Deep OTM put does not fall although stock is up 40 %

Discussion in 'Options' started by antares66, Aug 26, 2021.

  1. Just watched the puts for SPRT. Stock is up over 40% to $19.70 but the put with $8 strike, expires 10.15.21, does not fall. What´s the reason for that? High implied volatility?
     
  2. qwerty11

    qwerty11

    IV and LR go higher...
     
    jys78, Apologetik and caroy like this.
  3. taowave

    taowave

    they blew up the OTM downside 80 vol handles or so..Coming after the puts..Short interest above 60%..Can the stock be borrowed or do they charge you your first born??
     
    Last edited: Aug 26, 2021
  4. GotherL

    GotherL

    With 2 months left on these meme plays that's plenty of time left for it to drop hard.

    If they were weeklies those puts will get destroyed.
     
    Last edited: Aug 26, 2021
  5. GotherL

    GotherL

    The puts on SPRT are ridiculously high on IV. Even the OCT 15 25 puts are a thousand a contract.

    I've not seen this type of short squeeze since GME/AMC back in the day.
     
  6. qwerty11

    qwerty11

    There were enough short squeezes lately (besides GME/AMC)
     
  7. qwerty11

    qwerty11

    First trade today of this option was at $1400. Will possible also end there...
     
  8. taowave

    taowave

    Well that didnt take long to get in trouble..
    Im in the Oct 33-25 16 Split strike fly for a 30 cent credit...
     
    Last edited: Aug 27, 2021
  9. newwurldmn

    newwurldmn

    im in the dec 39 10 1x3 for like 18
     
  10. taowave

    taowave

    18 debit??Thats a gnarly little bugger
    Short and good down to 4.5

    Im doubling up when my spread goes to 1 credit..Should take about 18 nanoseconds


     
    #10     Aug 27, 2021