### Comment:
Prior to earnings, IV (implies volatility) rises significantly and the premium cost for options goes up a lot. If the move after ER is not large, the premium drops a lot because there’s nothing in the immediate future that should cause the price to move a lot. If $14.50 puts for 11/22 were $0.50 each, that means the stock would need to move below $14 for you to break even. That didn’t happen, obviously.

### REPLY:
Thanks

### END.