That is not the actual bid and ask spread on the 404c. After the market close option prices are unreliable. Go and click on the details of the 404c and look at the chart, spy dropped into closing and the options were worth $1.10 at 4pm. I don't know when you bought them but they could have been closed at 3pm for $4.15.
jbotz29 t1_j670i9a wrote
Reply to TD Ameritrade Closed out my options for big loss by RockAndRollMeansWell
That is not the actual bid and ask spread on the 404c. After the market close option prices are unreliable. Go and click on the details of the 404c and look at the chart, spy dropped into closing and the options were worth $1.10 at 4pm. I don't know when you bought them but they could have been closed at 3pm for $4.15.