Moderately shorted and increasing short float.
Volume profile is settling.
Extremely low market cap for an optionable asset.
Before June 17th, we could see an increase of at least 100% (option price) as some shorts cover.
Using options so time is the only SL.
Targets:
T1: 50% closed @ 100% (option) profit to get initial investment back
T2: 25% closed @ 45% (stock) profit
T3: Remaining 25% determined by price action
Volume profile is settling.
Extremely low market cap for an optionable asset.
Before June 17th, we could see an increase of at least 100% (option price) as some shorts cover.
Using options so time is the only SL.
Targets:
T1: 50% closed @ 100% (option) profit to get initial investment back
T2: 25% closed @ 45% (stock) profit
T3: Remaining 25% determined by price action
Trade active:
June 17th 22 Calls @ $5 Strike
Trade closed manually:
Due to macro environment, position has been sold manually