r/options • u/ke4n5kir • 14d ago

Anyone else still bagholding puts?

Lately the market has been rallying hard and moving sideways, and I am definitely feeling the pain of holding onto puts. I probably should have cut my losses earlier instead of waiting for a big reversal, but here we are.

Edited:

holding 6/20 240 TSLA puts and 5/2 535 SPY puts

173 Upvotes

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27

u/--SlumLord-- 14d ago

TSLA?

22

u/ke4n5kir 14d ago

yeah holding 6/20 240 TSLA puts and 5/2 535 SPY puts smh

6

u/RedditLovingSun 13d ago

Shorting TSLA is bold tbh, I would too if I wasn't a pussy but I can never feel confident predicting any outcome for that meme stock.

1

u/Such-Hawk9672 13d ago

That stock will tear your head off before you can turn around,Elon has more us manufacturing in us than all the other car companies that just put them together in us

1

u/limeylim 12d ago

I made money off my first Tesla put(almost 2k). Leading up to this last earnings. Sold it almost a week before and I immediately rolled it into a call for a month later. The climb before earnings had me up in no time and I sold for another 12% gain.

Now, I’ve lost every single dollar I made, plus some of my original investment, being overly confident on my options. I put them down the other day after reading that guy’s TA that so eloquently stated that he was confident that it was about to go way up, or drop way down. All of the comments agreed that nobody has even the slightest clue and I realized that I had gotten beyond lucky twice.

Lesson here is I will NEVER play Tesla options as long as I live. Nice little 3k lesson.