DWAC Dead Cat Bounce

If Elon Musk doesn`t buy Twitter, that doesn`t mean he`s affiliated with Truth Social.
If you haven bought DWAC they announced the merger:
or short it at $55:

then this rally today seems to me the perfect opportunity to buy $10 puts expiring early 2023.

Not because i don`t believe in the project, but because it`s overvalued at this point.
The market cap should go down.
You can buy most of the SPACs lower than the original price.
I think this will be the case with DWAC too by Jan 2023.

Looking forward to read your opinion about it.