Looks like they’ve made at least one MM very, very happy with their donated premiums
Most of this OI is rather old, and some have not been touched in weeks, so this is a trail of dashed hope and dreams, and not recent entries that reflect some possible bullish news. E.g. here is the 1C historical data. Also Muln has > 700M shares outstanding, and all call shares represent 15M shares. Between this being not nearly enough for a gamma queef even, and all the strikes being waaaaay OTM, it’s almost a certainty that all this will expire worthless in a few days. (Source for image below.)
MULN ran almost 100% on a WSJ piece on them, then retraced half way back. Was away all day so missed multiple plays here. After testing VWAP three times (1, 2 and 3 below), it finally breached (4). It failed to break up through VWAP after (5), though it did end the day up right there (6).
Feels like when the selloff began at 1pm, algos took over. Given that: a) the WSJ article had nothing new, and b) SI is 7% of FF (according to Mimir), borrow fee is a measly 4% and there are 10’s of millions of shares to borrow and so a short squeeze is extremely unlikely, odds are much more that we go back down again.
There was a selloff right out of the gates, taking prices down 10% (1). However, this was bought up quickly. Unclear why anyone would sell there, so could be a large short position that was opened. This is bullish.
For the rest of the day, price stayed within the Vwap band - a breakout from the 2-std deviation failed (2). Vwap was tested on the downside three times (3, 4 and 5) and it held. Vwap was also tested on the upper bound (6, 7 and 8), and it did not breach. This suggests, again, that algos and traders took control after the first ~30 minutes of trading.
There is a breakout after hours, but let’s not get too excited about this - see what the PM does on Monday.
Overall, it feels like the stock has been repriced to a higher amount, and I’d be surprised if there was a knife down anytime soon, if nothing else happens.
The “if nothing else happens” is the important part, as we do have the test drive coming up. And there’s the cloud of the 900M dilution hanging over us - if that has not hit the market yet, a simply doubling of the supply can bring on bad times.
As someone actively following this, I’ve got predetermined rules in place for when to consider going long(er), and/or short(er). As long as you have those too, you are unlikely to FOMO or panic when #SomethingHappens.
As always, NFA. Use your own crayons. Responsibly.
Honestly, until they can actually produce something reliably, the long term trajectory is still down. There’s a lot of dilution coming, and there isn’t a catalyst after the test drive that I know of.
Doesn’t mean I’m going short, yet - sentiment can have legs. And the IV is rather high at the moment.
Note: I’m playing an acerbic persona in this thread as it seems to engage the fanbois without getting me banned. Please look past the “asshole” that comes out in these and other posts
This all-American EV company that was going to blow our socks off with bleeding-edge battery tech has resorted to reselling Chinese vans in Europe - vans that can likely be sourced on their eBay. Beggars can’t be choosers though… it is what it is.
We closed green this AH (8%) around $0.58. Tomorrow is a big day for MULN and rumors are that a major announcement will be revealed for the Mullen 5 tour at the Rose Bowl in L.A!
Hopefully something big is announce so we can make major gains!!! ( people who have a position)
