May. 16 at 3:09 PM
What's going on with
$VLN?
After a revenue beat, we are in a high-volatility tug of war
Saw aggressive call buying earlier this week
Now it's hit a 9.5% intraday selloff after a solid 10% 5-day run
Directional traders, this feels like a digestion phase
Might be smart to wait for price and IV to stabilize or use some tight risk options structures
Key play here was the 2,228-contract Jun 18
$5 call sweep bought at the ask
That's a big ~
$89K bet, 51% OTM with over 200% IV
But heads up, it's high risk to mimic without capping downside
Spreads or smaller size could be the way to go
