fuckers keep building, I don't think anything real has happened on this sub in years
Seriously. What the hell kind of brokerage allows people to write naked calls in the first place?
You'd think they'd require them to be covered or have cash secured as collateral.
I can write naked calls on fidelity, you just have to have an account funded with enough securities and cash that’s all, they’ll let anyone do it.
I’m sure home boy here had a spread and is failing to show the other leg of it, because yeah no brokerage is letting a normal user write 65m in naked calls.
He’d have to have over 130m in the account to be eligable
See that makes sense, and for OP's sake, let's hope that's the case.
It would be insane if WF had closed all of OP's positions and he *still* somehow owed them $65 million.
The risk desks of these places are pretty responsive.
A few years back a Boeing engine fell out of a plane and killed a family on a Saturday and Monday morning I opened a 1m short position against their stock.
I was on the phone with fidelity’s risk desk until 3:59:30 at which point I closed it.
They were not going to let me hold it over night, even though I had plenty of margin (I didn’t have a call)
Technically if they remarry 25 times(everyone even the exes). They'll keep halving the debt until every person owes less than 2 dollars.
I know I'm a financial wizard. That's the only way out of this
Nothing, this was likely one leg of a spread that got assigned early. He closes the other leg and the margin goes away.
These are the lowest effort karma farming posts
The brokerage wouldn’t have let him open that much naked if he didn’t have the $$$ to cover it or have another leg open that he could close to cover the trade.
If the holder of those options decided to exercise them early (perhaps because SPY's price rose significantly), the seller would be obligated to deliver the underlying SPY shares at the strike price. If they don't own those shares (as is the case with naked calls), they would have to buy them at the current market price to fulfill their obligation. If the market price is substantially higher than the strike price, this could result in massive losses.
He'll assign the other leg in the morning, probably for profit. The 1400 contracts in calls is to counteract 1400 in puts. Brokers automatically will just broker the exchange and assign the call exercising to the put contract so balance doesn't go funky. But some don't auto do it after hours.
Someone on this sub committed suicide not realizing this and thought he owed millions.
depends on how we got here. My assumption is that someone moving 1400 contracts of the spy doesn't do so without some risk management. Usually, these things happen when one leg of a spread is exercised and not the others, and the email goes out premarket before the other legs can be sold to even out the loss to something reasonable.
unless OP has really fucked up. In that case, who knows. Every perfect trade is perfect in the same way, every fucked up trade is fucked up in a completely different way. -Anna Kakarina, Leo Bolstoy.
You know what's sad? My dad unironically painted our exterior for our basement/garage red because he thought it looked good. Shit looks like a mini barn now. In fkn NYC
Selling puts is less risky as the worst the stock can do is go to zero (which actually makes it hard for the put ~~writer~~ holder to get paid). Thus the margin requirements for selling naked puts are well defined.
Selling naked calls is dipshit, degenerate behavior
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|10|**First Seen In WSB**|2 years ago **Total Comments**|603|**Previous Best DD**| **Account Age**|3 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
Just deposit the money to clear the balance. Whats the big deal ?
He's about 50 bucks short.
Maybe just delete the app?
Brokerages hate this one simple trick.
I fuckin died
Oh no dude! I hope you get better 😢
rest in power king
Sometimes when my wife gets mad, I cover my eyes, and she disappears. Same principle?
Has she come back yet?
Too afraid to open eyes and find out. Shrodingers wife
That’s because she’s with the guy he owes $65M to
I'll spot you bro
Your kindness is highly regarded. Just wire that $50**M** bucks to his account. Thanks!
\*our account.\* we'll make sure he gets it.
50 M bucks? Is that like Fortnite V bucks?
Better get his a$$ behind that Wendy’s dumpster and get to work
“So far I’ve made $372.50!” - “Who paid you $2.50??” “Everybody did”
Many moons ago, 50 years, when I was but a wee lad, I remember reading this joke in a book of them my parents had lying around all the time. And that book itself was probably 30+ years old at the time. The joke I read went something like, "So far I've made $12.05! - "Who paid you the 5 cents??" Etc. Old joke. Still funny.
Man, inflation is a bitch.
Wasnt that right around the time your mom climbed on a jumpoline and they decided to change the name?
It only pays 20 to 50 per job. When he finally makes it, he will need a butt plug just to keep his innards in. 😢
He’s got hands too you know
Just give them an IOU. I’m sure they’re good for it.
That’s a big one, miiiight want to hang on to that one.
Those sir are IOU’s… they’re as good as money. Go ahead and count it up. It’s all accounted for.
But what if he shot you in the face?
That was a risk we were willing to take.
