Septimber is upon us and with NIOs good news coming out on a daily basis, it still keeps going down because the charts will move the way the charts want to move.
I am Bullish long term on NIO but I'm thinking about selling $40 01OCT21 Calls against my shares or shorting NIO on Monday September ( Septimber ) all the way to the end of Septimber. Might get out of the Puts/short a few days prior to delivery date of Oct 1st. I think NIO wants to form a double bottom before it starts the reversal to go to new ATH'S with the chip shortage easing by end of 21 or the beginning of 2022. Time will tell. What do you think?
Buy or cover now. Consolidation is coming to an end. NIO has a gap to fill into the mid $40's that's two weeks past due. The FUD is getting weaker by the minute.