TopOptionAlert
Oct 24, 9:19 PM
$RIOT NOV06 13C · still actionable
Zone:
$12.44 to
$12.62
Invalidation: close under
$12.44
Objectives:
$13, then
$14
The math: up 3.8% to the first objective and 11.7% to the second, against 0.7% risk on the invalidation, better than 16 to 1 to the second.
Dear friend, picture a stock that has fallen almost half in a month while the business underneath kept building data centers in Texas. Riot closed Friday at
$12.53, just above its Friday low, after a month of steady selling that left the stock oversold ahead of its November 4 report. This is a swing into that report, betting that buyers step in near the Friday low and push the stock back toward
$13 first, with
$14 waiting above that if the report gives them a reason.
P.S. Piper Sandler cut its target to
$19 on Tuesday, and the stock still sits about a third below that number.
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