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Jul 11, 2022 12:08 PM

DWAC Dead Cat Bounce Short

Description

If Elon Musk doesn`t buy Twitter, that doesn`t mean he`s affiliated with Truth Social.
If you haven bought DWAC they announced the merger:

or short it at $55:


then this rally today seems to me the perfect opportunity to buy $10 puts expiring early 2023.

Not because i don`t believe in the project, but because it`s overvalued at this point.
The market cap should go down.
You can buy most of the SPACs lower than the original price.
I think this will be the case with DWAC too by Jan 2023.

Looking forward to read your opinion about it.
Comments
Azzzz
I recently hopped in right under $20. Merger is likely to go through. but technicals look decent
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