June 30th expiration date.
it must be a robot?
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Can you explain this position a bit more? You bought $5k worth of options (25,000 @ $0.20) to sell SP500 (currently at ~$330) at a $200 price, with the option to exercise until June? Idea being that it will drop to below $200 before then?
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Yes, but even if say things get a lot worse by, say, April, the value of the option will go up (maybe 10x to $2 each) and I could sell it then for example. Or hold it
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How did you pick the strike and expiry?
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conviction about the direction and magnitude, best long term deal in the options chain. there was just a lot available for $0.20 for some reason... the more extreme the strike-expiry stretch is (it’s like a spacetime distance) the more extreme the non-linear pricing error
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Same. Except I get the 1 — 3¢ puts on Feb 18 & 19.
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I am going to use the profits from this to help fight the virus.
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