First of all, this is how options work when you trade them. You have to understand the yo-yo effect you're going to go through. As for the stock though, GENZ is battling its technical situation right now. The stock got sold off on the virus news. That plays havoc with the open book orders that are sitting out there. You know, open stop loss orders and the computer trading quant funds. They model the trading in each stock they trade in based on how the stock trades. Being that it blew through some support levels, the computers think it's now in a sell mode cycle. So, they trade it accordingly until something breaks it back up into a new leg up.
So, until the technical damage is fixed, which I think would be a close over about $56 or $57, you might get this crazy action in it. However, the chart looks really good as a setup for a spike into the $60s. We now have the Aug calls. I think personally - and don't hold me to it - that these Aug $55 calls will more than triple between now and then. The seasonality is extremely strong in between July 11 and Aug 2. I jumped early on them because of the nosedive the stock did for no reason.
So, don't sweat it. Just sit back and enjoy the ride. One day we're going to wake up to it over $60 and those calls over $10. That's my personaly feeling.
Now on a side note, keep a very close eye on GPRO. It's seasonality begins about now and it looks like if it can break this little falling wedge resistance level around $43.50, it could spike into the high $40s easily. The damn options though are just too expensive to play with little money unless you want to buy the Aug $35s or $40s that are in the money. You could get a double on the Aug $40s which I have at about $4ish.
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