Over the past couple days I have been buying Amazon puts. December expiration with $110 strike. I have about 50 of these contracts, and I’m currently down about 6.5k. I did not expect the market to rip up so high over past couple days. I’m really just hoping that Amazon will have a solid red day that I can get out of these contracts.
Unfortunately, I don’t see Amazon falling anymore. Overall, tech is still quite strong. I really regret entering this position, seeing Amazon just go up over a dollar every day based on nothing hurts.
Would you continue to hold these contracts? Or would you cut them loose tomorrow?
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