I have my account in an IRA; therefore I ran into a buzz saw. I am not allowed to keep a short position for longer than 24 hours. I did not see the email until after 3 PM on 10/13. The broker corrected the situation for me by buying the stock at market. So there I was down about $1300 and with not enough money left to exercise the purchased call for $3000. I called the broker and asked why they didn't just exercise the purchased call and the answer was they were not allowed. I can not leave them with a standing order to do it either. In the end I told the guy to sell my purchased call at market. I was going to come on here and rant about the loss, but, to my surprise, I came away with $471.60 after commissions.