Here is a chart to put on your radar over next 2-3 days.
. if you are new to options ...do this on a demo trader to get a feel how options work....
a july $20 strike put is $4.50 per contract ....with a .91 Delta...
two $450 contracts or $900 and are..( equilivent value) to 182 shares of SEPR @ $2900 .....if the entry is at SEPR $16.00 the contract will cost less...a move from $16.00 down to $14.50 will net approx 150 points x 182 shares =about $250 return...the trade looks like a 4-5 day hold for next week...this option has low open interest and daily volume so it may take a few hours to exit at a limit price ......never place orders at market....they will skin you.
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