OptionsPortal

ARCH up 100%+ (option price) before May 20th

Long
NYSE:ARCH   Arch Resources, Inc
Heavily shorted and increasing short float.
Lower market cap for an optionable asset.
Before May 20th, we could see an increase of at least 100% (ATM option price) as some shorts cover.
Using options so time is the only SL.
Comment: 100% target has been reached
Would normally sell half position to recoup initial capital invested but price action is strong
Small pullback is expected before final run up
Comment: Not a fan of purchasing higher but position has been doubled @165 strike
Expecting price to start moving quickly to the upside in less than a week
Comment: Should've taken break even
Will take a new position either @$93 or on May 20th
Comment: Due to macro envirnoment, half position has been sold for a small profit
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