Surely, you’ll recall the tale of going all-in with RDDT puts from my post this morning. Let’s check in with our hero, shall we? The most recent quote on those options shows they are down about 80%. RDDT is about $9 out of the money with those puts, so he’s lucky there’s a bid at all.
So, did he take his lumps and get out? Nope. His action plan is……….to go to sleep. He’s going to “let it play out.”
The quote above must have been from a brief moment of RDDT weakness, because his position ain’t down 14.69%, I assure you. In any event, these options expire tomorrow, and I think letting this thing play out is going to mean a vastly more manageable account balance to manage going forward.
