Sunday Prep 6/27 - $SPCE is a short if tests ATH - watch closelyFrom Sunday Prep Jun 27, 2021 prepared by TrueTrader pro @RickyAnalog
---
From almost 52w lows to almost 52w highs in the matter of a few weeks. Pretty extreme if you ask me. But anything is possible in the day and age of the Reddit boards and highly shorted names. Was really surprised to see on Friday that the highest the strike prices went out on the options was $60. That means that earlier in the week, you may very well have had a lot of dealers selling premium on 45s, 50s, and 55s thinking “there’s no way they run the price way up here.” Well a lot of them probably were walking around funny this weekend as the stock gapped up Friday on news and the volume was the highest volume day the stock has ever had.
Will be looking for this to test ATHs and possibly start to show weakness.
But if this is going to be a gamma squeeze play, the best short may end up being later in the week. We will have to see how they play this out. Still may offer a nice short on Monday, and then they find support, only to head higher midweek.
