$GSX Now Down 25% From Last Call - Look At $LK Thats The Future
July 7.5 puts going at 0.70
We've seen stuff like this before, but even after a major scandal breaks you only see a 80% drop and some short covering resulting in a pop
You can literally get the best case scenario and still walk away with little to nothing
So why are the options so expensive? Am I missing something?
Usually though the more outrageous they are, the more often they hit
Still, I've seen this song and dance before, it goes down 80% in a day, there is massive short covering for a few minutes, and the stock halts and it doesn't open until ages later
If you are short shares or have strike 30 puts you're fine, but if you have strike 7.5 puts you could be out of luck