jwhitlock3 said:
Prognightmare said:
People have a short term memory. MARA is ripe for a trade if it sells off into the close. Sub $19 has minimal risk IMO. The TSLA news pressure will be forgotten fairly quickly and you can scalp 3-7 points.
Thought about playing a 5/21 20/25C spread but I'm not convinced that's enough time to rebound. It's 1.10 to play this, and then volume is dead until Jun 18 calls, and a 20/25 there is only 1.50, might pay to go out further?
ETA: options chart http://opcalc.com/uBC
ETA2: submitted an order at 1.45 for 6/18 20/25, if we get a flash down in the last hour it should fill. I like the odds here.
Yeah I'd go out further, or if you want, play the 5/21 very small and the 6/18 bigger. MARA is part of the growth sector, so regardless of BTC, growth needs to reverse first before it shows any real rebound. But maybe I'm wrong and it at least model T's this drop.
I might join you (small position), I see a 3.2 mil green bar at the open today.