Key insights
- A brokerage error initially led to a user believing their options profits were withheld. The issue was resolved as the options likely expired worthless. While the brokerage acknowledged the error, they maintained above-average customer support. This highlights potential risks in options trading and the importance of verifying trade details, but has a limited negative impact on the broader US equity market.
*Edit*
After thinking about what happened I have come to the conclusion that the Options contracts may indeed have expired worthless. Schwab never was able to give me an explanation for how Dennis could confirm the options as having been closed for profit. They sounded genuinely baffled, but to their credit never denied it was anything but their mistake. Aside from the mistake I have to be honest and say Schwab has above average customer support. They even left the $50 credit in my account after I declined it.
I would also like to thank the reddit community for your responses. Even the shitty ones. I had more than a few chuckles reading the "It's only $500 brotato" comments. As if anyone but a softy with a silver spoon would ignore $500 missing from their wallet.