### Comment:
So what? Still make money

### REPLY:
Not if your calls expire worthless. The market is probably going to drop 50% in 2019, and if that happens then it is unlikely that the market will recover completely in 2020 and go up enough to make any money on calls. I have 2020/2021 puts right now, when I feel like we are at the bottom of the market in late 2019 or 2020, then I will switch to long term calls. But those calls will be much cheaper if the S&amp;P is at $1,200.

### END.