/biz/ - Business & Finance

Anonymous Wed Mar 11 13:04:36 2020 No.17708779 [View]
File: 11 KB, 250x237, b7c4a2e5-e24f-44a1-b2b4-2f88d2562d12.jpg [View same] [iqdb] [saucenao] [google]

Explain something to me like I'm retarded

Yesterday, a certain stock was worth $17,70. I thought it'd fall to around $16,20, so I bought 600 put options at 0,75 each.
Today, the stock has plummeted. In the morning, while it was worth around $16,50, the options were worth $1,10. Now, the stock is worth $16,10 and the options are $1.
Why is it that the options' price fell? When buying them, should I aim for the lowest reasonable price possible? Why?

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