Jul. 22 at 6:38 PM
$BLSH New long position.
Core entry: Been tracking this one on the radar for a while... left a low-ball limit order resting on long-dated
$35 Strike LEAPs and got the fill on today's pullback.
Funding strategy: Writing short-term OTM puts (30–40 DTE) to collect premium and systematically lower the cost basis on the LEAPs.
The fuel: As the chart shows, Short Interest is stacked at around 24.38% of float with a 6.16 days-to-cover ratio. When you have a float this heavily shorted down near the lows, it only takes one spark to turn a minor bounce into an absolute rip as shorts scramble for the exit.
Not a full position... looking to add exposure as things materialize. Good luck out there. Giddy up!
