{ "media_type": "text", "post_content": "At this point I don’t think there’s any chance of my SPY $200 puts for 4/17 being worth anything. Sigh. This market is wild", "post_id": "5e828946a7969f002a9287e5", "reply_count": 29, "vote_count": 1, "bowl_id": "5acc42208c6b52001375e11e", "bowl_name": "Option Traders & Investing", "feed_type": "bowl" }

At this point I don’t think there’s any chance of my SPY $200 puts for 4/17 being worth anything. Sigh. This market is wild

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Posting as :
works at
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At least wait for a drop and recoup some losses. No need to sell at a peak when a potential valley could be near

likehelpful

LOL thanks for keeping me in mind. It did not help. Still -75%

Still holding my $230 puts

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I know, this mkt sucks but a number of us are in the same position. Fingers crossed April treats us better...

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Update I have the brain of a 4 year old and am holding until Friday diamond hands yada yada yada

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I think market will drop

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What does your 🔮 say? Because I’ve been here that everywhere and lost $10K in over 6 trading days 😂

I want to rip my hair out, I’m down like 2k on my puts and there’s no end in sight. Well they’ve lost so much value I guess I have no choice but to hold until they expire

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Ditto

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Looking at VIX, I feel it’s better to cut losses and not play it out.

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i really just want to break even on my 220 and 230 🤗

I paid $6 for mine, guh

Same, I’m holding 4/17 $190s. What’s your average cost rn? Scared about theta tomorrow

Further out references term structure not strike selection..

LOL my average cost is $6 I’m toast

Hold? 😭

This is getting bad. Even if there is a fall, I feel it will be back to yesterday’s or last Friday’s levels at the most

I sold my puts for an 11k loss 😒 IV is down and no way it’s going to 220 by 4/17

D2 same. Sold my puts yesterday around 162. Now I regret it 😭😭😭

I keep seeing posts like “market will drop so I’m holding on to my puts”
All who trade options must remember, you must not only be right in direction, you must be right in the timing and the magnitude of the move in order to be profitable. If you haven’t already, at least go over the pinned post on option greeks for a very basic overview on why you may be losing money even if the market moves in your predicted direction.

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likehelpful

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