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Expiration day

today was expiration day in the options market. its the 3rd friday of every month. its my favorite day in every month. Why? Cuz its the riskiest. Options are expiring assets and when its close to expiry, their extrinisic value diminishes exponetially as it gets closer to the closing bell (theta risk).

Anyways, i didnt have any open positions that needed to be closed out or exercised today. I was a day too late. I should have hedged yesterday since chipotle was down close to 8%. The 280 puts gained over 2,000 % in value yesterday alone!

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