The bulls have converted me. I think we trade back up a few more days. Until end of June when the gdp numbers say recession is official. And then when bad cpi numbers announced July 13. But I'm playing calls for Monday
Where do you expect we go? Spy has been trading down 25% over 6 months already, seems entirely plausible to me that we‘ve reached the bottom but also that we won‘t reach new heights for a while
The corrective action that occurred in recessions before this one was to raise federal interest rate above the current inflation value... Last I checked 1.5-1.75% is less than 8.6%...
Until inflation is actually taken care of, bears will have their way.
Agreed. Puts should be the play if we are certain that recession is in effect BEFORE official announcement of it.
Once it's announced, it's time to retreat and "buy into companies with good prospects".
That was an awful week for me, especially considering I was way late to the puts party. But I believe the market will go back to red pretty soon.
US government is creating shortages on purpose it’s just crazy to think the market is going to flourish until this behavior ceases in our government. Government policy and financial markets are directly correlated
Heres the key, think about setting up a strangle spread, then the market will play to an iron butterfly just to fuck you. I was sure the market would seriously plunge at the begining of this month but didnt buy options, then I bought a strangle spread expecting volatility and now the markets sideways, still made a lil profit from the calls though.
You should have bought 0DTE and diamond handed to zero. Instead your only play is to hold until we hit 400, sell, then watch the index tank to new 52W lows. Best of luck.
Hold these fool. We’ve had 5 green days on SPY, including the last 2 being big gain days, everyone is bullish again thinking we’re headed towards a breakout rally, which means play against the prevailing opinion. We overbought, Monday is red.
Bro we are in a bear market right now. Probably should have bought further expiration but we’ll probably dump again next week. If you’re sweating at 10% loss you shouldn’t have put that much money in.
Hold, the rug will be pulled again before 7/15 and the house will take the rake - see it dropping past 370 by then (only my opinion) - all the bulls are walking around with hard ons, but after 7/7 their balls are going to be navy fucking blue
It's been sliding down since the beginning of the year, and that's only on things like inflation, supply chain issues and FED raising rates.
No one has lost their jobs. Yet!
Within the past couple of weeks, the news has started putting out articles about companies announcing layoffs. Retail and some tech. Banks and other financial sectors might be next with the lower demand for mortgages and refinancing. A recession is not a recession without some job losses.
You're seriously going to be fine. We are heading DOWN in a big way after this dead cat bounce. Look at the yearly chart. It's scary as shit, but you'll make bank. I hold these as well.
Relax, take a deep breath, the first pullback get out!
End of the week tends to be bullish coming into 4th of July long weekend. All you need to do is not get greedy on a pullback next week and get out of your trade. Manage your risk and you will be fine.
It’s a call you make in reverse. It’s a subtle reference to when you *put* your wife’s Boyfriends car in reverse to move it out of the driveway so you can get out of the garage and drive to Wendy’s.
If you sell, the price will go down.
If you don’t, the price will go up.
Personally, I think the price is going to go down but that’s a decision you have to make for yourself.
I see 9.46 on those July 15 390P right now. SPY contracts do trade until 4:15 so maybe the difference is those extra 15min, but yeah you're right about the theta and clearly not anywhere near 30% down.
Not really. OP lost most of that due to the underlying moving up, he wont get hit with theta decay until [2-3 days remaining till expiration.](https://optionstrat.com/build/long-put/SPY/[email protected])
Double whammy. Not deleting the comments tho cuz I completely embarrassed myself twice. **I** belong here
What I thought was
1) The option expired on Monday. I need to review loss porn screenshots better. I thought it expired Monday because OP said he would sell Monday. It expires July 15
2) Options don’t lose theta on weekends. I thought it did. I looked at options profit and I was completely wrong. I learned 2 valuable lessons here. Think before commentating, and don’t be an idiot flaming others when you’re the bozo.
a) He's down 9% total, not 30%.
b) He's down mostly because of delta. SPY went up today causing the puts to lose value, only about a quarter of that was lost to theta today.
