this 💩 stock goint into the 🚽 thanks $bynd for being the top trash stock of 2019. cashed out many many dollars last week. Sub $60 by EoY if not sooner.
Would have saved a lot of money with some aggressive spreads
I’m an options aspie so I ended up losing money even when I bought puts. Bought the wrong ones unlike you and am still down like 10%. I bought $55 OTM puts that expire much later, at May 2020. Was trying to minimize theta while at the same time trying to get crazy returns so that’s why the strike price was minimized but the expiration date far out. However that still managed to turn out negative despite this shift which makes me pretty mad. What am I doing wrong? Choosing the wrong strike price and expiration date is one of them, but there must be something about it I don’t understand.
A better way to reduce theta is to use a debit spread, eg. Buy 120 put and sell 115 put.
Did some research on that and unfortunately you need to know when the stock will go down by that level. I also didn’t know at the time when the investors will no longer stay irrational. As Keynes said, the market stays irrational longer than you can stay solvent.
Any recommended resource for beginners in option trading?
r/wallstreetbets
“Hey,this tastes like shit. You guys make money off of this?”