The 300$ mark is an important turning point and will most likely see a lot of contention as it also coincides with the 0.618 fib retrace mark of the entire range since the start of the mania. Looking to go short once again at 300.
Trade closed: target reached:
Immediately after posting this and going short, the price rushed up quickly to 350 and tanked immediately. Closed all short positions at 200$ target
Comment:
Anything options related to this stock is extremely short-term for me as the time decay is an absolute killer. I didn't think it would pan out so quickly but rather closeout sooner with good profit at the risk of missing out on another down leg,
Comment:
Given the velocity of this downturn, I expect it to come back up quickly again to 300$. If it does, I will buy back my contracts for a slightly later date at the same 250 $strikes. Probably end of April.
Comment:
This will probably go flat for the rest of the day. I expect there to be a good chance for a gap up tomorrow to 300-325$ before going back down. Similar to the top in made in the end of January.
