I have a question around this, they need to have these shares bought back before the special meeting but couldn’t they just wait until after Jan opex and for the price to die down before buying back in February?
I’m assuming this meeting is in February here.
They have until February to complete the business combination, the meeting is very likely going to happen in January.
Is there a possibility of the meeting happening before OpEx? How would that affect this play?
Ah my mistake, thanks for clarifying.
Assuming Sea Otter need to reaquire shares on the market, does it affect the play at all if they decide not to/can’t afford to buy their 900k shares back?
I found these chart comparisons to be beneficial last time. Can you do a follow-up for the current volume, given the OI chains are much better than the previous run-up and the upward movement seems steadier instead of as volatile?
My theory holds the same. Glad you found it helpful.
Now for some drama…
" $ESSC yeah this thing is done, people don’t know how to look at data & just rely on hopium. If this breaks $26 I will quit trading" – pussyboy on twitter
15 min before close, lots of 10c buys >$1K
The consistent sizing, and timing, of 5 and 20 makes me think it’s one person.
maybe, one of cadpussy’s cultists will see this here, y’all need to learn how to read charts over there…
OI update comparing week of opex in December to 2 weeks from OPEX in jan as of today
Everything is looking great! Sentiment is on the rise with reaching the $15 level again. If ESSC can hold over $15 i forsee massive retail fomo buying just like in December. Oh and fuck caddunce for calling this play garbage and that MMs dont have to hedge. Dudes actually retarded. Godspeed gentlemen
I’ve always appreciated the discussions on r/maxjustrisk. Here’s some chatter today: Reddit - Dive into anything
| Strike | OI | Change | %Change |
|---|---|---|---|
| 10c | 9622 | -117 | -1.2% |
| 12.5c | 17504 | -371 | -2.1% |
| 15c | 7363 | +1211 | +19.7% |
| 17.5c | 4954 | +445 | +16.5% |
| 20c | 3906 | +229 | +6.2% |
| 22.5c | 1798 | +242 | +15.6% |
| 25c | 8530 | +1495 | +21.2% |
ITM OI is down to 229.6% of the float, while the whole chain is up to 470.2% of the float (1.191 mil float)
ITM OI is at 181.5% of float (down from 184.9%), the $15 bring it to 238.6% of float (up from 233.9%) and the whole chain is up to 373.4% (up from 348.8%)
Using 1.5M for the float.
January daily call spreads through yesterday, got busy with kids and didn’t have a chance to update the day before.
For anyone concerned, the slight decrease in ITM OI will not derail the play. The increasing OTM OI is bullish and continuing to build the gamma ramp.
I am not concerned with the decrease in ITM OI, more concerned of a sentiment change because of whats going on. Lets not underestimate the influence of some people.
Yes, that is always in the back of everyone’s mind when it comes to $$$ on the table. You have to manage risk, manage your entries and exit, simple as that. You can’t get caught with your pants down if you create backstops. High sentiment plays like ESSC demand attention certain days were you need to be at the keys ready to stroke. When it’s trading sideways you can utilize your backstops if you can’t give your attention to her.
