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BGG - The Great Option Play
Alright - this is a play for the degenerate gambler. If you are one of the dudes who buys lottery tickets from the gas station or puts it all on a number at the roulette table, this play is most likely for you.
The Play
BGG has been in a 2 year bear trend and has recently broken out of the trend line holding that downtrend in place. Basically, we're betting on a wave retracement to happen against the longer term bear market, and happen fast. When this come up happens a short squeeze will be in effect shooting up the price to either 7.06 or 11.40
The Evidence
44.69% of all float shares are short as of 06/10/2020 - shortsqueeze.com/shortinterest/stock/BGG.htm
There is growing interest among retail investors:
robintrack.net/symbol/BGG
And up top we see a successful Elliot Wave which incorporates just the first and second move of this entire 5 wave play.
Which Option Contracts?
Right now I have a 30-70 split on the contracts I'm in mixed with July and October expiration, in case this takes off within the next month or so. The contracts specifically are:
BGG Jul 17 '20 5.00 Call - 30%
Charting of the option link:
barchart.com/stocks/quotes/BGG|20200717|5.00C/interactive-chart
BGG Oct 16 '20 5.00 Call - -70%
Charting of the option link:
barchart.com/stocks/quotes/BGG|20201016|5.00C/interactive-chart
The Play
BGG has been in a 2 year bear trend and has recently broken out of the trend line holding that downtrend in place. Basically, we're betting on a wave retracement to happen against the longer term bear market, and happen fast. When this come up happens a short squeeze will be in effect shooting up the price to either 7.06 or 11.40
The Evidence
44.69% of all float shares are short as of 06/10/2020 - shortsqueeze.com/shortinterest/stock/BGG.htm
There is growing interest among retail investors:
robintrack.net/symbol/BGG
And up top we see a successful Elliot Wave which incorporates just the first and second move of this entire 5 wave play.
Which Option Contracts?
Right now I have a 30-70 split on the contracts I'm in mixed with July and October expiration, in case this takes off within the next month or so. The contracts specifically are:
BGG Jul 17 '20 5.00 Call - 30%
Charting of the option link:
barchart.com/stocks/quotes/BGG|20200717|5.00C/interactive-chart
BGG Oct 16 '20 5.00 Call - -70%
Charting of the option link:
barchart.com/stocks/quotes/BGG|20201016|5.00C/interactive-chart
註釋
WOW - 2.06 is the last line of defense, if that price level falls, this play is then invalidated.
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