Huge losses buying puts with no hedge of calls or stock. Huge climb all day and gap up the next day. 90% loss that was only lessened by a major panic later. Reduced losses to 50-70% Call/Put spread is the way I must approach hugely volatile price action with options. Very demoralizing to lose half og last year's gains in a couple days. Back to basics: cut losses quickly, and don't add to a losing trade.