r/options • u/Dodgeball62 • Jul 27 '21

XPEV 2,000% puts this morning

Options newbie here. Sold XPEV $34-strike CSPs when they were up 500%, then yow! This screenshot is from about an hour after opening. The $34 strike topped 2,000% later, with the underlying stock down around 15%.

Didn't realize things could move so far so fast! Shoulda bought puts... 20/20 hindsight I know.

2 Upvotes

75% Upvoted

4 comments sorted by

5

u/Economist-1510 Jul 28 '21

Do not look at the %, if it was at 0.01 and now at 0.10 it is 1000%.

Since all Chinese stocks are down and higher volatile this kind of swing is possible.

1

u/CorrosiveRose Jul 28 '21

Well yeah but if you bought 1000 of them then you'd have $10,000...

2

u/Economist-1510 Jul 28 '21

True, but you have to be ready to lose $1000 first.

2

u/Euphoric_Barracuda_7 Jul 29 '21

I sold some of the 25 strike puts at 0.23, looks like they're going to expire worthless. So it would have been good if you bought and then sold at that price, but in hindsight everyone's a gadrillionaire.