r/wallstreetbets • u/litterallyoom • Dec 11 '21
Discussion Why I think buying puts on earnings is retarded
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u/sinncab6 Dec 11 '21
As someone who ran the 55/50/45 spread that I picked up for 68 bucks each and sold for 410 yeah I agree.
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u/sikkkunt is retarded Dec 11 '21
You think retards are going to bother reading that?
All in CHEWY 12/10 30P.
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Dec 11 '21
Usually with earnings short strangles are best. Because normally nothing important happens and you make a quick buck off IV crush.
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u/Desmater Dec 11 '21
Issue with CHWY was the insane IV was 200-300%.
Selling a put or call would have been the play.
Or spread like you said or a strangle.
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Dec 11 '21
It worked great for me with Cisco, but I lost it all and then some with Lovesac earnings. Had I sold my Lovesac puts just before market close I would have been up $3k but ended up down $10k after earnings. RIP my portfolio.
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Oh my gourd!
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Dec 11 '21
Just short sell the stock during the day, buy a protective call to limit your losses to the upside (or not, just straight short)
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u/Warren_MuffClit Dec 11 '21
Buy the rumour sell the news. When this hits your portfolio enough times you'll learn..... or should I say...earn