$PCG Unless MMs were buyers of these calls and players sold them as a hedge (seriously doubt it), this continues to fluctuate between 9 & 9.5 next week & I continue selling weekly calls against my shares.
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@inevercomment I meant selling calls by customers (buying by MMs) against big ass long position as a hedge which makes MMs net long on calls. That's the only way that PCG can close above $10 or $11 on Jul-31. I doubt it though. I think what you said is more likely. I think that big block of Jul-31 $11 calls 3-4 weeks ago was a buy and a hedge against a big ass short position (as the graph might suggest). In this scenario, MMs are net short calls and when they buy back those calls near exp next week, they sell equivalent-delta # of shares and the pressure on top continues to be there and the price highly likely stays in the 9/9.5 range.
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