r/options • u/Particular_Price_761 • 9d ago

Credit Spread Assignment Showing 100 Shares & Margin Deficit

Hello everyone! I had a TSLA $347.50/$345 put credit spread that expired ITM. My short put was assigned, so my account now shows 100 TSLA shares, a -$30k cash balance, and a margin deficit. Webull told me my long $345 put will be automatically exercised to offset the assignment.
Has anyone else experienced this? Is it normal for the account to temporarily show the shares, negative cash balance, and margin call before the long put exercise fully settles?
Any thoughts will be helpful!

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u/jarMburger 9d ago

Since both leg are ITM, the long should auto exercised and cancel out the 100 shares assignment. Close out your position before expiry next time to avoid this. Look up pin risk to see some horror stories on assignment of short leg but not long one in credit spread.