if it was an obvious sell at $5 why didn’t you write calls and...

if it was an obvious sell at $5 why didn’t you write calls and use the premium to buy puts? At the very least buying put warrants is easy enough to do with a normal stock broker account like commsec etc.

My $5 puts were a godsend yesterday, the $4.80s are still deep in the money and will allow a second recycling of my underlying shares if the price stays low. I never understand why people claim it’s a sell but don’t act? Like tipping the Melbourne cup winner every year but never place a bet? Why?

The volatility as expressed in the options market suggests the movement of PLS is quite pronounced in either direction so it makes sense to open positions both long and short as they often will both be profitable in the same time frame. $5 Puts went from 6c to 60c in 2-3 days of a sell signal, if you saw that signal why not profit from it?

Personally I think it’s a long term win so I’m usually long PLS but as it’s so volatile I always buy puts each month as well as sell them to finance calls. Why focus on a stocks movement but not benefit or act on that knowledge?