$BKKT Bakkt - Bullish Options Flow
BKKT Bakkt Bullish Options Flow - 364M of deep in-the-money Nov 19 calls traded today with earnings coming up next week. Stock bounced off $32 support in the final hour of trading today. On this multi day down move volume has been declining, signaling a possible reversal coming.
Keep in mind short interest remains high on this stock 20%+ so if this gets moving again it could squeeze quickly. This is obviously a high risk, volatile stock recently...so I am proceeding with caution.
Depending how this opens tomorrow I will likely be looking to open a bullish options trade to take advantage of a possible run up leading up to earnings. I will not be holding any position through earnings unless I have partially scaled out and am only risking profit.
Near term target: $54-$60 range possible
NOTE: This is NOT investment advice. Opinion/educational only.
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