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sourpatch112 t1_j24n20f wrote

Post your positions please.

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2ndSifter OP t1_j25ama3 wrote

I have 2 PGR $130 PUTS exp 01/20/2023 and 1 PGR $90 PUT exp 05/19/2023

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g1ucose t1_j25omah wrote

Fuck sake bro wrote a whole dissertation and ended up buying 3 puts

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wizer1212 t1_j25o1kz wrote

Fair market value is $99

And tbh after looking at the chart, I’d short the s^** of it too

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PortfolioIsAshes t1_j25p9zv wrote

I expect OI to be jacked up once this catches traction, I expected better numbers but I also doubt it'll go down that much neither unless they blow up all their investments. They're America's 3rd largest insurance company and the biggest auto insurer in the states, a bit hard to make them fall even with that amount of debt.

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GoldIndependent6 t1_j28odfa wrote

So I can’t buy a put unless I own 100 shares of PGR? I’m still wet behind the ears, sorry!

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2ndSifter OP t1_j28q5bh wrote

Purchasing a PUT or CALL gives an investor the right, but not the obligation to purchase 100 shares at the underlying strike price. Given that options are contracts, shares typically never change hands.

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GoldIndependent6 t1_j28qr6m wrote

Right I understand the “gist” of it. Here is where it gets confusing for me. I buy a call for example, for $80. Strike price is $150, exp 1 month out. Whatever. Boom I’m in the money, I sell the contract, collect the premium right? So maybe the premium on the contract went up to $200 or something so I made $50? I couldn’t exercise right because I don’t have the shares? Then on the flip side, if it was a put I bought, is that where getting assigned comes in and you get wrecked? Im just confused yo. Like where is the profit made off options. The difference in price of the option contract itself?

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mustbethaMonay t1_j29exx4 wrote

Yes, the money most people make in trading options is off the difference in premium. You're really trading premiums, unless you hold till expiration, when it expires worthless if OTM or assigned or cashed out if ITM. most brokerages will let you partially exercise with the value of the contract.

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redpillbluepill4 t1_j2cwctq wrote

You only need shares to sell TO OPEN a call, or a ton of money to sell TO OPEN a put.

If you're buying a call or a put then you just pay the premium.

Watch YouTube videos

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Stereo-soundS t1_j24nw62 wrote

Yeah and um why is this stickied? Lol.

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OPINION_IS_UNPOPULAR t1_j24od4v wrote

I found it in /new and wanted it to get the credit it deserves. High effort content makes the sub more interesting.

I do this almost every day, go into /new and find good stuff that didn't get enough upvotes and sticky it.

It's easy to upvote templated static memes, harder to upvote long high effort text, but when you think back to what makes WSB memorable, it's never a templated static meme that you could have found on r/funny.

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Bitter_Coach_8138 t1_j24q8zq wrote

So, you work for Geico

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OPINION_IS_UNPOPULAR t1_j24qokm wrote

#🐸

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Ashamed-Reality-4352 t1_j28oay9 wrote

Because WSB mods are running on paychecks from Wall Street. Every post stickied by the mod ends up being a terrible investment. Never buy anything stickied by u/OPINION_IS_UNPOPULAR. I bought TTD puts after reading another DD stickied by the same WSB mod. The next day, it fucking pumped 20% and my puts went 0$ immediately. Be careful about anything stickied by this mod

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[deleted] t1_j28s1h2 wrote

[deleted]

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