I was practicing on the Investopedia simulator. On January 11, I purchased some Jan25 SPY 257 Put contracts. The SPY almost immediately started to drop in price, however, so did the Put Option. I understand covering the spread, but even with a large drop, the Put contract never went positive. The stock eventually went back up, and of course, the value of the Put continued to go down. Now, the stock's price has returned to about the same point it was at when I purchased the Put (it's still January 11), and I'm still much farther in the red than the Delta suggested I should be. What causes this? What causes the Put contract price to go the wrong direction if the stock price goes in the direction that should drive the Put price up and the Time value and Volatility haven't changed?