TopOptionAlert
Oct 25, 6:14 PM
$CLSK NOV20 7.50P · still actionable
Zone:
$7.82 to
$7.94
Invalidation: close over
$8.32
Objectives:
$7.50, then
$7.00
The math: down 4.8% to the first objective and 11.2% to the second, against 5.6% risk on the invalidation, about 2 to 1 to the second.
Here is a plain read on a miner that just lost its footing. CleanSpark slid from above 12 early in October to under 8 on Friday, and it closed below the old 8 floor after two sharp down days, which is the market telling you buyers stopped defending that level. This is a swing trade that follows the break lower, with room toward 7.50 and then 7 if sellers stay in charge. The trade is wrong only if the stock climbs back over Friday's high.
P.S. Earnings land November 24, after this expiry, so the trade is about the break itself, not the report.
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