On their recent earnings call the company stated they intend that the stock price will be over $11.50 by September 9 for their warrants to expire ITM. The company really wants it to be over $18 30 trading days before this and remain above $18 for 20 of those 30 days so a forced redemption can occur. The company wants this to happen because it will provide them funding. 30 trading days before Sept 9th is July 28th. I own a bunch of warrants already. All options between Jun 18 and Aug 21 have dog shit open interest. This call option can't get any more cheap, any move upward will briefly profit. This can just be a low stakes bet that the company will announce anything in the next month to spike the price. If they do, I will sell 400 contracts at 0.25 to almost break even and hold the rest. If they expire worthless that's fine. Probably a low chance of success here folks, DYOR.
Position 200 contracts at like $0.35, and 800 contracts at $0.05 purchased today. Will purchase more in the next week only if I can get a $0.02 bid to fill.
