|SPAC/ATNF trade…. |
I don’t expect news. That would be a bonus.
I do expect any move to be significant. With the close higher than the $5 for AVCT, could easily gap to $12-13 and push to $14-15 pre-market, with a lower open, around $11-12, near the issue pricing.
Selloff for the balance of the day. Insane volume. $20-30M+ shares. I believe this was done on AVCT to overwhelm and churn up any retail interest, and baffle pedestrians with visions of grandeur and institutional fantasy.
I acquired some $7.50 weekly calls for $0.15 around 3pm, 16mar21, noting the bounce off $6. I will place orders to sell them 17mar21 from $3 -$6, but regardless plan to go flat on the calls by the close. If it plays out as I’ve detailed, I will grab some 26 Mar $10 and $7.50 puts, to cover the price fade through next week.