I have some options that expire tomorrow April 25 calls...yea...I know ouch.
They were worth zero, now I can recoup about 7%, if I sell right now.
My question is, can I actually sell tomorrow. Or must I sell today?
Pretty sure that even if it was 100 options he would of been able to sell it for .30 when GME traded at 25.55 range. most funds would of bought those options, gotten the shares and sold them all in a matter of milli-seconds. That large of of a gap in price is pounced on by by the super computer traders.
Also if you guys notice we are already at 3 mil in volume. Also European markets are usually done as far as Americans are concerned by 11-12 for the last couple of weeks. It is also possible that we could close below 25 today due to expiry. Hedge funds don't like to lose and they got the cash to hit GME in the head with a bat for a day or two
Generally it's never a good idea to hold until expiration anyways unless you're deep in the money. Most of the options that are about to expire are bought up by the big institutions who have much smaller transaction costs than the average retail investor.
You can trade these tomorrow. I would hold on to those. you might hit a 9th inning home-run!20 cents off that today. If we keep it up. We have only had 2 or 3 down days in a month. Theta is huge on this option so don't be suprised if they never trade over 10 cents. But if you can get that back you can put it back in to more longer term calls.
Note to all: Front month contracts will eat you alive!!!!!!! unless its a leg, never trade a naked front month!!!!!!!!!!!