Option prices on GME are wild---

Mind explaining what all that means? Thx

The bid/ask on options are very far apart on the ones I've looked at. The volume seems low.

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These two puts can't be right. Look at that return (green ones).

This is for 2/09 puts.

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Depends when they were bought and what the stock price was at that time. Or wait, maybe I'm misreading what that's showing.

I think an order consists of 100 puts.

Right after the close, I constructed a low delta OTM short put trade on GME. Very high probability of max profit, very low risk. But with the first hint of my brokerage firm showing hesitation or not being able to execute the trade, like what happened this week when my 7 delta short put trade was rejected ( ), I’ll be forced to leave my beloved Think or Swim platform behind and find a place that doesn’t play games with my money or act like a nanny.

When I was a younger feller, 99% of the drama in my life came from things that either wore skirts or wheels. Now 99% of the drama comes from high IV.

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. I see $100 puts still trading at like 35 cents today---the day of expiration. Big volumes of them. The stock would have to fall $250 this afternoon to make those puts worth anything.

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Maybe I am misreading your post, but I think you're confusing an option going in the money and being profitable.

Six minutes after you posted, the GME 29Jan 100 puts traded in a range of 30¢-40¢. Let's say you purchased 10 contracts at 35¢, your cost would be $350 plus fees with GME trading at $323. Thirteen minutes later at 12:36 central, those puts traded as high as 75¢ with the stock at $275, then the options dipped down and then spiked to 79¢ at 12:53 central with GME at $277.

If you were able to get 70¢ for those puts which it traded above twice in the two examples, the puts doubled and GME was at least $175 away from the $100 strike price. So your profit would've been $350 or 100% gain in 13 minutes. You don't need a stock to go through the strike price to break even.

When you posted, GME was at $326.00. If the stock fell $250, then GME would be at $76, those puts would be worth at least $24.00, so those 10 contracts would be worth $24,000.

I had some GME 12Feb 30 puts that I picked up late Tuesday and forgot to close them. The next morning the stock was more than 100% higher and I was able to close the puts for a small 15% gain. Your puts are supposed to fall in value as the stock rises. The implied vol was /is so jacked, that I was able to have a profitable trade on an option that was $280 away from the strike price.

Why would puts that far out of the money be worth anything the day of expiration? All unsettled today are expired and worthless now.

If you paid $350 for ten of them you might as well had thrown the money out the window.

What were the traders thinking? The options had lives of hours or even minutes.

If you are buying a put you are not committing to anything. You are acquiring the option of selling at the strike price of the option.

If you are selling a put you are committing to sell at the strike price should the holder of the put elect to exercise their option at anytime prior to the expiration time.

Just the opposite for calls which are options to buy.

Each option is for 100 shares.