### Comment:
When you buy puts or calls you only risk the premium you pay. So if you buy a $200 put your max loss is $200 (100%) . You can lose more than 100% if you sell options or short stocks.

### REPLY:
Thanks for the reply. Not sure if you’re using Robinhood, but if I just wanted to buy one $34 (break even $33.37) put expiring 2/15, the max cost  comes to $63.  
  
 Do I have to wait for it to expire on 2/15, or can I sell if it goes below the break even before expiration date?  
  
 Thanks again. I’ve been a lurker here for a while and want to start slow (not really the WSB way lol)

### END.