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Former Options Trader !!!
Join Date: Feb 2003
Location: Bucks County PA
Posts: 6,757
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Quote:
Originally Posted by biosurfer1
I bought 2 put contracts today, June 2022 expiration.
This is just out of control and I have seen this too much to know this won't end well. Not a commentary on their cars or Elon or anything besides this is what stock hysteria looks like and it usually comes crashing back down.
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If this is out of control then the June of 22's are not the ones to buy there is over a hundred bucks in time premium in every strike. The stock could drop 50 bucks and they'd barely move in price. Options with that much time in them are not the way to play a major move in the stock.
Really, you'd be better off shorting the stock and buying some cheap calls as protection.
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Last edited by trader220; 01-22-2020 at 04:33 PM..
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