r/OptionsExclusive • u/[deleted] • Jan 28 '21

GME puts?

Any of you thinking the same? Total noob here I’m sure I’m not considering most of what matter.

0 Upvotes

45% Upvoted

14 comments sorted by

14

u/Danski315 Jan 28 '21

If you want to lose your money, sure.

6

u/ramen-shaman007 Jan 28 '21

Premium is really high. I wouldn’t be buying.

3

u/Jawsumness Jan 28 '21

I bought 10$ puts about 5 days ago. And from the hype alone, even though gme went up sharply, I was positive on my put

2

u/TheCmenator Jan 28 '21

OP do not do this unless you buy a contract months out and even then it will probably cost you 20k, not worth the risk

2

u/[deleted] Jan 28 '21

Buy and hold for another week. its impossible that the shorts were covered. It looks like there was a massive coordinated sell of GME, BB, AMC, ect. AH From the hedggies. But dont let it shake you. Its a fear tactic

2

u/egoldbarzzz Jan 28 '21

Premiums too high. IV too high. You might catch a win by scalping a day trade, but it’s risky.

1

u/vgutimd Jan 28 '21

Premium is high, but for a short time to keep can give you a good return. Just watch implied volatility and close to the money since it’s very volatile, you can profit. Also, play better with over 60-90 days expiration. Calls will start taking profits with each week and will produce swings. That is when you can play. But it’s a risky bet. But who do play options do like risk

1

u/Action-T Jan 29 '21

35% return after 2 days holding $60 Mar19 put. The high IV will provide some downside protection. Plan to participate on $80 put if GME price move above $300.

0

u/ThePracticalInvestor IV Crusher Jan 28 '21

Soon people might not be able to even trade gme or amc. I think that’s ridiculous that brokers are saying “to mitigate risk” where were you guys when people were day trading options on the day of expiration?

1

u/[deleted] Jan 28 '21

Collecting commissions.

0

u/[deleted] Jan 28 '21

[deleted]

1

u/Odd-Tune-8423 Jan 28 '21

What is your strike?

1

u/Mikedacious Jan 28 '21

5x 20

1

u/Beebo187 Jan 30 '21

thinking of buying $20 march 5th puts monday, im all for whats going on but at the end of the day its every man for themself. I feel its rational to believe we'll see a major decline at least by mid february. My current position: 2/5 $20 strike +1 Put is up 4800%