The $70 Bet
By Brandon Chapman, CMT
Hey trader,
The squeeze math on IREN just changed in a single session.
Most traders skip a print like this.
They see a strike sitting 50% above the current price, assume the buyer reached for a low-probability lottery, and move on.
That read misses how a squeeze setup pays differently than a straight directional bet.
This morning the Block Hunter Console flagged 22,000 contracts bought at the $70 strike on IREN. The stock is trading near $46.
19% of the float is short. Earnings report on May 7. The 52-week high of $76.87 was printed in November, which means $70 is reachable when the conditions stack.
The retail version of this trade does not need to ride all the way to $70 to pay.
The structure costs about $2.00, pays $4.00 max on the first leg, and rolls up to the next strike if momentum continues.
The Block Hunter Console caught the IREN $70 strike print in real time. The stock has not even reached its prior month's high yet.
The Console has lit up opportunities producing 375% on KSS in 13 days, 206% on PLUG in 5 days, and 100% on VFC in just 24 hours.
Click Here To Watch the Block Hunter Replay
Disclaimer: Neither TheoTrade or any of its officers, directors, employees, other personnel, representatives, agents or independent contractors is, in such capacities, a licensed financial adviser, registered investment adviser, registered broker-dealer or FINRA|SIPC|NFA-member firm. TheoTrade does not provide investment or financial advice or make investment recommendations. TheoTrade is not in the business of transacting trades, nor does TheoTrade agree to direct your brokerage accounts or give trading advice tailored to your particular situation. Nothing contained in our content constitutes a solicitation, recommendation, promotion, or endorsement of any particular security, other investment product, transaction or investment.Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past Performance is not necessarily indicative of future results.
0 Response to "The $70 Bet"
Post a Comment