Expecting a 0.5 fib retrace to 284 in the next week or two. These moves are going to get very fast due to gamma and delta at record levels and put/call skew at record levels (same thing basically). In other words, tons of retail baggies have been buying call options with stimulus checks, and the check is coming due.
Commento:
as per ZH and FT, it was actually softbank (LMAO) that bought all the calls. Some retail baggies did too, but it was mostly SB
Commento:
one more 20% down day and we're there. Probably tomorrow but maybe a bounce in between since we are at a fib level currently (roughly)
Commento:
wrong, it nike swooshed right back up.