Option Millionaires

[MNYC]

yup SHLD mega POS. Especially on this big green day in markets. But SHLD float 45% short, if and when there's a short covering squeeze it can be supernova.

I might not touch it or if i go in then with a Calls/ Puts spread.

For now it looks like the bears on this POS might be correct and we see 20's soon.

BUT it could also be a accumulation/ bottom formation here at around 31-32 (give/ take a buck) and then do a 'dead-cat reversal'. Especially since RSI/ MACD is so oversold. They sometimes bounce first before heading lower.

Psychological support is around 30, if that one breaks below then mid/ low 20's coming.