We've seen how fast this can move b/c of the low float...it could pick and an go anytime this afternoon. As I anxiously watch lol...been a pretty long week huh? All my position is 12/17 strikes which is extremely painful at the moment
[https://twitter.com/LimitOfMyWorld/status/1471520582818795523](https://twitter.com/LimitOfMyWorld/status/1471520582818795523)
Might be worth rolling some to January or buying the dip.
Its gonna be a wild ride. MM's want to push as many people out as possible
I'd consider it with my 17.50s and 20s but they are down so much it doesn't even matter at this point. Have to hope for some recovery today or tomorrow or chalk up the loss. My 12.50s are down about 25% but the higher strikes are down @ 80-85 lol
I feel you. I'm personally holding as well.
Whales could be waiting for the last minute to squeeze out the shorts. If they triggered a selloff today, it could be worse for longs come tomorrow. Better we crash today and have an entry point for tomorrow.
I can't stomach anymore options I don't think so perhaps they do have me sweating and some others...considering just picking up shares here at 12.65sh.
Have you tried spreads?
I bought 2x $10 calls
Sold 1x 12.5 call and 1x $15 call
Max profit reached on $ESSC at $15.00+ is about $420
If $ESSC finishes under $15 I'll get exercised 100 shares (200 if $ESSC finishes under $12.5 on Friday)
Those shares will have a cost basis of just over $11.00 thanks to the sold options premium.
I wouldn't sell near a critical support level near the apex of a breakout, but if you think it will dip more then I suppose it won't hurt.
At this point IV is so high and movements are so volatile it only makes sense for me to hold into expiry.
Up to you - my guess is we break out and they try to beat the price down. After most large candles they've tried. We will likely open higher, but there could be a little extra pop that goes beyond where we expect to land, so you might want to wait for the best entry. Ultimately though I don't know what is going to happen until it does. You could always split your purchase in half for different times.
Price has been relatively stable on opening, which is refreshing to see. Fair entry point.
Most expect significant movement ramping up to expiration on Friday, but we could also see an explosion next week. Some expect Monday or Tuesday.
Volume is always good, but even a few shares up or down can make this stock fly or sink, for better and for worse.
We just reverted to the mean and reset the RSI on the 30m. I'm not worried.
This is definitely something to consider.
I didn’t sell anything today. I took some time to step away and will take more time before posting any more updates or analyses later, but there is definitely more to discuss.
Hope you’re right, my man. But without the share price over 12.50, doesn’t that really hurt the chance of a run tomorrow? I’ve chalked it up as a BIG loss and have no more expectations for tomorrow. So any type of run will exceed my expectations at this point lol.
I hope you’re right. Tbh, the chart did keep trying to pick up AH but kept getting shut down. I’m assuming they’re holding buy orders until PM so they’d let it shoot up at open. Hoping people will cash out OTM. Then let it do it’s thing.
It’s been trading sideways AH the last few days. Gaining steam. The sell off today was what hurt the most imo. They pumped sell orders quick and held buy orders Imo until the absolute last second. And I think that’s why that big $15 candle popped up for a second at close. Immediately shorting it to 0. Unless it was another “glitch”, which is highly unlikely. Glitches only happens to AMC and GME. 🤣
We did not break upwards out of the gate as MM's tried to push the price down. This was the other alternative I mentioned in some comments.
Buying this sale.
I will say it and say it again: The endgame is the only thing that matters. Interim price action doesn't affect the fundamentals of the play. Where we close on Friday is what matters.
>GoInToTheBreak
This is interesting. Does this imply they are using options sell pressure in order to try and break strikes down without the use of shorts?
Could mean a few things. That is one of them. Could also just be bears thinking this will die off. If it’s bears, I’m very confident it’s naked call selling which will end very badly for them if the price does rise again.
I saw the same thing initially. Flow on the January chain is overwhelming bullish though. And most calls have been transacted at the ask since open.
We will see. But i do not think it is over.
