That “theory” is a joke
It’s been going down several days, therefore it must go up?
Preposterous!
SNDL has been on a red streak for the ages. There is nothing stopping this stock from continuing to crater except a stellar earnings report or US legalization/rescheduling.
And to add to the misery, SNDL is often down 5-10% per day whereas more stable peers are only down 1-2%.
As if that wasn’t bad enough, options premiums are so low and share price is equally so depressed that there is little left to hedge here. I’ve sold calls through Jan 21 and have even been covering some as SNDL drops but there is so little premium that reselling the covered calls makes little sense.
This is pretty miserable.
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