Either this short squeeze goes parabolic, or it collapses into nothing. Not sure which way so I did a $11 Feb straddle because either way it's not going to stay here. I'm thinking either $20 or $7... I need to hit $13.1 or $8.9 t win....
I must be real bored to play with this one....
I must be real bored to play with this one....
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They're Feb options, so I got an entire month to watch it do something, lol.Note
$12 would work as well, but I'm sorta bullish on the short squeeze. It's all about the squeeze on this, not fundamentals.Note
Some of us are old enough to remember this thing trading at $150 ($450 before last split).it's the dot com bubble all over again, lol.
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If you're not in already you need to do a $12 straddle. A hole month t watch this thing take off or tank, it's worth the money just to watch, even if you only do one contract each (I'm in for 10 each).Note
On stuff like this, it makes sense to use options so you don't screw yourself. Another choice is put protected stock. Otherwise you could get whipsawed pretty bad....Some of my followers have asked me how you trade stuff like TSLA... I don't day trade 'cause I suck at it. This is easier, and you just sit back and watch.
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If I only had calls, I probably would have dumped on the afternoon dip...That's why a hedged position makes sense on something like this. There's no chart read for when a short squeeze ends.
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What's really funny about this is that options premium is $1.30 for an entire month (Feb $12) when this thing moves $1 per day, which is why I said this is a better play than TSLA or BYND.Note
It dawned on me why the end of day action was so weird, options expiration. Funny hw it finished a few pennies over $12 to wipe out all the $12 puts and stick the shares on people holding $12 calls.Pretty typical for a stock with high options interest to settle at an options break point at expiration. MU does that a lot.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.