$Unitedhealth(UNH.US) Some advice for newbie investors: the best use of put options is to protect the underlying stock and hedge risks, not for speculative short selling.

Surviving is much more important than making big money. Stay cautious in the market, and only gradually expand your capabilities after improving your risk perception.

If you want to speculate, you can study the Kelly formula. Most people have limited capital and may not survive until the average converges to the expected value, let alone engage in operations with negative expectations that are bound to lose money in the long run.

Speculation requires strong timing skills. How to judge if you have them? A simple criterion: if you're wondering whether you have them, then you don't 😄