@sudha_lakshmi buying opportunity imo.
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to be sure there's a large bid ask spread on moderate volume on a long dated way out of the money option...pic.twitter.com/QvyW6nVgw6
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large drops tend to spike the vol for options- i remember back in 08 when the market crashed, that day, people who had far OTM CALLS in the financial sector still ended up making money
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a super dumb consequence of volatility being models as a process equally likely to go both ways
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Efficient Markets Hypothesis is already dead of course, but it's still striking.