It’s April 1. If not, we should buy bitcoins
Cramer makes sense. And the last thing I want is competing with Lyft multimillionaires for houses with their Monopoly money. Keep it down. 
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Today is first day for options.Purchased a LYFT Put Strike $70 expiry Jan 17, 2020. Let me see my luck.
Not good. The last time, you lost BIG on SPOT put.
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No wonder you think options are risky. Almost the entire price of the option is time premium. The stock needs to decline by ~20% just to break even.
October $75/$60 put spread would be a lot safer. You can still double your money and the stock only needs to decline a little bit to break even.
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This is what I have issue, unable to properly position/price options !
I try to short, but 44% interest rate, I dropped that idea.
I hate paying time premium, since that’s where all the risk is. That’s why I go deep in the money so time premium is zero. I can get 2.5-3x leverage over just buying the stock. I sell shorter dated OTM covered calls against it.
@Jil is an amateur in option trading. Many nuances he doesn’t understand 
Although is not always true but in general, safer to sell premiums and buy intrinsic.
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That’s exactly why I love to own ITM and sell OTM. Just had a 2 month run with TWLO where I bought $80 Apr calls when it was $110. I was selling OTM against them.
I agree that I do not clearly understand the options/issues, but my thought process is LYFT will touch $50 within lock period 180 days. It if goes to $50, still I have changes to gain $5 (current premium $15, the difference $70 to $50 is $20).
That’s a 33% return. I don’t like the risk reward. You could have bought the $75 and sold the $50 against it. That’s create a pontneial to get $25 at a cost of around $13 depending on when you bought it. You’d also be profitable much sooner. It would only need to drop below $68 to be profitable.
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Tell me expiry date, Jan 17, 2020 for $75? or Sep/Oct (scary for me) $75?
October expiration is after employee lockup ends. That’s what I was evaluating. You can do January but it’s more expensive.
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My main concern is that I should not lose money (safety of my original cash) at the expense of extra premium for Jan 17, 2020. Yes, the profit may not be that great, but downside risk should also be minimum. I wont wait for long time, but will sell at some $750 or above profit.
Citron to the rescue. I actually agree with Citron. Besides the short trade is terribly crowded. Over 40% of float is shorted. A set up for the mother of all short squeeze.
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- CNBC reviewed a copy of this letter, which was signed by Peter Stris of the law firm Stris & Maher, serving as the counsel for Lyft.
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PINS will likely be a success (positive) day one. Below posting from blog (Low list price like IPO)
Pinterest, the social bookmarking platform, on Monday set IPO terms with plans to begin trading late next week on the New York Stock Exchange.
The bottom line: The proposed price range of $15–$17 per share would give Pinterest an initial market cap of around $8.5 billion, were it to price in the middle, and a fully diluted valuation of around $11 billion.
Both are lower than Pinterest’s most recent valuation from private market investors of $12.3 billion.
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