SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Technology StocksOSTK, the morph towards blockchain


Previous 10 
To: Lawrence Burg who wrote (1)2/8/2019 8:43:07 AM
From: Lawrence Burg
   of 4
 
trading notes.

up until Wednesday afternoon, OSTK has seen daily bullish trading up to ~1030. at that point, buyers seen to abandon the spread, ignore the ask, and let the trading fall carelessly to the bid, resulting in a slow bleed for the rest of the day, often erasing most of the early gains, and even going negative.

last Friday 1f19 also saw a shake down to $16.25ish which played well for that's days $17 & 17.50 OpEx.

thought? volume is very inconsistent, ill-funded, and narrow. I don't believe there is any deliberate shorting aimed at price points on the chart. there is an accumulation of shorts simply trading this passive-aggressive opportunity.

why...while OSTK is being noticed, there is a wide family of equities moving in the blockchain sector, and a similar broad base to accept investment. so OSTKs p-a market behavior won't find stability until blockchain monies grow within mutual/ETFs.

The takeaway for now should be that pops in OSTK can still be traded with confidence. closing calls for profits. rolling those profits forward in the calendar to exploit anticipated good news, and reinvesting the core option equity back into calls as the price spike peters out, and call prices shrink back down.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: Lawrence Burg who wrote (2)2/8/2019 8:57:24 AM
From: Lawrence Burg
   of 4
 
Of note here, is my suspicion that there are people aware of upcoming developments. Notably the GSR capital deal/infusion/vestment, that was postponed from December, leading to price crash, to 28 Feb.

2 weeks ago, on a Friday afternoon, OSTK saw a volume flash and move from the $13s to $15s, counteracting most of a January slide. It coincided near the close of a bitcoin conference in Miami. The lighthearted assumption was that CEO Pat Bryne, et al., made it to happy and let some things slip.

trading peeled off early next week 22jan+, but heated up again running into a Chinese Blockchain conference where GSR was speaking. SPike ensued near the end of that one.

What's the point? while this is all unfounded conspiracy drama garbage, it may not be false. It makes sense in some ways, that this very volatile industry (like the bitcoin bubble) sees sporadic, very emotional buying. squashing rumors and the p-a price behavior/trading seems to mirror that.

I would also point to the most serious spike,Wednesday 6f19, around 1430. huge volume, from ~1M goes to 4M shares by 1500, followed by another 2M through1600. with the price holding.

momentum and rumor was totally refuted by an aftermarket PR which said....absolutely n-o-t-h-i-n-g. Total cya for the market behavior. so...Hollywood here thinks what? some news got out and prompted $100M to change hands in a matter of 90 minutes. not an idle event.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: Lawrence Burg who wrote (3)2/8/2019 10:38:44 AM
From: Lawrence Burg
   of 4
 
OK...so what's the play.

Here's me. Holding a mix of 21-23 15/22f19 calls. I forward-rolled some of those to start 1/8Mar19 calls. this is good, because it will span over the GSR deadline

basically trade any appreciation, and wait for the pullback, as described earlierr

Share RecommendKeepReplyMark as Last Read
Previous 10