SPIN you say a lot of things that seem off the wall to me. (just my opinion) But when you say the risk/reward is in favor of the risk and not the reward, we part company there.
I remember when I was a kid I wanted USC to win a game in the worst way. I bet a dollar on the game with a very wise person that was a very good friend to me. He told me, never bet on who you want to win, but if you bet, bet on who you think will win.
I believe you are so bummed on Wave that you want them to lose to justify your sell. It would not work for you if they should happen to win, which is what I think, not wish, will happen.