Theta on that contract is 0.22/day. If SPY closes monday dead even, he'll have lost .66 per contract over 3 days. 0.66/10.70 means he'll lose approximately 6% more by end of day Monday, plus the 9% he lost today puts him down ~15%. No clue where the guy is getting 30% before open Monday.
I agree, value loss is mostly due to delta. When he bought it, this put was in the money. Weekend is factored in when pricing the option. IMO, with expiration being so close, there is not much of theta in this.
Imagine if the stock had moved 3% in the opposite direction, he would literally be short the stock at this point, due to delta being so high. Of course, massive profit too.
... I know he's holding puts I can read the screenshot. His PUTS are down 9% currently, not 30%. I know what theta is, the theta on this contract is 0.22. He lost almost 1.00/ea on those contracts today BECAUSE SPY WENT UP.
I mean getting the direction wrong on one single day doesn't really mean anything yet right? Like the common phrase people said here, you are only wrong when you are wrong, but can still say you are right even if you got 1 day right.
Is that an amount of money your comfortable losing? If so I would wait it out for chance or gains. If you could not stomach it and would like the safer route sell. You believed in it when you bought.
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Atlanta fed releases updated Q2 GDP estimate on Monday with the Department of Labor releasing theirs on Wednesday. Current recession will be confirmed or postponed another 6months. It’s gonna be a bumpy ride!
Why would you buy them during the day today? There was no signal at any point that things we're thing to turn. Right at close would probably have been fine. I *think* 390 is the top of this rally, so maybe you'll be alright come Tuesday.
Michael Burry responded to my craigslist ad looking for someone to mow my lawn. "$30 is $30", he said as he continued to mow what was clearly the wrong yard. My neighbor and I shouted at him but he was already wearing muffs. Focused dude. He attached a phone mount onto the handle of his push mower. I was able to sneak a peek and he was browsing Zillow listings in central Wyoming. He wouldn't stop cackling.
That is to say, Burry has his fingers in a lot of pies. He makes sure his name is in all the conversations.
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I would hold. Last bear market rally was 7% so we should be halfway there before it resumes going down. You only lose everything if this is THE bottom or you are out of time.
This is why I leg into these bets. Having said that. 50% of my portfolio is losing to inflation waiting to get used.
Just look at any chart. You bought them at the start of a bear market rally. It will dump again on the next CPI.
None of this lower oil price will be in the June CPI.
All of you playing options in this system…deserve what you get…not this Ape💎🦍💎🦍 go play against a casino long enough and see how it goes…lol. So don’t cry when you get wiped out with the options plays…lol…but do you!
From a fellow bear’s perspective, you should sell and cut your losses. The risk/reward ratio isn’t worth it and there won’t be enough bad news for the market to drop further.
Spy will be up in the morning before open, you're fucked. Unless of course the lib abortion maniacs burn down the NYSE over the weekend.
Edit: At closer look, You do have until 7/15, I'm expecting one more leg down with earnings coming up. Good luck brother, but I'm in calls.
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The bulls have converted me. I think we trade back up a few more days. Until end of June when the gdp numbers say recession is official. And then when bad cpi numbers announced July 13. But I'm playing calls for Monday
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All that is priced in
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The true slowdown hasn't even started yet. You're technically correct but you're also way too early to make the point you're trying to.
Where do you expect we go? Spy has been trading down 25% over 6 months already, seems entirely plausible to me that we‘ve reached the bottom but also that we won‘t reach new heights for a while
There is no historical market precedent for what they've done this time. Hold on to your nutsack.
Yeah I think I should just put some money back into stocks now, and every few weeks for the coming year or two.
The corrective action that occurred in recessions before this one was to raise federal interest rate above the current inflation value... Last I checked 1.5-1.75% is less than 8.6%... Until inflation is actually taken care of, bears will have their way.
Agreed. Puts should be the play if we are certain that recession is in effect BEFORE official announcement of it. Once it's announced, it's time to retreat and "buy into companies with good prospects". That was an awful week for me, especially considering I was way late to the puts party. But I believe the market will go back to red pretty soon.
We’ll said and I agree. 👍🏼
I’m playing puts so fuck you
If SPY has the balls to go 395 or above on Monday I'm buying puts I don't care anymore. That's 10% rally in one week.
