Considering the terrible earnings, regulatory pressure, and subsequent price drop across crypto assets, I am placing a 33/32 bear put on RIOT expiring 12/17. I am using the resistance line as a stop loss indicator, as anything can happen with Bitcoin. I place the trade after the second retest of 60,000, it bounced a little higher since but I expect continued downward pressure and declining volume across crypto in the short term as fall has been a historically slow season for crypto.
@bestoch, I am in a 33/32 bear put so that is fully ITM as of today, I would say going long with a tight stop around $25 depending on where Bitcoin is at might be a good idea, but I think that regulatory pressure around crypto, and the companies fundamentals will drive the price lower over time.