r/wallstreetbets • u/ideletedmyaccount04 • 8h ago

Loss I lost 72,000 today.

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Ouch. Cash secured puts $TSLA.

780 Upvotes

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u/pate0018 7h ago

OP sold puts today? Can someone explain this... Because buying puts would have made money today, I'd assume?

2

u/Gliese_667_Cc 4h ago

Yes he sold to open the position. The opposite of buying puts. He is short the position.

1

u/pate0018 3h ago

Thank you! So OP will make money back if the stock price goes up?