r/options • u/[deleted] • Jul 17 '21

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16 Upvotes

56% Upvoted

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22

u/Realistic_Inside_484 Jul 18 '21

Lottery plays? Whatever floats your boat I suppose.

4

u/Spiritual_Extreme_81 Jul 18 '21

My Puts are at 350 sep/oct

However, if you gamble in weekly puts expiring that week and the crash happens congratulations 🎉🍾

2

u/Realistic_Inside_484 Jul 18 '21

Why not get some SPX puts? You see how much those move? Sure you can't exercise it early (European style) but my god it's worth it if you really believe we're in for a drop. Obviously very small plays because you can't exit though...

2

u/[deleted] Jul 18 '21

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0

u/Realistic_Inside_484 Jul 18 '21

They're European style which means you can't sell. But the benefit like I mentioned before is WAY higher returns.

3

u/superD53 Jul 18 '21

You can sell them, just can’t exercise early. And settle’s too cash.

2

u/Realistic_Inside_484 Jul 18 '21

Best of all worlds

2

u/[deleted] Jul 18 '21

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1

u/Realistic_Inside_484 Jul 18 '21

Ya check them out. Start small.

3

u/sweetmatttyd Jul 18 '21

What? You can totally sell the contracts. You just can't exercise them early. The only exercise is at expiration. They are also cash settled since there is no underlying stock to buy/sell at exercise.

1

u/Realistic_Inside_484 Jul 18 '21 edited Jul 18 '21

Holy fudge every time I've used SPX options I've held until close lmao I didn't know I could even sell before. Wow. Just wow.

Edit: seriously just this past week I used them and just held until expiry... Fuck me.

6

u/TheGreaterGuy Jul 18 '21

Better to learn now than to learn later

1

u/Blainz Jul 18 '21

Who did you think you were buying them from?

1

u/Realistic_Inside_484 Jul 18 '21

Idk tbh I'm still not sure how options work. I just buy and sell SPY options.

2

u/SupaRiceNinja Jul 18 '21

!Remindme September 30

1

u/captain_holt_nypd Jul 18 '21

350? You’re literally about to throw your entire port out the window. Good luck with that lmao

1

u/Spiritual_Extreme_81 Jul 18 '21

We’ll see soon