High Risk Play: ACHR Pullback to 9.50-9.75 Before EarningsCurrently holding 20 puts at 9.50 strike expiring 21-FEB-25.
I'm looking at capturing a decent pullback from 10.35 close on Friday to around 9.50-9.75 before 21-FEB due to retracement levels, strong support and resistant levels, and the two most recent catalysts:
1. Blackrock's entry announced on 11-FEB-25 at the 8.50 level. This was announced before earnings so as to not hamper the massive gains expected to come from the 27-FEB-25 report.
2. There is no announced reason as to why the underlying is rising to 10.35 before earnings. I think this is a pump before a general market pullback.
Overall I'm bullish on ACHR and will aim to enter $10 calls before 21-FEB-25 provided the underlying does what I am praying for :)