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I cashed out a bit of MVIS at $22. Figured I’ll either ride out or just buy more if it dives again.
I saw 2 or 3 entry positions on $MVIS this week but got gun shy because I wasn't confident enough pulling the trigger on it. I'm getting better at reading the charts. Watching it follow through is at least a good learning experience.A new floor is setting up for $MVIS. There is strong buying pressure in the $18's. $17.50 used to be HEAVY resistance, but over the last few weeks, we've been chipping away at it and slowly climbed up. The past couple weeks we have holding pretty strong in the $17-$18 range for the most part. Spiked up today, came back down to the $19's and working our way back up. Today after hours is the preliminary Russell index inclusion (and every Friday up to the 25th). So there's potential of decent price movement after hours.
I bought another few calls for Jun $25 strikes. I'm up about $120 on those 3. Going to see if there's a possible run-up next week and sell them at that time. Next run up, I'll also possibly sell my other call options in the $30's if certain predictions hold true. So far so good. First was a small run-up to $21-$22 area. Next run up will be to the $30's. If it holds true, then we can see the next run-up after that even higher after a little bit of retracement. So if we hit the $30's, I sell my options, wait for a retracement (if the charts looks like it will), and buy back in. These are only on my options.
Also, will see how the run-ups and retracements look and if they are panning out, I will buy and hedge with PUTS for when we retrace. Sell the PUTS at the bottom, then let us ride back up. Money both ways!
One thing with $MVIS was that before it was heavily manipulated. With more institutions backing it and adding to their positions, it became a bit more "sustainable". You can tell as we're not retracing 50 or 60% after a run up anymore. It's more "normal" right now.I saw 2 or 3 entry positions on $MVIS this week but got gun shy because I wasn't confident enough pulling the trigger on it. I'm getting better at reading the charts. Watching it follow through is at least a good learning experience.
Yours and mine. In the last few weeks, unrealized gains went down over 100k. Realized losses were about $5k on options.My MVIS is lookin’ pretty sad today lol
Nothing really. Lack of PR, no updates on the ATM, no news or update on customer or the demo of their Lidar. Shorts are using it and sellers outweigh the buyers. It sucks. I've been mainly buying and selling $SPY calls and puts to make my daily goals while I let my unrealized gains fade from MVIS and let my calls die. Lol. If no news by the end of this week, I'm selling my 7/16 calls for a huge loss.Any reason in particular for the drop?