That's the plan for now. This is what I have mapped out for myself. Going to wait until it hits $430 (resistance) and buy puts with a strike price of $350 and expiration of June 20-Jun 25th and wait. Unless it really buckles and moves in another direction willing to wait and see how this plays out. Not financial advice, simply my journal.
@FiboTrader1, 17 contracts at 3.37 I thought the PCE was gonna be bad I’m down 80 percent
FiboTrader1
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@Nickmagnotta, oof. I would sell and buy less contracts closer to the money and possibly a week or two further out. I'm still looking at 340, but not until late June, mid July
noahc9214
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@Nickmagnotta mines is 390p exp June 2023 do you think I have a chance down 40k
noahc9214
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@FiboTrader1@Nickmagnotta mines is 47 contract 390p exp June 2023 do you think I have a chance down 40k
testicular101
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@noahc9214, bru why tf would you go all-in with contracts that have an expiry longer than a year... if you hold ofc and don't watch your investment every day you will most likely be fine, but your gonna be down probably 80k or more next week, but the weeks after you will be in the money.
FiboTrader1
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@noahc9214, yes, if you have a year, those will play nicely
aaronrtan
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Thetha decay will be bad. When and if it hits around 430 average down by buying more. Probably the closer dates are cheaper. Sell yours and buy closer date.