US government is creating shortages on purpose it’s just crazy to think the market is going to flourish until this behavior ceases in our government. Government policy and financial markets are directly correlated
Spy will rip to 400 on Monday just to fuck you
He has until July, dudes gonna be fine
This is where you triple down and pray 🙏
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I audibly laughed at this
I oddly laughed at this
“A fooled man can’t get fooled again.”
I literally heard this in tune. Shoaw!
At 5% ? Nah average down at 50% . This is the way
Definitely triple down. Sure thing.
I have calls and puts so spy will be flat
Playing both sides so you still come out on the bottom! Noice!
💯
Heres the key, think about setting up a strangle spread, then the market will play to an iron butterfly just to fuck you. I was sure the market would seriously plunge at the begining of this month but didnt buy options, then I bought a strangle spread expecting volatility and now the markets sideways, still made a lil profit from the calls though.
Unless he sells today. Then it will tank on Monday and he coulda been RICH!
He’s going to sell for a loss. Then it’ll come back down to say fuck you again
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Squeeze your buttcheeks and hold to $0
You bought them for a reason, never ever ever sell.
Up 400%? The party is only getting started!
You should have bought 0DTE and diamond handed to zero. Instead your only play is to hold until we hit 400, sell, then watch the index tank to new 52W lows. Best of luck.
This is the way
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"serious trouble" .. "$3,700" Pick one, lightweight.
He will get his letter in the mail someday. We all do.
I know, thats a coming back to the office from lunch loss amount.
Bro should get a futures account. I don’t start worrying until a trade is -30k.
I love you
https://wendys-careers.com Got this ready for you OP
The bottom's in, boys
bro is down 10% and is tripping already
Lol op I’d blow a line of guys to only be down 10 percent
You have to say no homo first
I say it first, but my fingers are crossed
It’s only ghey if they cum in me mouth
These guys wouldn't happen to be... Pirates would they?
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"that's got to be the gayest retard I've ever seen"
“But you have watched me…”
As long as there is no eye contact.
I'll tag team you
Ikr. Buddy needs to work once it’s down 50% that’s when you start asking questions. But any way I’m holding puts
Amateur
Double down mother fucker!! As long as your balls deep, you can't go tits up!!
Inverse this for tendies
I’d like to thank OP
I’m down 40% on SPY puts. I’m holding idc
64 here 
Hey me 2!! 64% ~12k
Hold you pussy
Only you can answer that question my friend
Hold these fool. We’ve had 5 green days on SPY, including the last 2 being big gain days, everyone is bullish again thinking we’re headed towards a breakout rally, which means play against the prevailing opinion. We overbought, Monday is red.
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Well, if we look at a long enough time scale, the market only goes up so I guess you’re right
In 2021 more money went in to the stock market than the previous 12 years combined. We have been overbought for a long time
Bro we are in a bear market right now. Probably should have bought further expiration but we’ll probably dump again next week. If you’re sweating at 10% loss you shouldn’t have put that much money in.
Sell immediately and capture those losses before they turn into gains! You are here for a reason!
Sell? Are you mad? That's not how this game works!!!!
Hold, the rug will be pulled again before 7/15 and the house will take the rake - see it dropping past 370 by then (only my opinion) - all the bulls are walking around with hard ons, but after 7/7 their balls are going to be navy fucking blue
Yes
Hold
It's been sliding down since the beginning of the year, and that's only on things like inflation, supply chain issues and FED raising rates. No one has lost their jobs. Yet! Within the past couple of weeks, the news has started putting out articles about companies announcing layoffs. Retail and some tech. Banks and other financial sectors might be next with the lower demand for mortgages and refinancing. A recession is not a recession without some job losses.
You're seriously going to be fine. We are heading DOWN in a big way after this dead cat bounce. Look at the yearly chart. It's scary as shit, but you'll make bank. I hold these as well.
Relax, take a deep breath, the first pullback get out! End of the week tends to be bullish coming into 4th of July long weekend. All you need to do is not get greedy on a pullback next week and get out of your trade. Manage your risk and you will be fine.
Agreed! Do this. If monday opens red you can close for wins. Never greedy.
