---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39334634.md"
description: "Got exercised during the simulation 😂 and then it came back. I remember there was a time in live trading where over 500 call contracts were also exercised, and then 100 shares of QQQ appeared in the account, worth $60k. Even though it would be liquidated, I was so scared that I sold it immediately. QQQ was at 500 back then. I wonder if Longbridge is still like this now, suddenly applying multiple times leverage. At that time, you had to be right on the direction, otherwise you'd get liquidated instantly. $Apple(AAPL.US)$SPDR S&P 500(SPY.US)$Invesco QQQ Trust(QQQ.US)$Tesla(TSLA.US)$Micron Tech(MU.US)"
datetime: "2026-03-18T09:32:42.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39334634.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39334634.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39334634.md)
author: "[Z兄交易笔记](https://longbridge.com/en/profiles/11553131.md)"
---

# Got exercised during the simulation 😂 and then it…


### Related Stocks

- [QQQ.US](https://longbridge.com/en/quote/QQQ.US.md)
- [SQQQ.US](https://longbridge.com/en/quote/SQQQ.US.md)
- [PSQ.US](https://longbridge.com/en/quote/PSQ.US.md)

## Comments (14)

- **买什么多看三天 · 2026-03-18T14:12:08.000Z · 👍 1**: If in a real situation, the gap between the money in your account and the funds after exercising is too large, the financing limit will also be insufficient. That means a forced liquidation at a low price. If the margin is insufficient, the position will be closed.
  - **Z兄交易笔记** (2026-03-20T00:36:10.000Z): I had one before, just 1 contract, exercised 100 shares of QQQ
  - **买什么多看三天** (2026-03-20T00:47:18.000Z): Then you have enough cash + financing limit. Many people playing with expiration day options don't even know why they got liquidated. Buying 10 or 20 contracts. 😂😂😂 If exercised, that would be how 
  - **Z兄交易笔记** (2026-03-20T01:21:04.000Z): It's also possible that the direction remains correct, leading to big gains. Risk and reward go hand in hand.
- **健身达龟 · 2026-03-18T12:15:27.000Z · 👍 1**: Holy crap, 160 million??? Bought in with 800k HKD? It's up over 20 times???
  - **Z兄交易笔记** (2026-03-18T12:44:17.000Z): It was leveraged more than 20 times.
  - **Z兄交易笔记** (2026-03-18T12:47:04.000Z): You can buy an in-the-money option to try it out. It will exercise itself and then 🌚 the forced financing is very aggressive. If the underlying stock has large fluctuations in the night market, it co
  - **Z兄交易笔记** (2026-03-18T12:47:22.000Z): However, it's not recommended to buy; leverage is a nightmare.
- **清风拂醉月 · 2026-03-18T11:40:19.000Z · 👍 1**: The richer you are, the richer you get. With a large scale, it's easy to make money.
  - **Z兄交易笔记** (2026-03-18T12:47:32.000Z): Simulated brother
  - **清风拂醉月** (2026-03-18T12:54:21.000Z): I know it's a simulation, that's exactly what I meant.
  - **Z兄交易笔记** (2026-03-18T13:02:36.000Z): The absolute value is larger, 0.72% is still very considerable.
- **新用户_JuZfiq · 2026-03-18T10:28:28.000Z · 👍 1**: Watching the simulation is really satisfying😂
- **两头挨打 · 2026-03-18T10:24:10.000Z · 👍 1**: Suddenly exercised?