Sep. 10 at 10:43 PM
$QBTS is feeling the heat with that 2.7% drop today
CHIPS Act funding is turning into a dilution and supply story
D-Wave’s recent filing for over 7 million shares resale is a real pressure point
November downside protection is already in play with a big sweep of November
$22 puts bought up
That’s a serious hedge move and it signals caution ahead
Overhang risk is real so think twice before jumping into fresh long positions or calls
Some traders are testing the upside but with this setup, protective puts or spreads might be the smarter play
Keep it tight