90% of options expire worthless. That's why I'm usually a seller of cash-supported puts on stocks I want to own at a lower price. When fear is expensive, sell it to those ready to buy overpriced insurance.

How I did with GME in 2021:

https://www.datadriveninvestor.com/2021/03/09/how-not-to-be-dumb-money-2/

I go long options with only what I can afford to lose or just with index puts to hedge against a drawdown. I rarely short individual stocks with puts. TSLA is a rare exception. Another was DJT.

And JMK knew more than almost anyone since he nearly went bust shorting post-WWI Reichsmarks.