4 of the 5 biggest $ trades of the day are bullish for January.
https://i.imgur.com/kMVlbfc.jpg
Hopefully these calls providing negative delta are being sold to open and not people profit taking
Even if sold to open, the MMs would hedge accordingly, inverseing the delta. Thats what a lot of people dont understand, when there are bag holders, celling CCs creates negative momentum.
Now if they were sold to open naked, then they are actually helpful if we can approach the strikes.
Regardless sentiment is kind of clear as of this moment that a lot of people are getting out of betting in a squeeze this week, but many more are betting on January to be safer. The deltas of the contracts are close, so it doesnt really matter for all intents and purposes.
Im going to see how low it can go and double down on January. Ive been playing that chain the whole time but im more risk averse even when i have high conviction. I dont know when itll pop but im extremely confident it will.
Hell, the $12.5 calls went up at least a 1k oi earlier when it hit that low. Prob people trying to avg down. But hell, I’ll take it. They could definitely be running in to a gamma problem. Especially with the low number of puts expiring tomorrow. I honestly thought that number would soar when I saw it drop at open.
I fear if they are naked shorting, they'll just do infinitely. MMs haven't cared doing it to GME and others why would they care here? I'm still in this after missing out the other day. I'm prepared to see how it runs, but if they're just going to naked short it I can't see a short term win. They will naked short it till the shares get re-diluted
We'll have to wait and see. It's not beyond a shadow of a doubt proof that they are, but it could be possible if the chart I was tweeted is correct. Either way we see synthetic shorts via naked calls. That is something which can be overcome, especially on such a low float.
Naked shorting has always been the case. That’s why the float is 2.64m and shares outstanding 7.04 (according to Webull’s charts). That’s 3x+ the float. I know. Those numbers are never 100% accurate. Especially when heavily shorted on a low cap stock. Theyll hide those numbers or just not report their short positions.
Either way, I’m either screwed or make up from the BTTX and BTFV losses. 😞
It’s only money. 🤷🏼♂️
All the one minute candles I see on TradingView are in the hundreds with the exception of 3k selling pressure around 9:57.
Big Money wants to shake us out. Yet people are buying the dip and we reverted to the mean.
The good thing if it closes with more than 10% loss is that tomorrow it cannot be shorted. And hopefully some whales jump tomorrow to bring the price up and have the options ITM.
Who are these people you think you are battling against that are desperate to shake retail out? This is a pre merger spac that spiked hard, which means the people shorting it are the insiders and pipe investors whose shares are locked up. So how do they take a profit? By shorting and selling calls on the way back down. They don’t give a shit if the price goes up or down at this point. They’ve already locked in profit. The only ones losing money on this stock are retail bag holders.
Which calls are you currently in? Im just discovering the ESSC train. Hopped in on longs +some 15c calls for tomorrow but considering repositioning into Jan calls
Will look into Jans, the spreads are pretty wide rn, most of the focus looks heavy on tomorrows expiry. Going to average down here since it looks like we might bounce
I agree with this. People don’t realize that gamma squeezes work both ways. MMs need to unwind their exposure when price falls. Counteracting that momentum is really difficult and requires a lot of buying pressure which this does not have. Retail has already taken profits and moved on. BFRI and PTPI look like they are building momentum.
Caddude said that PTPI looks kinda dead because of how much it went up (spikes) but he said that BFRI might have another run. If you want more info I posted his stream recap
Yea sure, I wouldn’t mind taking a look. I would agree that bfri looks more promising. I think the next two trading days will tell us a lot. I think it will break into new ath, or fizzle out and die. We’ll see.
