Rikity

How much further up?

Long
Rikity Updated   
NASDAQ:RIOT   Riot Platforms, Inc.
I pulled in some size, I have no idea where the top is on this. I reduced some size locking in some gains and buying much further out options for the long term. I'm actually considering to sell naked puts at the $35-40 level hoping to get assigned. Would'nt mind at all buying some discount shares at that level. Long term there is some growth here, could a pull back come? One thing that could prevent it is constant news of companies jumping onboard with Bitcoin. If we get major players announcing on a daily basis there is no stopping any of this from going up.

Take some profits off the table here and save some bullets for later. If it pulls back for even 1 or 2 days the break would make the move stronger and build some support underneath the current level. I like this stock
Comment:
One additional thing I meant to include. The level where TSLA bought $1.5b is going to be the only valid support level. I dont know what price level that is at, I'm guessing in the low $30k range or even earlier if they did it and then made the announcement a period of time later
Comment:
Another day and its up a lot more. I keep getting more skittish about this. I sold off my LEAP's and basically I'm doing Back Ratios short and long. Selling the straddle and buying 2 wings somewhere between $5-7 away from the strike twice for a net credit. The only real way to get hurt is if it doesnt move outside of the box, but the way this has been, we wont be having any issues with price action.

My HSA account has shares I bought at $20, not much I can do there but its up so much at this point it would take a major meltdown for me to get hurt badly on that one. How are you guys trading this?

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