What a mess! If BIDU posted any better results I would bet they were faking! Everything was stellar... they beat on EVERYTHING!
Yesterday was dooms day as I anticipated what the $90/share jump in their prices will do to my account this morning. I was right, sure enough this morning the big bad red sign on my account told me that if I don't post collateral the account will be liquidated!
How can I allow them to liquidate the BIDU positions when they are still $90 out of the money!!!! After a hectic morning, the funds were wired from my bank to the account to cover the margin!
As I suspected the option prices had been bid up to about $15 this morning! With the extra liquidity now I am ready to manage these positions without some brokerage selling everything to cover their own ass!
I will post more as we go.... stay tuned!
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