that were all the rage a few weeks ago. Too bad anyone that bought them will lose every penny unless you dump pretty soon. Man am i glad I rode this mania out. My short sell is finally in the black, and I am looking for 23 bucks by year end.
So what is your point? The 40 calls are going to be more or less worthless in a month or so, especially if this thing continues to tank. Can you give me a reason why I should not believe that this junk will be in the mid-20's at time of the call expiration? Even worse for the 40's because their was a time premium most likely, and the more the stock fails to rally, the lower that time premium becomes!
Fortunately I bought a few cheap puts to complement my short position, they are currently out of the money, but at worse, I can sell them for what I bought 'em for, at least for a month or so.