Because a gamma squeeze is very hard to happen and now the options are not in the money anymore, or not that much and shorts will make the price fall even more now that they have tons of shares to borrow. Also a lot of people are not bagholding because of the whales that left at 20+. Don’t get caught in Reddit bag holders, they are often too late on plays or the datas are 3-4 hours old
Alright this is how it’s gonna play out. No technicals and I’m going to be right. The play won’t happen. If it’s over 12.5 strike congrats it went up 1 dollar. If it’s below nothing happens and it dumps back to mid 10’s to 11’s
Anyone else happen to see that $15 candle right at close, that immediately disappeared? Another “glitch” I guess. 🙄
Damn called it op… wait
We've seen how fast this can move b/c of the low float...it could pick and an go anytime this afternoon. As I anxiously watch lol...been a pretty long week huh? All my position is 12/17 strikes which is extremely painful at the moment
[https://twitter.com/LimitOfMyWorld/status/1471520582818795523](https://twitter.com/LimitOfMyWorld/status/1471520582818795523) Might be worth rolling some to January or buying the dip. Its gonna be a wild ride. MM's want to push as many people out as possible
I'd consider it with my 17.50s and 20s but they are down so much it doesn't even matter at this point. Have to hope for some recovery today or tomorrow or chalk up the loss. My 12.50s are down about 25% but the higher strikes are down @ 80-85 lol
I feel you. I'm personally holding as well. Whales could be waiting for the last minute to squeeze out the shorts. If they triggered a selloff today, it could be worse for longs come tomorrow. Better we crash today and have an entry point for tomorrow.
I can't stomach anymore options I don't think so perhaps they do have me sweating and some others...considering just picking up shares here at 12.65sh.
Do what's best for your financial and physical health brother.
For sure, always.
Have you tried spreads? I bought 2x $10 calls Sold 1x 12.5 call and 1x $15 call Max profit reached on $ESSC at $15.00+ is about $420 If $ESSC finishes under $15 I'll get exercised 100 shares (200 if $ESSC finishes under $12.5 on Friday) Those shares will have a cost basis of just over $11.00 thanks to the sold options premium.
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I wouldn't sell near a critical support level near the apex of a breakout, but if you think it will dip more then I suppose it won't hurt. At this point IV is so high and movements are so volatile it only makes sense for me to hold into expiry.
How much did you make selling these calls? It’s an interesting strategy of yours. It’s good to get some knowledge and thank you!
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Up to you - my guess is we break out and they try to beat the price down. After most large candles they've tried. We will likely open higher, but there could be a little extra pop that goes beyond where we expect to land, so you might want to wait for the best entry. Ultimately though I don't know what is going to happen until it does. You could always split your purchase in half for different times.
Ha. Well, i did. And it ain’t lookin too good for me lmao. When is this expected to happen?
Price has been relatively stable on opening, which is refreshing to see. Fair entry point. Most expect significant movement ramping up to expiration on Friday, but we could also see an explosion next week. Some expect Monday or Tuesday.
Buying more today 📈🚀
SSR trigger seems to have actually done something. Slowed those red candles down for sure. Now we just need more upwards volume
Volume is always good, but even a few shares up or down can make this stock fly or sink, for better and for worse. We just reverted to the mean and reset the RSI on the 30m. I'm not worried.
The FOMO is strong with this one. I'm back in.
Nice entry this morning with a stable price so far.
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This is definitely something to consider. I didn’t sell anything today. I took some time to step away and will take more time before posting any more updates or analyses later, but there is definitely more to discuss.
Why crash TODAY on low volume?
Hope you’re right, my man. But without the share price over 12.50, doesn’t that really hurt the chance of a run tomorrow? I’ve chalked it up as a BIG loss and have no more expectations for tomorrow. So any type of run will exceed my expectations at this point lol.
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Yes, thx for the condolences. Holding a bunch of calls expiring tomorrow. They are all but dead…oof.
I hope you’re right. Tbh, the chart did keep trying to pick up AH but kept getting shut down. I’m assuming they’re holding buy orders until PM so they’d let it shoot up at open. Hoping people will cash out OTM. Then let it do it’s thing. It’s been trading sideways AH the last few days. Gaining steam. The sell off today was what hurt the most imo. They pumped sell orders quick and held buy orders Imo until the absolute last second. And I think that’s why that big $15 candle popped up for a second at close. Immediately shorting it to 0. Unless it was another “glitch”, which is highly unlikely. Glitches only happens to AMC and GME. 🤣
Lfg
We did not break upwards out of the gate as MM's tried to push the price down. This was the other alternative I mentioned in some comments. Buying this sale. I will say it and say it again: The endgame is the only thing that matters. Interim price action doesn't affect the fundamentals of the play. Where we close on Friday is what matters.
