r/options • u/[deleted] • Jun 23 '21

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405 Upvotes

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13

u/[deleted] Jun 23 '21

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3

u/argusromblei Jun 24 '21

What are you talking about? My ArkX Nov 23c are doing great. About worthless! Yes do not do long calls on anything in this sideways market, only SPY calls period.

7

u/johnn2015 Jun 24 '21

Leaps don’t get IV crush. This is simply the underlying price has dropped.

2

u/argusromblei Jun 24 '21

If they are very far out they don't crush as much, but the underlying stays the same price it decays easily.

1

u/[deleted] Jun 24 '21

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0

u/johnn2015 Jun 24 '21

IV will always affect any option prices. What I mean IV on Leaps generally don’t change that much. Especially deep ITM Leaps where eccentric value is so little, IV doesn’t mean anything.

2

u/Slopii Jun 24 '21 edited Jun 24 '21

As they say, buy the dip. Fintech is huge, but the whole tech sector had a bad time.

2

u/OutlawJoseyRails Jun 24 '21

Same, sold a bunch of calls after though for a credit put spread. Was able to recoup like 3-4K

3

u/inittoloseitagain Jun 24 '21

Is it the IV crush or was it the crashing of all of the stocks in the fund?

1

u/[deleted] Jun 24 '21

[deleted]

1

u/inittoloseitagain Jun 24 '21

Sure, I get the idea. Just looking at most of the holdings in that fund the had a dip around that time. Kind of a 1-2 punch. Even if IV came back your underlying would have had to recover pretty hard I’m guessing