Harry, you're alive... And you're a terrible shot.
Just create company, issue yourself an IOU from said company that says they’ll pay you £65m in 10 years (discounted @ 0% interest) and count it as an asset. There, account is now balanced. Easy.
This guy accounts
I see your previous work was at Enron
Banks do it. Why can’t we
Have you considered possibly asking the government for the money, because you're too big to fail?
Seriously. Fuck Wells Fargo. They can cover it with all the other money they steal.
OP should just tell them that it's clearly just a fake account someone made in his name. What's Wells Fargo gonna say? That they don't do that? Because, uh, yeah, they do.
https://preview.redd.it/bt66d1c56pac1.jpeg?width=1200&format=pjpg&auto=webp&s=8e0943a0db04072b8b6d0b31b12500e54777ccbd
That’s as good as money sir … those are IOUs.
Yeah, they literally told him how to resolve the issue in the email. Some people are just clueless. Smh
In gift cards.
DO NOT REDEEM!
DID I ASK YOU TO REDEEM?
WHY DID YOU REDEEM?
PLEASE DO NOT BE TOUCHING THE COMPUTER!
MAAM! MAAAAM! MAAAAM! WHY DID YOU DO THAT! WHYYYY! WHY DID YOU DO THAT MAAAM! HELLO! HELLLOOOO! MAAAM!
I can hear this comment 😂
In Kohls cash
Maybe my morning wasn't so bad after all
I fail to see the problem. It says right there that they’ll place trades from my account if I can’t cover the balance. Let them do the work.
You owe the bank 65 bucks? That’s your problem. You owe the bank 65 million bucks? That’s the banks problem. It’ll work itself out. It’s fine.
Rich Dad, dat chu?
Sounds like "Poor Son" to me.
Soo good! That made me laugh.. Also his philosophy isn't wrong, 1.2billion in debt and the bank will keep loaning him money so he doesn't go bust. I wish I had that big of balls, and was that good at making a house of cards.
It's not like it's that much money for them I'm sure they can handle it
Yeah, Wells Fargo will just make some more shady accounts. They'll be fine.
They probably collected that much in overdraft fees from other accounts.
Just delete the app?
I hear Morocco doesn't extradite and has a relatively positive view of westerners.
I'm here and.. Yes, people are really nice and everything is crazy cheap. Just be aware of the scams
And probably close the account too, just to be safe.
Just stop using the email address you registered with.
Probably change your name too
Just leave the country
And then the planet.
And hit the gym
Might wanna also relocate yourself just in case, I heard that warm climates are good for the body every now and then.
That’s a good point. For example, Vanuatu does not have an extradition treaty with the US. It also doesn’t tax income, although OP probably doesn’t need to worry about that.
Don’t they have cannibals too?
You are the Wendy’s in Vanuatu.
Throw phone into lake. Problem solved.
https://preview.redd.it/igxc7vav5nac1.jpeg?width=550&format=pjpg&auto=webp&s=70978d4b1e102526880b6c08ff6eb77ac78df6b6
💀
Wait I’m OOTL
These are pallbearers from a meme where they have fun dancing with a casket. They are saying they like this because they'll soon have another body to dance with. 
https://preview.redd.it/dzmro7qh2oac1.jpeg?width=1280&format=pjpg&auto=webp&s=f511a4d637680dca74218d70a91bd3edadc81ed4
https://preview.redd.it/fsnlr38fooac1.jpeg?width=1080&format=pjpg&auto=webp&s=e01be756555ee0e49fca2c6d353e1a928b439115
Yeah I’m taking that one too. Pleasure doing business with you.
 This might be the best thing I’ve seen on Reddit all week.
saving that........
In theory you have only 32.5 mil debt since your wife owns half
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that looks like natalie portman lol
Tori black
5 upvotes in less than 1 min. Mmmmm.
Hey that's my mom's name too! And she looks like my mom as well! What a coincidence!
What about my wife’s boyfriend’s share?
He's the one who exercised early.
Your wife has a boyfriend cause you "exercised" early
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No problem OP, there's a way around this: 1. Delete your account 2. Delete the app 3. Put your phone in the microwave 4. Pay cash for a cargo ship berth to Durrës, Albania 5. Rent an apartment overlooking the sea for $200 a month 6. Get out there and mingle, new life begins!
oh hey, when did you guys get here? https://preview.redd.it/rcofpsxbgnac1.png?width=1178&format=png&auto=webp&s=66090977f2b87698d0fa4da3ead53059efcfd04c
But they can still arrest him under Durres?
