give your kids independent study and do some day trading! I hear there’s boatloads to make using Fibonacci retracements.
Don't know what time you sold the puts but the underlying hit rock bottom at around 2:30 PM yesterday so if you sold it then, you would've made some money. Good thing you didn't sell them today as they would've been OTM. The market is determined to ignore the strong job statistics' impact on Powell's rate decision-making it looks like. LOL With such a strong job number, if it was last year, the S&P 500 would've tanked 2%+ by now.
i will try to simplify what smalfil said. BTW i am not an expert. here you go - when you buy an asset and it goes up rapidly, you need to find ways to book the profit or let it ride and also protect the downside. if you have 500 XOM that you bought at say 75 and now it trades at 115. what you do is sell 120 covered call collect the premium. use that premium to buy puts of 100 strike. this is called collar i believe.