Have you sold those put options by now? Looks like the Fed and Treasury 6 trillion stimulation package boosted the market a lot. I had similar put position which dropped significantly during the past 2 days of Market rally. Do you think it is still good to hold the put options?
I did sell some of the puts, but not enough of them and not near enough to the bottom to not leave regrets. I definitely underestimated how fast and strong the monetary and fiscal responses were, and paid too much attention to epidemiological discussions relative to developments on those policy fronts. (The general lesson here seems to be that governments can learn to react fast on something they have direct experience with, e.g., Asian countries with SARS, the US with the 2008 financial crisis.) I sold 1⁄3 of remaining puts this morning at a big loss (relative to paper profits at the market bottom) and am holding the rest since it seems like the market has priced in the policy response but is being too optimistic about the epidemiology. The main reason I sold this morning is that the Fed might just “print” as much money as needed to keep the market at its current level, no matter how bad the real economy gets.
Have you sold those put options by now? Looks like the Fed and Treasury 6 trillion stimulation package boosted the market a lot. I had similar put position which dropped significantly during the past 2 days of Market rally. Do you think it is still good to hold the put options?
I did sell some of the puts, but not enough of them and not near enough to the bottom to not leave regrets. I definitely underestimated how fast and strong the monetary and fiscal responses were, and paid too much attention to epidemiological discussions relative to developments on those policy fronts. (The general lesson here seems to be that governments can learn to react fast on something they have direct experience with, e.g., Asian countries with SARS, the US with the 2008 financial crisis.) I sold 1⁄3 of remaining puts this morning at a big loss (relative to paper profits at the market bottom) and am holding the rest since it seems like the market has priced in the policy response but is being too optimistic about the epidemiology. The main reason I sold this morning is that the Fed might just “print” as much money as needed to keep the market at its current level, no matter how bad the real economy gets.