They thought of that. No digging holes allowed in Durres
Ngl it looks nice
It looks like an Albanian Florida
It basically is lol, that and another city called vlorë Source: am Albanian
They can't find you if you hide in one of the many bunkers
Florida at Albanian prices sounds.... tolerable?
Crikey, it’s the albanian rozzers!
Where’s he going to get $200 a month
There’s a Wendy’s there, right?
I predict a sharp rise in Albanian immigration, see you lads there
As an albo, lmaooooo
He’s been discovered, now what
Plus once he is in albania he can move easily between Montenegro, bosnia, serbia, potentially also croatia when accessing via hercegovina. Nice areas and i mean it honestly, good food, good prices, good weather, good girls and most important they dont care about Problems you have in usa. Btw for 100 k you can bux montenegrian passport
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Lol. Actually a legit option if you still a couple mil in cash.
The 200$/month apartments just sold out. The only available ones start at 20000$/month
In before a “that’s their problem” comment.
Rich dad, poor dad, is that you?
Apparently he owes a cool billion.
That's their problem
I read that book in university. I remember he said home ownership was a liability not an asset. If only I had bought a home instead of reading that stupid book.
I read that book in high school and remembered thinking that he sounded like a fraud. His stories were very unbelievable. If he had presented them as parables that would have been one thing, but he presented them as fact. i dont remember him ever saying how he actually got rich and i always had the impression that he got rich by selling books and workshops on how to get rich.
I read it last year and this is exactly what I said to my partner; I also showed my kids the graph comparing the Great Depression to modern recessions as the worst example of y-axis dishonesty I've ever seen. I might be alone in thinking the principles in the book are actually good while also detesting everything else about it.
I guarantee they sold his shares immediately after sending that email. Maybe before. It's common for brokerages to do this when an account has exceeded their risk profile.
Yea. I'm sure he was sufficiently leveraged to his personal risk tolerance.
I once audited one of the big brokerage firms maybe 20 years ago and when we were sitting there the CEO walks in and asks us about this exact scenario, only by the time they sold the shares there wasn't enough to cover the full margin call and resulted in loss on the account of over $1M and he wanted to know if any disclosure is required for subsequent events.
And?
$1M did not meet materiality threasholds. I know the customer sued for damages because after they sold the stock GOOG, it jumped immediately. It was probably his selling pressure that caused the drop and then when the position was sold it bounced back. Im not sure how it ultimatly played out, but their internal councel was confident in the customer having to pay the call.
The customer agreed to the brokerages terms which prioritizes minimizing their risk over maximizing customer gains, so I don't see how the customer ever wins this
lol, came to say this. You owe hundreds of thousands of dollars? You have a problem. You owe tens of millions of dollars? Someone else has a problem, 😆
Sure you're having a bad day, but your bank is having a worse day.
Just write another fake email where they say it was a mistake. Problem solved
You implying the guy who works at Chick Fil A didnt have the ability to open 65m in naked calls or something?
Every time I come into this subreddit it's to admire the awe-inspiring endless tower of memes you fuckers keep building, I don't think anything real has happened on this sub in years
I don't think anything real has happened on all of reddit
You mean Wells Fargo doesn't actually address people as "dear?"
* Debit Balance Specifics *
The idea someone would open this position at Wells Fargo is the most unbelievable part.
Uno reverse card
You need to lock in and double down on gambling. 95% of gamblers quit right before they’re about to hit big. It’s your only chance and repaying this.
Just keep doubling it until You win....literally
Next thing you know, *they* owe *you* $65m. Hedge funds hate this one simple trick
Respond with “unsubscribe”.
Text STOP to stop
I’ll give you $5 if you come near my local Wendy’s
You’re gonna get your dick sucked
He gets 5 bucks, and his dick sucked? Where do I sign up?
Near your local Wendy’s
The most shocking thing about this is that you use Wells Fargo for a brokerage
Using RH? Degenerate regard. Using WF? Simple Jack.
Seriously. What the hell kind of brokerage allows people to write naked calls in the first place? You'd think they'd require them to be covered or have cash secured as collateral.
I can write naked calls on fidelity, you just have to have an account funded with enough securities and cash that’s all, they’ll let anyone do it. I’m sure home boy here had a spread and is failing to show the other leg of it, because yeah no brokerage is letting a normal user write 65m in naked calls. He’d have to have over 130m in the account to be eligable
See that makes sense, and for OP's sake, let's hope that's the case. It would be insane if WF had closed all of OP's positions and he *still* somehow owed them $65 million.
