Why the whining and howling is so loud here today.
Those May 60 and 57.50 puts which were so popular yesterday have lost almost all of their value. The May60, which was selling for $3.00 yesterday, is now bid at 35 cents. The even more pessimistic May57.50, which was bringing $1.90 yesterday, is presently bid at a penny. Yes, by investing only $3 a share, you can lose almost as much money as if you'd shorted the actual stock. Leverage is a wonderful thing.