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I was wrong. Today it was announced an all cash takeover @92.5 by Dassault Systemes. The problem with this contrarian play is that chances are that someone knows more than you!

Bought 2 Put 90 MDSO, Jun 21 @1.4 contrarian to today +5%.

Buoght the CBAY drop (-50%), by buying the stock @5.82. They have kind of failed a phase 2 study, but things could be a little more complicate than that. Let'see if it regains some ground. Bought also the THO fall (-5%) by getting the Call 55 June 21 @1.66

Rebought the DOCU C57.5 June 21 @0.05 in order to zero margin requirements for selling the call 55.

Sold Call on CNC @1.2: +15%. Before earnings I took some money off the table from DOCU, by selling the 57.5 Call @1.75. I was right, because earnings were a disaster and the title lost over 20% in the post market. Anyway I might play again contrarian if the market will overreact to the news...

Your strategy looks interesting. Could you post some examples?

Started contrarian play against OKTA, 1 Put 113, June 21 @2.1. Closed the contrarian on TLRY @2.05: +13%. I didn't make much, but pehraps I entered too high. Edit: Bought 2 Contrarian PUT 62.5 on EIX @1.05

Closed the contrarian short on MU @1.62: +45%. No bad for a ON job.

Sold @2.63 Call 52.5 on K: +260%. Still keeping calls on DOCU, CND and CTRP. I am relying on short positions on MU and TLRY to ride today possible fall. Anyway, I am looking for some contrarian action. Is there any knife falling around ? :)

Shorted even MU, 2 put34 @ 1.1, same expiration day

Hedged the long positions, by shorting the today TLRY high, i.e., bought P35 @1.72, June 21. A bit pricey, but I'll sleep better! :)

Wow! My contrarian strategy is really starting to pay big dividends. Just sold @2.5 the DKS Call 34 I bought @1.05 last wednesday, when the stock dropped 10%. Besides that, except CTRP and YEFT, I am definitely plus on all the other lows I bought, i.e., K, DOCU and CNC. I am looking for some...

Thanks to everyone for the answers. I am learning a lot from you guys :) Today I got lucky. Thanks to K and DKS jumps, I recovered everything I lost before and now I am even gaining something. CTRP is still losing money, but I consider it a lost cause. I saw a sign of reversal also for DOCU...

Absolutely. You must absolute wait for some kind of reversal signal, otherwise you are catching a falling knife.

Thanks, Bob. I always like your thoughtful and competent answers. I agree with you.I am investing roughly 1-2% of the trading capital I allocated for crazy things like this. I am expecting the market to correct itself in a few weeks for each transaction I make. But things are tougher than I...

I am buying these days lows, with expirations ranging from few weeks to few months. As you can imagine, this strategy is killing me! One of the things I am clearly missing is some PUT coverage. Among the most shorted underlyings in this time frame I see the following: AAPL FB QQQ BRK.B NFLX PFE...

Good Point. Reasoning on general terms can help you in avoiding lots of mistakes. However, I feel someone here must have been quite knowledgeable about earnings. Or calculated them very well.

Nice play. Probably this trade was triggered by a deep study or by someone in the know. I always wonder which one could be the pattern to look at in order to spot beforehands these very informed trades. I write down some possible flags in no particular order: - Few days to option expiration -...

Nice play. No bad at all for a beginner! Without giving away your trade secrets, what kind of analysis let you to decide to short so rightly and so timely WFT? Congrats again!

Thanks for sharing the story. It is nice to have someone with your experience and knowledge on this board, Robert. Absolutely. For this very reason I think that it is very important also to monitor the underlying, as I mentioned in my last post.