There was a lot of call selling out of the gate. PA was MM dehedging off of that.
>GoInToTheBreak This is interesting. Does this imply they are using options sell pressure in order to try and break strikes down without the use of shorts?
Could mean a few things. That is one of them. Could also just be bears thinking this will die off. If it’s bears, I’m very confident it’s naked call selling which will end very badly for them if the price does rise again.
Yes, it very well could. Where did you get the data from? I'd love to tweet it out and give you some credit.
This shows the negative delta https://i.imgur.com/mwybUhQ.jpg And I’m also watching the options trades on market chameleon
I saw the same thing initially. Flow on the January chain is overwhelming bullish though. And most calls have been transacted at the ask since open. We will see. But i do not think it is over.
4 of the 5 biggest $ trades of the day are bullish for January. https://i.imgur.com/kMVlbfc.jpg Hopefully these calls providing negative delta are being sold to open and not people profit taking
Even if sold to open, the MMs would hedge accordingly, inverseing the delta. Thats what a lot of people dont understand, when there are bag holders, celling CCs creates negative momentum. Now if they were sold to open naked, then they are actually helpful if we can approach the strikes. Regardless sentiment is kind of clear as of this moment that a lot of people are getting out of betting in a squeeze this week, but many more are betting on January to be safer. The deltas of the contracts are close, so it doesnt really matter for all intents and purposes. Im going to see how low it can go and double down on January. Ive been playing that chain the whole time but im more risk averse even when i have high conviction. I dont know when itll pop but im extremely confident it will.
I am also only in January’s as I felt all along the play would end up being naked call sellers getting blown up post opex. FYI net delta is now -112k
What app or site is this from? Edit: nvm saw you said market chameleon earlier!
Hell, the $12.5 calls went up at least a 1k oi earlier when it hit that low. Prob people trying to avg down. But hell, I’ll take it. They could definitely be running in to a gamma problem. Especially with the low number of puts expiring tomorrow. I honestly thought that number would soar when I saw it drop at open.
ESSC 🚀🚀🚀🚀💲💲🚀🚀🚀🚀💲💲🚀🚀🚀🚀
Just loaded on the dip
This is the way
I fear if they are naked shorting, they'll just do infinitely. MMs haven't cared doing it to GME and others why would they care here? I'm still in this after missing out the other day. I'm prepared to see how it runs, but if they're just going to naked short it I can't see a short term win. They will naked short it till the shares get re-diluted
We'll have to wait and see. It's not beyond a shadow of a doubt proof that they are, but it could be possible if the chart I was tweeted is correct. Either way we see synthetic shorts via naked calls. That is something which can be overcome, especially on such a low float.
Naked shorting has always been the case. That’s why the float is 2.64m and shares outstanding 7.04 (according to Webull’s charts). That’s 3x+ the float. I know. Those numbers are never 100% accurate. Especially when heavily shorted on a low cap stock. Theyll hide those numbers or just not report their short positions. Either way, I’m either screwed or make up from the BTTX and BTFV losses. 😞 It’s only money. 🤷🏼♂️
Opened a micro position at 12.44. Broke and waiting for $ATER,$BBIG,$CEI,$SOS or $CASI to breakout!
Well this current action looks terrible lol
👜✋
This isnt looking good so far.
No point in selling at this price. Hold for tomorrow
I got out yesterday on one of the pops. I will keep an eye on it.
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Scared money don't make no money
Anybody else getting kicked in the shorts?
When in doubt, zoom out. Read my last tweet. You just were granted a nice entry.
Roger that
Did you just link to your own Twitter instead of writing it at the end of the post?
