You should panic yes. You are no trader, you are a gambler. No self respected trader trades unlimited risk plays during earnings, it's just plain idiotic. Crazy A
90 calls... You should of bought Captain MM a Ferrari gift certificate instead. Much less time and effort.
Options "way OTM" on a high beta stock still have value. He's probably losing a shitload of money on his trade, even with the drop in implied volatility. If this were a real trade ( and I seriously doubt it was, the guy seems oblivious to rules concerning options ), he'd be getting a margin call and depending on his financial statis possibly losing his home and worldly possessions. They could take everything.
It'll probably make $470 per share before February 18th. Why would you pay for theta when the January's were a lot more likely to expire worthless? I own AAPL. Shorting any call option is never a safe play in any circumstances.
Whatever. The potential for infinite loss should be a deterrent anytime the strike is within 20% of the underlying. Again, there was nothing safe about that, and shorting the near term options may not have paid as well, but on the same size would have made about the same profit in terms of dollar value on the trade.
+1 You called it right. 26 replies offering advice and help and we don't ever hear from this bearman again in over a day. A real slap in the face.
Yep, gotta be trollin' since he hasn't even posted his entry... Either that or old bearman is in the garage with the car running