So here’s a chap from /wsb who pushed all his chips forward into a bet (and, yes, it’s a bet) that UPST, which reported earnings after Tuesday’s close, would plunge. Over $80,000 in puts on UPST at a strike of $125, and they expire 9/17.
Well, the stock did, in fact, make a very big move. However……….
So with the stock trading at about $160, a full $35 out of the money, I’d say this guy is probably going to lose about his entire “bet”. Once he realized the disaster before him, though, his response was……….