one last time, in fact i can send you a video or audio. some very smart people have been with this drug for many years now . we made some good money and bought shares pre split and post split. we then sold a lot of our shares at 39 and 40 and even smarter guys and gals did it over 40. we then did a thing called...... wait for it..... rebuy of shares. i in fact bought again at 23. was that to fast for you.... i know that you buying your puts,lol, is the only thing you understand but people do have ways of adapting to price changes... now i wont even charge you for that free advice but it is common sense that a lot of people have. your welcome in advance
When SRPT hit the $40s, $30 November PUTS were $0.50 on the ASK. When SRPT bottomed out at $21.10 (or so), those PUTS were worth $9.20 (or so) on the BID ... 18 to 1, even with the gawdy BID/ASK percentage spread.
Noone can perfectly time the market, but that's enough gain to be able to hit 10 or 12 to 1 with decent timing, hedging, etc.
Holy played the puts almost all the way down with day-trading (and, from what I was gathering by going with ITM puts to mitigate risk) so he was hedging in a certain way, but he made a LOT of money (both on an absolute ratio and on a time-basis). I guess he should try not to be such an idiot next time.
To DM68: Your analysis that Holywallst bought puts in the 40s and sold at 21.10 is idiotic. He bought and sold more than once. He made some money some days. He lost some money some days. Overall he is underwater. If not then he was lying when he said he was shorting in the teens. What you completely overlook is that he originally shorted in the teens and has been determined to break even ever since. The only persons making serious money in this stock are buying and holding. For those who bought in the 40s even that price will look good again. but most of them sold in a panic when the price dropped. If they were smart they learned enough about this stock to reload at lower prices
dm im sure your a nice guy. i was replying to holys post insulting longs calling them names. but you didnt mention if holy shorted the stock at 14 and it went to 45 what he did. instead you give the allusion like all shorts that they pick the top and bottom perfectly. we aint buying it. i can tell you with all honesty that i bought this stock at 1 dollar and .79 cents presplit and doubled twice before this runup and made alot more. thats with house money over the last 4 years.