And Don't I know it. I pulled the trigger on the first NetFlix crash and had the 330 strike pegged as a fire-sale bargain for shorting PUTs. Dohhhhh!Imagine you bought FB at 375 a few months ago.
Now it is at 174 ie a massive 60% drop in price!!!
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On second thought, maybe I'll just roll it to Oct or Dec and re-evaluate. Will probably have to eat-up wash-sales, so maybe I'll leave a 30-day gap in January so I can realize losses this year.