CMG puts went ballistic today post er's. In my earnings video this past weekend I noted the stock looked to be running out of steam, yet there was still the chance the stock would continue its amazing ascent. It was not to be as the stock was taken to the woodshed today down well over 20%. Many put option contracts moved well over 10,000% today. Hmmm... 20% gain or 10,000% gain? Got stock options?
Dude, its, $3200. NOT $32k this is the second video of yours ive wasted time watching and you get it wrong.
Mr. Pinke,
Thanks for watching the video. It is indeed $32k a truly amazing move for CMG puts. As I said in the video had you bought $150 worth of CMG puts on Thursday you would have been able to sell them for over $30,000 on Friday.
Let me make it as simple as I can for you and if you have any further questions feel free to respond.
Buy 10 contracts for $.15 = $150 cost + commission.
Sell 10 contracts for $36.05 = $36,050 + commission.
I know it is tough to grasp those type of gains. They are truly mind boggling and literally, in your case, unbelievable.
There was plenty of volume on those puts on Thursday meaning some traders out there are having an absolutely awesome weekend.
Dude ? his math is based on 10 contracts not 1contract …LOL so the $150 turned into over 30k is REAL not fantasy Gains. UPB shows a simple math, but heres another easy way to calculate (Option $price + always multipy by x100 + multiplied by the # of contracts bought) BTW Good Video UPB ;-P