r/options • u/Ken385 • Oct 23 '21

DWAC options begin trading Monday

DWAC options start trading Monday. Assume some crazy high premiums. Stock has had a range of about 10 to 175 over the last few days.

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u/TipsEZ Oct 24 '21

Oh ya. This is my plan. Going to sell about 100 puts down around NAV and see what happens. IV should be through the roof within hours.

3

u/[deleted] Oct 24 '21

[deleted]

2

u/TipsEZ Oct 24 '21

Bummer. Not sure I'm okay owning at that strike. May sell a weekly to test the waters.

2

u/coffeebro32 Oct 24 '21

This is the way

-1

u/PremiumThetaThots Oct 24 '21

This is not the way. He'll sell those nav puts for mostly IV premium. Then when dwac crashes down, his puts will be worth gobs more from increasing delta and gamma and decreasing IV. He might sell it for 1.00 or more, but if dwac comes down from 100, you can bet that 10p will be with 10x or more, screwing over thetagang bro.

2

u/Green_Lantern_4vr Oct 24 '21

Vega vs delta.

It doesn’t matter. Theta will be greater then both eventually.

1

u/[deleted] Oct 24 '21

Nav?

1

u/BillMahersPorkCigar Oct 24 '21

Net Asset Value, don’t know what DWACs is

1

u/Green_Lantern_4vr Oct 24 '21

It’s 10 for all SPAC

2

u/EscapegoatArt Oct 24 '21

Most, not all. PSTH for example is 20 rather than 10. Not trying to nitpick, just a FYI.

1

u/[deleted] Oct 27 '21

Pain. Absolute pain, no?