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OptionsRising
Apr 25, 2022 5:03 PM

Swing calls for squeeze up - short term trade Long

Cassava Sciences, Inc.NASDAQ

Description

Some options activity has been noted today with IV increasing. There is a bit of short interest on this stock. RSI and stochastic need to move up and this recent dip has consolidated and may lead to a quick bounce.

I bought a few weekly 20 calls with stock under 20. Even a short term rally to the daily 20MA will multiply the options nicely.

Comment

One note of caution - I initially saw 30 May ER date but my broker says today, and I see different dates online.

Trade closed manually

Took profits >100% on this opening move up. Keeping a few to run more with stop and sell targets set.
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