[bsanr2]

I dropped ~$1000 of my last savings into options earlier this year because "DIS is going to print." Actually, it's because I was unemployed and staring down the barrel of a rent payment that that money would not be able to cover. I figure I lose the money and not make rent, just as if I'd done nothing, or it makes the money back and then some, and I'm able to cover another month. If I'd sold about a week into holding, I'd have made ~50%. Then our Fed Chairman made the totally sane and not completely unprecedented decision to pump $2 trillion dollars into the economy. The underlying stock shot up and my options values evaporated overnight, amidst the issuing corporation announcing that all of its revenue streams would be effectively dead for the foreseeable future.

Just sensible market behavior.

[tasuki]

I think the second half of your comment is sarcastic but also... entirely correct?

[bsanr2]

Well, no. The bailout was unprecedented in size, it was completely insane (in that it clinches the imminent and extremely messy doom of either the American middle or investor class, depending on whether populist fear or populist rage prevails), and there is zero percent chance that the coming maelstrom is "priced in."

Most Americans have been so fully shut out of capital that they're practically begging for asset values to get rocked. They'll encourage it, even. (What do you think this lockdown backlash is, unconsciously?)

All of Disney's revenue streams shut down for 3 months and its stock went up. The market needs to be reflective of conditions and not simply the desperation to never see a bubble corrected, or people are going to start calling the bluff.