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Started By
Message
re: DWAC - Trump backed media SPAC
Posted on 4/6/22 at 2:50 pm to Big Scrub TX
Posted on 4/6/22 at 2:50 pm to Big Scrub TX
quote:I posted that on Feb 16.
The DWAC Jan 130 puts are trading for 103.
How can any sane person be long this name?
Since then:
the stock is down almost 45%
Those puts still show up on my screen as marked at 103.
1
Posted on 4/6/22 at 5:04 pm to Big Scrub TX
You’re looking at the Jan 2023 130 puts? I have them at 107.10 bid/110.25 ask.
The deeper an option is in the money, the more it trades like the stock. With the stock around 47.50, you’ve got $82.50 in intrinsic value. The IV is incredibly high at 170% and there’s a fair amount of time value still in it. So that pretty much makes up the balance of the option price.
Did you say that you bought that option? If so, congrats on a winning trade.
The deeper an option is in the money, the more it trades like the stock. With the stock around 47.50, you’ve got $82.50 in intrinsic value. The IV is incredibly high at 170% and there’s a fair amount of time value still in it. So that pretty much makes up the balance of the option price.
Did you say that you bought that option? If so, congrats on a winning trade.
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