if the news had come out before the open, might have killed some people. can only imagine how many puts where naked this morning
Somebody on here must have bought them. But I have the feeling they won't be coming back for a while.
Just relax? Yeah, just imagine your $2,000 trade now worth -$100,000. Yeah, just relax. It's only money.
Wow for the price of a 20 dollar scratch off lotto ticket, you win 9K on this trade What idiot would not buy these contract back for a penny to close out the position? Those numbers based on the 170 strike put.
I was wondering if there was some kind of Black Swan strategy that would have long GS puts. Betting on fallout from their recent Greek debacle could have inadvertantly netted you a bundle.
How many wrote these two weeks ago and were sitting great and like you said could have covered for a penny but didn't want to spend the commission because there was no reason not to just let them die out...... I wrote 165, 160 and 155 puts and ended up covering the 165 for a small gain and covered some 160s but then reshorted again but it was a little hairy for the last half hour as I watched it almost come back to 160. I did end up covering the 155s for a penny and the 160s for 2 cents because i know that they dont expire until Saturday and god only knows what other shoe might fall off after the bell. Even at 160+ the 155 puts where trading for around 20-30 cents with about 30 mins to go. One thing that made it ok was that I was willing to take some GS as I been wanting to buy some but have been waiting for a pullback. I guess today counts as a pullback : o ) I didn't end up buying and or having any options that closed in the money as I felt waiting until Monday when C reports or Tuesday when GS reports might provide for better timing. With all the margin calls I would not be surprised to see some follow through Mon and Tuesday as well. Tuesday or Wednesday will probably be the day I pull the trigger for a short on near money puts (my way of going long). Its not like anything really bad is going to be done by the SEC with them.