Did you watch the Penn Vs. Sanchez fight???? Man... ouch.Quote:
Originally Posted by socalrunningfool
Lol, the spread for Relmor and I is always going to be high... we're on opposite sides of the spectrum. Price can be 0.60, 0.70, 0.80 and we'll be up there.
I'm just surprised so many of them picked prices so far above the 0.68-0.70 band. It takes 2 technical events for the price to settle there, a bounce of thee trendline and a break thru of that resistance zone. If I remember right, the price has only closed above 0.70 twice, and that was not at the previous earnings release, but the one before... when we were still negative. Even with a rally off the trendline, the highest I'd go would be 0.74, with the idea that the price is fighting within the resistance area.
For all our sakes though, I hope Relmor's price is the one that hits... but the ATR (using a 14 period, which for short term for contest's sake is ok) is in a downtrend. When the contest started, it was challenging the march low, at about 0.02. During the rest of the year, it only challenged 0.03 twice. We're at 0.021 this weekend, and the last time it hit below 0.02 was in February. That's also what is likely holding the March calls down so low. If it breaks 0.02, I bet one could buy Jun $1 calls at 0.05. I think the ticker is QOXFA.
Who knows though - one thing I learned is statements like "It can't go past XXX" or "Well never see ### again", aren't ones to trade by.
So far, this month has been sideways on the indexes, so really need them to move one way or the other to get the ATR rolling, or as you said, some tremendous news. At this point, if there is an upgrade, I'm sure most institutional guys will wait until after the year end to move anything. Seems like they are content on riding out the year with what they have for reporting's sake.
