Alright degenerates, round 2 because the mods nuked my post yesterday for whatever reason.
$FIG has been throwing off some seriously weird options activity this week. Today it held key support, traded with absolute crackhead volatility, broke through resistance, and closed higher than yesterday. Meanwhile, premiums on the far OTM calls are starting to wake up.
The one that keeps screaming at me is the $28C expiring this week. Monday it was pushing 80k+ volume with only a couple hundred contracts of open interest. That’s an absurd amount of fresh positioning, not people closing old trades.
Could be nothing. Could be degens lighting money on fire. But when you combine that flow with today’s price action, I’m adding more. MORE!
I’m adding bullish here. I think there’s a legitimate shot we see $28 this week, and I’m confident enough to post it before the move instead of pretending I saw it after.
Either I’m about to look like a genius or donate to someone’s bonus.
Godspeed, regards.