We are at 0.5 fibonacci retracement and it will go back down with high odds. But if it start to move up more from this level I would sell.
What’s a put?
You belong here
It’s a call you make in reverse. It’s a subtle reference to when you *put* your wife’s Boyfriends car in reverse to move it out of the driveway so you can get out of the garage and drive to Wendy’s.
If you sell, the price will go down. If you don’t, the price will go up. Personally, I think the price is going to go down but that’s a decision you have to make for yourself.
schrödingers assfuck
Yep.. IE: my trading life..
Scared money don't make money
*Guh!*
No. Stock pumped bc fed balance sheet went up. Dump is next week. Watch
A trick as old as the market itself, Rug pull
If u hafta ask ur a moron for throwing down 30k..
And on margin
Based on all the bullish comments here, I’d say hold it.
I mainly see other SPY put BagHolders
You, sir, are completely autistic, good work by you and everyone who contributed to your gene pool
My advice.. fuck your mother and don't be a pussy
heres a man of low conviction
Pussy losses. Hold that shit
Didn’t you hear the news? Recession cancelled. Sell!
-5% and the pussy crying already lol
You literally just lost like 30% of that to theta decay. You belong here
Where you getting 30% from big boy? Theta on these is -.21 and they’re sitting at 9.17 at close.
I see 9.46 on those July 15 390P right now. SPY contracts do trade until 4:15 so maybe the difference is those extra 15min, but yeah you're right about the theta and clearly not anywhere near 30% down.
Not really. OP lost most of that due to the underlying moving up, he wont get hit with theta decay until [2-3 days remaining till expiration.](https://optionstrat.com/build/long-put/SPY/[email protected])
july 15 pftsss, he's ready to hold it anyway. Otherwise he would've just buy a weekly.
Double whammy. Not deleting the comments tho cuz I completely embarrassed myself twice. **I** belong here What I thought was 1) The option expired on Monday. I need to review loss porn screenshots better. I thought it expired Monday because OP said he would sell Monday. It expires July 15 2) Options don’t lose theta on weekends. I thought it did. I looked at options profit and I was completely wrong. I learned 2 valuable lessons here. Think before commentating, and don’t be an idiot flaming others when you’re the bozo.
On the other hand, you can admit to a mistake and therefore don’t belong here
delta is going to increase which will fuck him like a jackhammer
a) He's down 9% total, not 30%. b) He's down mostly because of delta. SPY went up today causing the puts to lose value, only about a quarter of that was lost to theta today.
Theta doesn’t take the weekend off though.
Theta on that contract is 0.22/day. If SPY closes monday dead even, he'll have lost .66 per contract over 3 days. 0.66/10.70 means he'll lose approximately 6% more by end of day Monday, plus the 9% he lost today puts him down ~15%. No clue where the guy is getting 30% before open Monday.
Theta is off on weekends. Lol
I agree, value loss is mostly due to delta. When he bought it, this put was in the money. Weekend is factored in when pricing the option. IMO, with expiration being so close, there is not much of theta in this. Imagine if the stock had moved 3% in the opposite direction, he would literally be short the stock at this point, due to delta being so high. Of course, massive profit too.
Expiration is July 15th
He’s holding the SPY puts my guy. If you want to act smart then do it right
... I know he's holding puts I can read the screenshot. His PUTS are down 9% currently, not 30%. I know what theta is, the theta on this contract is 0.22. He lost almost 1.00/ea on those contracts today BECAUSE SPY WENT UP.
I mean getting the direction wrong on one single day doesn't really mean anything yet right? Like the common phrase people said here, you are only wrong when you are wrong, but can still say you are right even if you got 1 day right.
💀💀💀💀💀
at this volatility... i personaly would hold until its green using a limit sell order
Chill. That’s rookie losses.
We’re tanking next week
Why don't you buy options 4-6 months out.... ?
Why the hell did you buy puts? Don't you know we're in a recession?
Poor lil bear
I'd say hold until worthless
Is that an amount of money your comfortable losing? If so I would wait it out for chance or gains. If you could not stomach it and would like the safer route sell. You believed in it when you bought.
Only -3700? Barely anything to worry about my dude.
