KR,
I'm sorry if I sounded abrupt today; I find trading really takes a lot of concentration , plus I was on the phone organizing breakfast and transportation for 24 kids for Wed and Thurs to a competition. I wasn't good for much.
In general, when a stock gets hammered the way ARTG did, the puts are going to be very expensive after the plunge. If you already owned them, you would have done well and probably sold them since options trade a lot on stuff like timing and momentum. The APril ones are now all above the closing price, in the money, and are really costly.
If you thought this is an overreaction, and the stock will bounce back, you could buy the calls much more cheaply than they were yesterday, depending on how out of the money you went.
The yahoo URL you asked about IS the SPX I follow. RIght now I'm holding SPTPT- or April 100s which means they will expire in April and that they have a strike price of 1100.
I had some I had bought at 11 and today when we fell so hard they went from around 8 this morning to over 16. I sold them but I still have some others that I bought last week for more (too much- bad timing). Those same puts last month when the SPX fell to 1081 or whatever, were worth in the 40s briefly and I am hoping we make one last plunge under 1100 so I can get out. I;ve been in and out of them on a daily basis, sometimes several times a day, for a few weeks. I don't know if I am insane or not, but it can be really lucrative. It can also lose you a lot of money fast.
Maybe when I get better at it, it won't seem so excruciating. |
