Discussion in 'Options' started by NewTraderAdventure, Mar 23, 2020 at 5:29 PM.
under the EXPERT guidance of Tom
Sossy was essentially short strangles across 80+ different tickers
... and by his own admission ... his short delta was good for the first 3% drop
When the tide rolled out
... Sossy was found completely stark bollock naked ... except for his beret !
Picture please! "when the tide rolls out we know who the naked king is."
That gets wiped out on the bid/ask now
Must be printing $ writing calls, all expired worthless.
could you imagine selling a bunch of puts a month ago because stonks only go up?
That's what I did. Started selling calls aggressively once the drop started. Certainly did not offset the loss from my existing longs and I wish I closed more positions earlier. But it helped.
I should have follow you. Where were you when I needed you?
Like most traders, they are losing money FASTER due to volatility.
This morning most put holders on reddit got caught by the fed's money printing and futures being limit up. Very few people can hold, thus they will sell with a loss.
When the market looks too obvious, gtfo!
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