Mar. 12 at 11:45 PM
$GFI looking strong with a solid 6% gain over the last five days
Today's action saw about
$86M in March 20 deep ITM call blocks hit the ask
This is big institutional money making moves and with zero put flow, the bullish sentiment is clear
But heads up, implied volatility is through the roof on these calls
We're talking around 1000% IV which makes them pricey and time-sensitive
If you're thinking about jumping in, consider if naked long calls fit your risk tolerance or if defined risk spreads might be a better play
Momentum is there but keep those risk controls tight if you're not a fan of riding the wave without a plan
