Elon's data scientist reported estimated bot count to be 5% to 11%, but he allegedly hid this data

s ong : hi @doctorpot1could you explain to me why you buy and sell put at the same strike price and expiry? I am a little confused how it works as I am still learning. many thanks

doctorpot1 OP s ong : I first sold 2x PUT option with the strike of $25 for $205 per contract. Which means the buyer of the option can force me to buy 2x100 Twitter shares at $25 per share, but the buyer paid me 2x$205 in premium.

when the price drop to $170 a contract, I "bought back" the contract I sold for $170 each. This way the position is closed. meaning the buyer now cannot force me to buy 2x100 Twitter shares at $25 per share anymore.

Then when the price of the same contract goes back up to $210, I sold 2 more contracts again. which means the buyer of the option can force me to buy 2x100 Twitter shares at $25 per share, but the buyer paid me 2x$210 in premium.

then again when the price drop to $160 a contract, I "bought back" the contract I sold for $160 each. This way the position is closed. meaning the buyer now cannot force me to buy 2x100 Twitter shares at $25 per share anymore.

so currently, I'm not holding any position anymore, but I want to sell the contract again when the price goes back up to $200 a contract.

Why did I choose this PUT instead? here is a post with more detailed explaination on why I choose this instead of buying CALL option or the shares.
doctorpot1 :Lawyer's take on the Twitter v Elon Musk case, and strategies to take position
https://www.moomoo.com/community/feed/108679962361862?data_ticket=5b3500b278c1b7aa4a176e85285988a1&content_type=feeddetail

s ong doctorpot1 OP : wow. thank you very much for such detail explanation. it is very informative and I learned it

doctorpot1 OP s ong : no problem there are some options chat room now in moo moo. you can search option then choose groups and join them, we answer questions and discuss about options there so can learn from many many people