Analyzing the options chain of ASTL Algoma Steel Group prior to the earnings report this week,
I would consider purchasing the 7.50usd strike price in the money Calls with
an expiration date of 2023-8-18,
for a premium of approximately $0.77.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward...
NASDAQ:ASTL
It formed a bull flag on the 1h chart; I expect a break-out and then hit 9.70$ as a strong resistance level and my first target price, then I expect rejection to 8$ area as my second target price.
In case of a bearish scenario, you can check the chart.
break 9,55 with volume come back successfully test it and its on wards an upwards
some interesting news of them having enough money for share buy backs
There are arc furnace coming on line 2024 could suffer with higher electricity Prices
worth keeping an eye as volume has been good