Are you Put or Call? How much time- decay do you have remaining? What is the strike price? What did you pay? Without knowing this, I cannot even begin to speculate about an outcome.
It is a very tough business, regardless of stock movement, to make money at the "retail" end of the game, i.e., buying an option. Money is made only at the antipodes of extreme to the object you are obligated.
Then, it is because the general direction of the object had been uniform for a very long time, and the underlying option became priced inefficiently. The buyer speculating on a trend reversal takes advantage of the perceived opportunity.The option writer assumed unabated continuation of the trend, but was caught unaware by the reversal, and for a moment, the retail crowd wins.
I would go long on the call- side somewhere below 36. But I will not know when till I arrive. There are many sandbars and shoals between then and now.
Too difficult for me.
Good Luck,
Terrence.
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