EQIX down 25% AH!!!!!

Quote from NoDoji:

What I found interesting was my chart of the options shows $100 puts going for around .50 yesterday. I would've thought the pre-earnings vola on a high flyer like that would've commanded more premium. Put sellers were left holding their own body bag; $100 puts as high as $28 today.

Is my option chart wrong about that .50 premium yesterday?
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$28 vs. .50 is a "Mars and Venus" difference. I'd say the .50 is a bad quote.
 
much ignorance here a usual. doesn't anyone ever check their bs?

50 cents is right. it was 5% out of the money and I believe it was a WARN not a scheduled earn.

And forget your pipe dreams, none of you is ever gonna have one like that unless you are prepared to buy 100 that go out at zero.

Finale-A-Pipe-Dream-and-A-Promise_12.jpg
 
Quote from stock777:

50 cents is right. it was 5% out of the money and I believe it was a WARN not a scheduled earn.
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Thanks, that makes sense. I thought they had an earnings call and guided down. The .50 premium makes a lot more sense now.
 
Quote from NoDoji:

What I found interesting was my chart of the options shows $100 puts going for around .50 yesterday. I would've thought the pre-earnings vola on a high flyer like that would've commanded more premium. Put sellers were left holding their own body bag; $100 puts as high as $28 today.

Is my option chart wrong about that .50 premium yesterday?
More...

looks like a classic case of complacency, wish this stock was on my radar. But this is still nuts, the stock has a last trade of $70 on my screen, that's a 30%+ drop.....
 
Quote from newguy05:

looks like a classic case of complacency, wish this stock was on my radar. But this is still nuts, the stock has a last trade of $70 on my screen, that's a 30%+ drop.....
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When I first started trading, I would often search for stocks that had fallen badly over period of time to buy calls and high flyers (like this one) to buy puts. It was a good strategy and I had a couple home runs, but nothing like this one!
 
There was a guy who traded for a living in the option pits in the 1980s that would buy out of the money options, and finance them with butterflies. He made over $100 million in the crash of 1987.
 
Quote from Catalite:

There was a guy who traded for a living in the option pits in the 1980s that would buy out of the money options, and finance them with butterflies. He made over $100 million in the crash of 1987.
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long the atm flies and otm strangle? i dont see how he can do this consistently to breakeven or make money each month waiting for that crash.
 
OK, I spent 30 minutes looking for the guy's name on google and it eludes me. I read an interview somewhere, maybe a major business journal or maybe one of the market wizard books.
 
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