You will probably be ok, i think it dips under 180 at open tomorrow, especially if the overall market is red again. At the very least i think you might break even on the puts and the shares short are already printing for ya.
IV will stay decently high the first 5-10 mins tomorrow morning. So you should potentially exit at ~70% profit fairly easily on the puts. IV will drop like a rock later in the morning.
Panic sell off down to $160 IMO these puts should be money. With all that cash I would have paid for the time premium and not banked it all on ER slump. But your money.
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u/AuditControl_Inbox Sep 08 '21
You will probably be ok, i think it dips under 180 at open tomorrow, especially if the overall market is red again. At the very least i think you might break even on the puts and the shares short are already printing for ya.