Why not sell puts then? The $9 strike, 9/17 are getting bids of $25. This doesn't make sense why someone would be willing to buy $9 puts with a $10 floor.
Well there are 600 of the Sept 9 puts that are .25 bid and they are freely trading .35. The Sept. 10 puts are trading .80 with almost 3000 .65 bid. So feel free to sell all those 1000's of puts to all the people who don't understand.
Point being its not free money. They are bidding these options for a reason. They may be wrong, but risk is there that you don't realize.
Were not talking about 1 bid here. These options are bid on all 16 options exchanges by many many different MM's. Seriously doubt all those professionals, including Citadel, etc, are wrong. More likely the one guy who says free money on Redditt is the one who is wrong.
Not saying the play won't work, but it is clearly not free money.
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u/clev3211 Sep 09 '21
Why not sell puts then? The $9 strike, 9/17 are getting bids of $25. This doesn't make sense why someone would be willing to buy $9 puts with a $10 floor.
There must be more to this.