Hi, all.
On March 30th, the S&P 500 went down 0.3%. I realize this is only a slight decline -- don't get me wrong -- but I was amazed by the number of ITM puts that also declined in value, some enormously.
\-1- Can someone please tell me how/why certain ones (shown in the attached screen grab) saw huge gains and others saw steep declines, even though the strike prices were really similar/overlapping? (*price performance is shown in the fourth column from the right*). With SPY at 632, anything with a 646 strike or lower declined in value. But even still, the 651 fared quite a bit worse than the 649 or 650 -- why?
\-2- Furthermore, what is the "key" to identifying these potential bigger winners in advance?
Thank you.
https://preview.redd.it/g09nb0fk5bsg1.png?width=1510&format=png&auto=webp&s=3287e39830cbdb6d4ad2b9187e050db12dd21983