And, what do you see as being the catalyst for the move to $1000 and lower?
Hey idiot, even if PCLN drops to $760, it it not worthless...it would be worth $760. Your posts add NOTHING of value to this board. You are just another internet troll which I have added to my ignore list. Oh, and by the way, you might want to learn to spell.
Well, if it keeps climbing, how can it be worthless?
Why would you sell 15 contracts when you expect the price of PCLN to tank. If the underlying finishes ITM (below 1322.25) you will be out some serious cash even if you close the position prior to expiration. And, if you don't close the position and it expires ITM, you will likely be assigned and have to deliver 1500 shares of PCLN (about $1.09M worth of stock value) to the options holder. What am I missing in your strategy?
Interesting, my PCLN options chain with an expiry of April 15th does not show a $1322.25 strike price only 1320, 1322.50, 1325, etc.
He has probably never held a position (long or short) in Priceline and probably never will. He is like so many others that post on these stock message boards. They never own the stock but like to make predictions and bash stocks they can't afford to buy.