Oct. 25 at 5:17 AM
$RXRX
In many optionabke stocks I’ve seen, if there’s a resistance level set up at a full dollar price (like
$6 for RXRX)
$BBAI cones to mind, or
$LAES, no matter how many times they push it to that level and tease bulls it’s gonna break through, they feel it back. Before the Friday OpEx.
Doesn’t matter the volume or OI. They may even let the price get through intraday, but ultimately they get it back under.
It’s that one Friday where they close above, and the calls finish ITM that signals the bears are beaten. The following week shows a strong move up to new levels.
That happened here today. And if you were watching the late trading you saw the kind of shares they were selling onto the bid. Especially in the last 5 minutes. But it held.
So I probably jinxed myself in saying all this, but if such trading holds true to what I’ve seen, the bulls should now be in charge. They showed that into the close Friday. It was a message to bears.
