alt Hacker NewsAnd puts are highly manipulated by MMs so you have to really study the chain and how it behaves before you have a chance to buy the contracts at a fair price. MMs will flood the market with contracts and devalue yours even when the price is moving in your direction. I highly suggest people think twice about trading options, they are best used as hedges for large positions during particularly vulnerable periods.
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It would be more helpful to say don't buy options once the trade is obvious. As soon as something has hit the FOMO phase and IV skyrockets and all strikes cost the same, that's a sign you're too late and might want to bet against your thesis or use a different instrument. The financial shoggoths do a reasonably good job ensuring there's no free money. However they're obligated to trade regardless of conditions and sometimes that's their weakness.
Are you accusing market makers of manipulation?
I’m not convinced. If you think you know what the fair price is for a put, then you can bid that price. If you don’t think you know what the fair price is, then you shouldn’t be trading options.
There are reasons for not trading options, but the main reason is “you know less about price movement than you think you do”.