Ok, so let's talk numbers big guy: When exactly did you put your puts in HYG on? Expiry? Strike?
My China Thesis Entitled... The Biggest Lie Ever Told
- Thread starter Stockolio
- Start date
145K in PUTs
Ill be over 500k by October or before, even if I pull out fast, then blast all of it in HYG Calls around the time Powell drops Interest rates to 0
We'll make a thread, screen shots of our accounts, you and mickey the clown talk big, when it's time to see who was right in going bullish or bearish, we will see who understands what better
What expiration and strike?
More importantly, why HYG and not one of the IG credit ETFs? With HYG puts, you are implicitly paying carry (which includes the credit spread) and then the vol that's pretty expensive.
Morbid curiosity
if you are fully in the position, you should be happy to disclose even to someone like myself - other people piling on is good for you.Are you sure about the 60 strike? The open interest is 4 contracts, it appears
I don't care how much you paid in total premium, that's between you and God
I was merely interested in strikes and maturities as an indication of what your expected timing is and how bad you expect it to be. Never mind, of course, sorry I even asked.As an aside, apparently you do have a strong conviction for this trade. If I recall correctly, this premium represents a meaningful fraction of your account.