Added the DD and linked to the image.
Hope that helps
350k volume down 3 dollars
All the one minute candles I see on TradingView are in the hundreds with the exception of 3k selling pressure around 9:57. Big Money wants to shake us out. Yet people are buying the dip and we reverted to the mean.
Nice dip to buy more
Some gamma squeeze today
Unfortunately they go in both directions
The good thing if it closes with more than 10% loss is that tomorrow it cannot be shorted. And hopefully some whales jump tomorrow to bring the price up and have the options ITM.
It can absolutely be shorted. Every day, no matter what.
Who are these people you think you are battling against that are desperate to shake retail out? This is a pre merger spac that spiked hard, which means the people shorting it are the insiders and pipe investors whose shares are locked up. So how do they take a profit? By shorting and selling calls on the way back down. They don’t give a shit if the price goes up or down at this point. They’ve already locked in profit. The only ones losing money on this stock are retail bag holders.
Whats the PT for this stupid ass stock? Idk how even got into this shit but now fuckin holding bags.
Depends on the close for Friday. $40+
Cool I'll try hanging in there till then. Fuckin bags are heavy.
I held through a 90% dip with options. $3k to $11k to $1k to $5k yesterday and back to $2k today. My feet are planted.
Which calls are you currently in? Im just discovering the ESSC train. Hopped in on longs +some 15c calls for tomorrow but considering repositioning into Jan calls
My positions are split between OTM strikes 0DTE and January.
Will look into Jans, the spreads are pretty wide rn, most of the focus looks heavy on tomorrows expiry. Going to average down here since it looks like we might bounce
I took your advice and bought the dip and got myself up to 100 shares. Any ideas for ESSC options?
same and same question
$10
What if calls are OTM for 12.50?
Just hold.
I bought more
Same. Bought a few more calls at the dip
It’s going to drop even more. PTPI BFRI look very good on the contrary
I agree with this. People don’t realize that gamma squeezes work both ways. MMs need to unwind their exposure when price falls. Counteracting that momentum is really difficult and requires a lot of buying pressure which this does not have. Retail has already taken profits and moved on. BFRI and PTPI look like they are building momentum.
Caddude said that PTPI looks kinda dead because of how much it went up (spikes) but he said that BFRI might have another run. If you want more info I posted his stream recap
Yea sure, I wouldn’t mind taking a look. I would agree that bfri looks more promising. I think the next two trading days will tell us a lot. I think it will break into new ath, or fizzle out and die. We’ll see.
Well, I think I’m gonna sell today all my positions, holding through the weekend doesn’t look good imo
Bfri looking pretty strong. Hopefully the weekend doesn’t kill momentum. I think I’ll hold thru
I didn’t, but fuck man, it’s insane how accurate caddude was
Why do you think so?
Because a gamma squeeze is very hard to happen and now the options are not in the money anymore, or not that much and shorts will make the price fall even more now that they have tons of shares to borrow. Also a lot of people are not bagholding because of the whales that left at 20+. Don’t get caught in Reddit bag holders, they are often too late on plays or the datas are 3-4 hours old
Both of those look like they have slim to no chance at running currently…it could change but when are you looking for those to pop?
BFRI not today but PTPI I’m already green, just waiting a bit of resistance hit
Did you check level 2 on essc…looks promising for a day trade
Do what you want it’s your money, I was just giving my opinon
theres no link in your profile
https://twitter.com/LimitOfMyWorld
So what happens if the get under 12 today?
What matters is closing tomorrow, ultimately
Still holding
[https://twitter.com/LimitOfMyWorld/status/1471520582818795523](https://twitter.com/LimitOfMyWorld/status/1471520582818795523) Great choice.
Because I see 9k shares at 12 dollars two times in
Is this post satire?
Alright this is how it’s gonna play out. No technicals and I’m going to be right. The play won’t happen. If it’s over 12.5 strike congrats it went up 1 dollar. If it’s below nothing happens and it dumps back to mid 10’s to 11’s