Thinking about buying SPY calls

[Libertarian666]

If chloroquine is an effective treatment, as a number of stories from the last 24 hours indicate, the stock market is going to come roaring back.

I'm considering plunking down a few grand to buy April 17th SPY 300 calls at about $1. Any comments?

[dualstow]

Not a bad strategy. Limited downside.

I have permission to trade options but have never done it. I just want to keep buying stocks.

[Cortopassi]

I was burned so many times in the past with options, I don't touch them anymore.

What about one of those double or triple levered ETFs for a short period?

[pmward]

Options are so pricey with the volatility this high. If you want a levered bet, the newish S&P 500 micro e-mini futures contract would be a better deal.

[Libertarian666]

Options are so pricey with the volatility this high. If you want a levered bet, the newish S&P 500 micro e-mini futures contract would be a better deal.

I only want leverage on the upside, not on the downside.
That means options.

[pmward]

Options are so pricey with the volatility this high. If you want a levered bet, the newish S&P 500 micro e-mini futures contract would be a better deal.

I only want leverage on the upside, not on the downside.
That means options.

You're going to pay a pretty penny for that, options premiums are outrageous right now. A futures contract with a stop-loss effectively does the same thing for cheaper.

[Cortopassi]

Options are so pricey with the volatility this high. If you want a levered bet, the newish S&P 500 micro e-mini futures contract would be a better deal.

I only want leverage on the upside, not on the downside.
That means options.

Willing to buy the underlying? With the premiums so high, how about selling some puts?

[Libertarian666]

Options are so pricey with the volatility this high. If you want a levered bet, the newish S&P 500 micro e-mini futures contract would be a better deal.

I only want leverage on the upside, not on the downside.
That means options.

You're going to pay a pretty penny for that, options premiums are outrageous right now. A futures contract with a stop-loss effectively does the same thing for cheaper.

Unless it opens limit down.