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I'm not sure what doesn't make sense ( cents). Maybe they bought insurance ( your put)or it was part of a multi legged strategy. You have a couple of options. You can immediately sell it, you can wait for a little recovery then sell it, or you can keep it. One of my criteria when selling put options is to make sure it has a 75% chance or better of expiring worthless. And it works out about 25% of the time I am " put " the stock. I usually wait a few days, the stock recovers, I sell it for a little profit. Granted this has been an up market. Anyway my annualized is about 20%, and I am pretty happy with that.Also I trade in an IRA account so taxes are deferred. There are downside protections for put options as well. Happy Hunting
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