The great scam is in play, the markets today are such a scam, not that they haven't been in the past. Maybe just ironic, maybe coincidence but around 2 weeks ago just before the corona virus scare I saw a news clip that there were an all time high in option contracts bought, don't doubt it with all the new trading platforms like Robin Hood, trade station, so fi trading and on and on promoting option trading! Next thing you know they're dropping the markets like a rock and if you know anything about trading options is that they assign a premium to each contract unless your deep in the money, with the big moves they've increased the premium to the point where it's virtually impossible to make any money unless you buy something deep in the money and even then they are commanding such a huge premium it's ridiculous! I watched several call contracts this morning lose value even though there was a $30+ move in the stock!
Any and all inexperienced option traders have probably lost a ton of cash in the past week and a half!
So is just coincidence that the virus comes along at the same time that there is an all time high in option contracts bought. If you check there are over 55,000 deaths each year from the common flu and they're making a big deal about 3,000 deaths, mostly elderly that have compromised immune systems!
I call it the big scam, just my 2 cents!!
AI
