LESL
Leslie's, Inc. Common Stock
stock NASDAQ

Hey y’all,

So I owned 2k shares of LESL which were being used to cover twenty contracts. News came out after market that they are filing bankruptcy and I panic sold all the shares post-market given the calls are very OTM and likely will never be with the bankruptcy news.

I want to do this right and buy to close the calls tomorrow at market open, but as soon as I sold the shares I lose access to 100% of my capital(about $8k). I tried to buy back the shares post-market after I realized that was stupid and I need to close the calls first, but all my cash being zeroed out prevents me from buying anything. I even sold some other shares to cover it and it wasn’t available.

Also, as a level 1 trading account, why was I even allowed to sell them in the first place. I’ve always gotten errors in the past when I click the wrong things.

Right now I’m planning on just buying to close the calls at whatever market rate is to close them out properly or buy the shares back. I guess I just feel confused why I lose all my buying power with more than enough to cover it sitting in my account eligible for withdrawal.

Hey y’all,

So I owned 2k shares of LESL which were being used to cover twenty contracts. News came out after market that they are filing bankruptcy and I panic sold all the shares post-market given the calls are very OTM and likely will never be with the bankruptcy news.

I want to do this right and buy to close the calls tomorrow at market open, but as soon as I sold the shares I lose access to 100% of my capital(about $8k). I tried to buy back the shares post-market after I realized that was stupid and I need to close the calls first, but all my cash being zeroed out prevents me from buying anything. I even sold some other shares to cover it and it wasn’t available.

Also, as a level 1 trading account, why was I even allowed to sell them in the first place. I’ve always gotten errors in the past when I click the wrong things.

Right now I’m planning on just buying to close the calls at whatever market rate is to close them out properly or buy the shares back. I guess I just feel confused why I lose all my buying power with more than enough to cover it sitting in my account eligible for withdrawal.