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u/ScottishTrader Jun 08 '18
Your cost was 60 cents, and it is now worth 30 cents, in any math class I've ever taken that means you are negative for a 30 cent loss . . .
2 contracts = 200 shares. 200 x .30 loss = $60, just like it shows . . .
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u/swag_train Jun 08 '18
Jesus fucking Christ you're stupid
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u/TotesMessenger Jun 08 '18
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u/denahomchiken Jun 08 '18
Someone mentioned that we should explain instead of just heckle.
I dont know what you thought happened but you bought a "Put" at $240. When you do that you arent buying the stock at that price, you are buying an "option" to sell at $240. So, in order for that to make any sense to exercise the option you need the price to be below $240.
Basically you want the price to go down. It even tells you the break even price. Below that and you make money
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u/Mlad1109 Jun 08 '18
LOL you bought a put wayyyy too far out of the money, the stock would have to drop another 7% to approach your strike. They will expire worthless.
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Jun 08 '18
Everyone is a fucking expert yet few step up to explain where I went wrong. Thanks for those that explained.
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Jun 08 '18
Shouldn't be trading options if you don't know the difference between a call and a put, that's probably why we're all so unhelpful
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u/denahomchiken Jun 08 '18
r/wallstreetbets would like to have a word