Author describes trading $CAR puts during the short squeeze, buying $180 June puts, selling at a profit, and rebuying 3 contracts, acknowledging the trade is risky.
CAR — SHORT The author bought 5 $180 June puts on Avis Budget at $800 each, reasoning that the short squeeze with RSI around 97 would run out of gas and the stock could drop 50%, potentially overcoming IV crush. He sold all 5 at $1,200 during a wide bid-ask episode, then rebought 3 of the same puts at $800 after a 10% pullback. He explicitly acknowledges he is playing with fire, which is his stated risk.
I bought 5, $180 puts with a June expiration for $800 each. My thinking is that when the squeeze runs out of gas it could easily drop 50%.
This Reddit post, published April 21, 2026, features u/squidippy discussing CAR. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: u/squidippy · Tickers: CAR