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You better hope the stock moves one way or the other becuase you have paid a huge time premium and the money will go to waste day by day by day.I bought puts and was not happy to have to pay so much.Worst case scenario for you the stock stays around 45 until Jan 18 and the market makers take your money on the long side and the short side, and the brokers get your commission.
Thank you for your advice. But the premium concerns were already in my mind before I bought the straddle. Granted, both puts and calls are expensive. However, this also shows the stock price will be remaing volatile for a while that'll not eat out the premium too much.