BNGO is one of my larger holdings. I started collecting far in advance of the break down.
I will be adding at $8.12, to play off the area of value volume shelf.
There is $410k long call bet for August, the majority of the bet is at a $24 strike and $50k is for $10 strike.
In May there are large bets, $350k long calls, for the $14 strike price. My average is far below both.
In May there is also a small long call bet for $5 strike price and in August there is a hedge for puts at around $200k at the $9 strike.
The options can sometimes tell a story and other times be market manipulation or just plain wrong. Either way, I want to be in the range.
I sell calls dated for August or sometimes October. I sell them when the stock is ripping at the 10, 11 or 12 strike and when the stock takes a dip, as it is known to do, I buy them back at half price.
So in addition to holding stock to sell at a profit, in case the stock does not hit, as long as it remains volatile, there is money to make along the way.
better not bitter
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better not bitter
Disclaimer
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.