- At that moment the 450's you bought for $3.6 were $5.2 = 44%

So yes, your far OTM puts moved 10% more, but in terms of options with such a high leverage I would call that negligible.

There are other things to account for when trading options. For example, those Jun 450s only traded 20 contracts today. If someone wanted to sell 30 of them, they very likely would have had to trim the ask down by some amount.

Furthermore, if you look at the trading today of the Jun 450s, you will see the following trades took place throughout the day:

5 $3.85
4 $4.60
4 $4.93
2 $5.00
4 $5.15
1 $4.03

Just because the ask was $5.20 doesn't mean any traded at that price, and indeed none traded at that price. And in fact, when the ask was $5.20, that trade of 3 contracts for $5.15 took place. And the highest bid of good size that I can see was $4.90, so someone selling 30 contracts would definitely have gotten at least $4.90, possible $4.95 if that bidder really wanted them. Call it $4.95, that would be 3.60 to 4.95, or a 37.5% gain. Excellent gain for a single day!

Berkshire Hathaway FAQ

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