Also, in addition to my other reply Buying put contracts in an upward trending overexuberant market is overly risky, I was being a troll when making that comment, I was basically saying I'd bet on the downside when his position was to go long and hold the stock.
In reality I would not care as an options trader, whether its fundamentals are sound, because playing options contracts is day trading, not investing. It is a full time job and when I used to do it I would often trade the same stock or ETFs on both sides in the same day buy my calls at opening bell, sell them at the turn then buy puts, ride that down to the turn, sell and by calls to ride it back up.
But if I had large position in the stock itself I would not want to sell but I'd be watching close and getting nervous, however indicators show an arguably moderate upward trend.
From what Blurpy was saying, when I asked if I should buy in the money call contracts and buy some popcorn to watch the show (which he said no to), Had I bought 6k in calls and held for 2 days (which I would never do, it would violate my own rules of trading) I would have made 19k and then playing puts today added another 2400 on the downside.
The puts comment was just trolling because he said to not by on the upside in contracts because of share dissolution, so I trolled him saying his stock was going to crash, in reality it is "in play" and will continue to ridiculous things until a major market move like dow down 1000 and Nasdaq down 350 that is the day GME holder will wish they took their profits.
Also, in addition to my other reply Buying put contracts in an upward trending overexuberant market is overly risky, I was being a troll when making that comment, I was basically saying I'd bet on the downside when his position was to go long and hold the stock.
In reality I would not care as an options trader, whether its fundamentals are sound, because playing options contracts is day trading, not investing. It is a full time job and when I used to do it I would often trade the same stock or ETFs on both sides in the same day buy my calls at opening bell, sell them at the turn then buy puts, ride that down to the turn, sell and by calls to ride it back up.
But if I had large position in the stock itself I would not want to sell but I'd be watching close and getting nervous, however indicators show an arguably moderate upward trend.