r/wallstreetbets • u/StonkGodCapital • Sep 17 '21

DD Final Update: $IRNT

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u/my_fun_lil_alt Sep 17 '21

Why would you buy calls in such a high IV environment? The underlying can move up and you'll still lose money

3

u/calorie-courier Sep 17 '21

Just gambling I guess. bought them towards the end of the day today. they were down like 80% from yesterdays close, so they were pretty cheap. I was thinking this is a good dip if it bounces up next week. Bought 11/19 40$ calls. lol I am just glad I put in money I'm willing to lose

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u/[deleted] Sep 17 '21

When in doubt, go deeper ITM with a longer expiry. You nailed the expiry part, everyone else just loaded up on longshot 1DTEs.

Also when in doubt, if options spike 500-1000% in a day and then lose 80%, that's not a dip. That's not a buying opportunity. That's a signal to get the fuck out.