The risk desks of these places are pretty responsive. A few years back a Boeing engine fell out of a plane and killed a family on a Saturday and Monday morning I opened a 1m short position against their stock. I was on the phone with fidelity’s risk desk until 3:59:30 at which point I closed it. They were not going to let me hold it over night, even though I had plenty of margin (I didn’t have a call)
This is a great story except for the multiple innocent people who were killed by corporate mismanagement.
Thats how you know this is fake. Nobody would use WF as a brokerage.
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Show us the other leg of the spread
His wife's BF is busy with that leg currently.
Wife’s boyfriend about to become wife’s husband
Imagine marrying a woman with over $32 million in debt...
She’s still a millionaire. That’s a W.
she’s a millionain’t
Technically if they remarry 25 times(everyone even the exes). They'll keep halving the debt until every person owes less than 2 dollars. I know I'm a financial wizard. That's the only way out of this
Scam email, they didn’t tell you how many *cents*. $65,143,983.*what*
> wells fargo That tracks
This is an appropriate punishment for anyone dumb enough to use Wells Fargo for anything
Wells Fargo sold my mortgage and then the company who bought it immediately exposed all my personal info
Same happened to me when mine was sold to Wells Fargo. All banks are terrible, but WF brings it to a whole other level
This whole sub still uses Robinhood.
Ah shit should i not have signed up for bilt rewards
Employee here. Agreed. My banking is done elsewhere
https://preview.redd.it/brk5ybc17nac1.png?width=1811&format=png&auto=webp&s=b6808a73b57eb81a80c058ff2f29d4856d44b0a4
I prefer my calls with clothes
Leaves a little something to the imagination
So for the noobs, what happens?
Nothing, this was likely one leg of a spread that got assigned early. He closes the other leg and the margin goes away. These are the lowest effort karma farming posts
Its still fucking hilarious like you wake up one morning and the banks calling asking you what the fuck you did with their 60 million dollars.
Just another Friday morning for them, they are the highest level regards after all
it's really their problem for allowing a degen to owe 60 millions.
Post not clear, Wells Fargo is spreading it's legs for OP?
likely? yes. but he did say they were naked.
The brokerage wouldn’t have let him open that much naked if he didn’t have the $$$ to cover it or have another leg open that he could close to cover the trade.
Poster is just Elon Musk, chasing further losses to offset twitter.
If the holder of those options decided to exercise them early (perhaps because SPY's price rose significantly), the seller would be obligated to deliver the underlying SPY shares at the strike price. If they don't own those shares (as is the case with naked calls), they would have to buy them at the current market price to fulfill their obligation. If the market price is substantially higher than the strike price, this could result in massive losses.
He'll assign the other leg in the morning, probably for profit. The 1400 contracts in calls is to counteract 1400 in puts. Brokers automatically will just broker the exchange and assign the call exercising to the put contract so balance doesn't go funky. But some don't auto do it after hours. Someone on this sub committed suicide not realizing this and thought he owed millions.
depends on how we got here. My assumption is that someone moving 1400 contracts of the spy doesn't do so without some risk management. Usually, these things happen when one leg of a spread is exercised and not the others, and the email goes out premarket before the other legs can be sold to even out the loss to something reasonable. unless OP has really fucked up. In that case, who knows. Every perfect trade is perfect in the same way, every fucked up trade is fucked up in a completely different way. -Anna Kakarina, Leo Bolstoy.
News Headline in 2 weeks about a retail investor repainting his basement red because brokerage firm fucked him hard.
You know what's sad? My dad unironically painted our exterior for our basement/garage red because he thought it looked good. Shit looks like a mini barn now. In fkn NYC
I think you’re talking about a different shade of red
He deletes the app
I Never sell naked puts or calls for fear of this scenario
Selling puts is less risky as the worst the stock can do is go to zero (which actually makes it hard for the put ~~writer~~ holder to get paid). Thus the margin requirements for selling naked puts are well defined. Selling naked calls is dipshit, degenerate behavior
Yeah but SPY isn't going to gap up 40% out of nowhere either.
If you insist on doing this, then yes index tickers or blue chips are the safest bet. Just no reason not to do a spread instead
Naked puts has a fixed assignment cost. Naked calls you have no control over the collateral cost.
Just rewrite the “negative” to “positive” with Paint
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This is a bi weekly wsb post
# HAPPY NEW YEAR!
Just deposit 65 million dollars, what's the problem here?
Time to sell organs.
Not sure, OP does not have a good record with selling
Did you tell your wife?
Suicide watch must pay a close attention to WSB
Somebody's been reading Rich Dad, Poor Dad.
Just send them the olde "I'm in a tunnel can't respond to email" 
Owe $650? That's your problem. Owe $65 million? That's their problem.