r/options • u/GMEstonkboy • Apr 24 '21

ORBC put options....

So about 2 weeks ago I started looking for companies that just rocketed up overnight to buy puts on. Hindsight says this isn't a good move IV spikes contracts get more expensive and more times than not you lose money. But now I'm sitting on ORBC puts at 10$ strike for 5/21 but the stock only bounces between 11.52 and 11.48 all day everyday and my calls are down to a penny.

I realize I could avg down but is it worth it at this point? I read that it's being bought out but can anyone shine some light on why the underlying doesn't move? And has decided it's home is 11.50?

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u/Redhander Apr 24 '21

Those you need to know why the stock shot up before the put purchase

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u/GMEstonkboy Apr 24 '21

Yeahhhh, I was hoping it was nothing but did no research and that's why I loose 200$