$LCID: Short it once again...NASDAQ:LCID offers a very good reward to risk short position. Here's the breakdown: after thorough analysis, I've identified a target of $2.27, aligning with a timeline that stretches to December 15th, 2023 as per Time@Mode. Be aware of the pivotal level at $7.51, which essentially functions as the litmus test for the very viability of this entire maneuver. Should the price surge past that threshold, it's a signal to initiate a reevaluation of the strategy, or simply put: GTFO the trade.
Now, let's delve into the logistics: shares are currently in short supply, so entering short positions is an exercise in futility. However, we can utilize OTM put options. A sufficiently far strike price with an expiration date of January 19th, 2024, might very well hold the key to capitalizing on this anticipated market move. The crux of the matter lies in strategically employing these options to ride the wave before it reaches its zenith and we get a gamma explosion as the OTM options go ATM.
Best of luck!
Cheers,
Ivan Labrie.
