VIX down 20% but all put options decreased... Why?

Y

yakyakgoose

I'm admittedly new to options and knowing so did a small 1k purchase of put options with a strike price at 15 expiring January 17th. I was advised to avoid purchasing way out of the money options or options that were set to expire soon due to decay.

This morning I wake up and see the VIX is down 20% and go to close my puts and to my surprise Im down 6%. Out of curiosity I look at all VIX options and it looks like all puts AND calls across all expirations are down.

Can someone explain to me what Im missing here?
 
LOL, when I was first starting out few years ago in options trading other than hedging which is different, I saw this exactly where all the calls were cheaply priced near the close, so I bought like 50 of something thinking it was a discount, I must of have been the only idiot buying. Next day stock gapped down 5 bucks, but what I don't get and yet I know if happens, earnings came out after the close and was way off expected. Someone knew something and I was not on their happy list to let me know. I have since noticed this every so often.
 
yakyakgoose said:
I'm admittedly new to options and knowing so did a small 1k purchase of put options with a strike price at 15 expiring January 17th. I was advised to avoid purchasing way out of the money options or options that were set to expire soon due to decay.

This morning I wake up and see the VIX is down 20% and go to close my puts and to my surprise Im down 6%. Out of curiosity I look at all VIX options and it looks like all puts AND calls across all expirations are down.

Can someone explain to me what Im missing here?
More...

"Buy the rumor, sell the news".
 
If you traded SPY or Futures options , you could have locked in gains during the ridiculous carnage caused by Democrats selling all their holdings.
 
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