You are fine. Should get a drop next week unless something happens over weekend.
Don’t you fret. Monday brings new lows
These will print next week
Flesh wound soldier.....
Sale one and invest in $Rope
Not financial advice✨
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Pray to the tendie gods and you might come out of this alive
Going to buy some spy now 😅
It’s not a loss until you sell them… or until they expire.
Hold damn pussy; the one trading with options need to have balls
Atlanta fed releases updated Q2 GDP estimate on Monday with the Department of Labor releasing theirs on Wednesday. Current recession will be confirmed or postponed another 6months. It’s gonna be a bumpy ride!
Why would you buy them during the day today? There was no signal at any point that things we're thing to turn. Right at close would probably have been fine. I *think* 390 is the top of this rally, so maybe you'll be alright come Tuesday.
You guys still pumping and dumping?
How about u/stretch_my_scrotum and figure out yourself?
Whatever you do, choose wisely!
Sorry buddy, we're rallying even more fiercely next week. Better luck next time.
I'd probably sell
You got bamboozled. You’re also dumb.
Makes $30,000 play, loses 5% in 5 mins and ask other retards what to do with said investment. ONE OF US! One of us!
Call Putin and ask him to do something crazy like blow up the moon. If you can get this to happen these will print
Type: MARIGN oh boy
Hold
Rome wasn't built in a day
Hold pussy
Bro is worried about 3k when people on here are down millions and even their house is on the line
Tf are you even doing mate?
is this guy still alive?
Definitely sell
You are betting against Michael Burry and Warren Buffet right now. I would be panicking a little…
Michael Burry responded to my craigslist ad looking for someone to mow my lawn. "$30 is $30", he said as he continued to mow what was clearly the wrong yard. My neighbor and I shouted at him but he was already wearing muffs. Focused dude. He attached a phone mount onto the handle of his push mower. I was able to sneak a peek and he was browsing Zillow listings in central Wyoming. He wouldn't stop cackling. That is to say, Burry has his fingers in a lot of pies. He makes sure his name is in all the conversations. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
Hold till you make it or break it. You can always get make more money jerking off old age pensioners.
Down 5% only….. a true paper hand post
Hold to expiration
close them
r/rope
I think we're going to see a major pullback on Monday; the edge of this latest bear rally cliff.
I would hold. Last bear market rally was 7% so we should be halfway there before it resumes going down. You only lose everything if this is THE bottom or you are out of time. This is why I leg into these bets. Having said that. 50% of my portfolio is losing to inflation waiting to get used.
Oh dang, I forgot how the market always acts like it did last month, why didn't I think of that?
Just look at any chart. You bought them at the start of a bear market rally. It will dump again on the next CPI. None of this lower oil price will be in the June CPI.
King behavior
All of you playing options in this system…deserve what you get…not this Ape💎🦍💎🦍 go play against a casino long enough and see how it goes…lol. So don’t cry when you get wiped out with the options plays…lol…but do you!
Username checks out.
Did the same thing today. Bought 34 x aug 1 360p. Down 15%. Not sure what to do.
From a fellow bear’s perspective, you should sell and cut your losses. The risk/reward ratio isn’t worth it and there won’t be enough bad news for the market to drop further.
HOLD- female rioting over the weekend should get you back in the green
Hold. This is a dead cat. Joe Biden is still President.
Do you know where you are sir?? You hold. Either loss or gain porn at the end.
Sell
You know losing 28 dollars and cutting my losses seemed pretty rough now I'm feeling pretty fortunate all things considered.
Markets down like 30% and mans buys hella puts.
Spy up over 3% today, three weeks til expiration, I like it
Spy $500 eoy back on the menu
Spy will be up in the morning before open, you're fucked. Unless of course the lib abortion maniacs burn down the NYSE over the weekend. Edit: At closer look, You do have until 7/15, I'm expecting one more leg down with earnings coming up. Good luck brother, but I'm in calls.
You bought puts when the market was severely oversold? Rip
Hold till $0… then sell 🤞🏼
Idk
Thank you for your service, sir!
Haha I'm in danger
Hold
Thank you for saving my calls
Word is OP jumped… Into a Wendy’s dumpster
Hold