Aug. 18 at 9:34 PM
$CRMD
One last post...
Tomorrow;
The buying pressure we saw the last 2 days was in part sparked by the 8.00 puts, that btw are no longer In the money.
MMs were forced to buy shares to remain neutral. I believe there is whale buying. The competition between institutions, MMs and scared shorts is what pushed us above 8.
Shorts tried desperately to push this below 8, that failures was a huge win for longs. 👏
Tomorrow brings about the same problem for shorts, and MMs who will undoubtedly be eying the 8.50 calls.
There are 3200 open 8.50 calls, the equivalent of 320k shares. And only 210 8.50 puts. 15-1 in favor of calls.
MMs are happy right now, both 8.00 puts and 8.50 calls are out of the money.
Tomorrow, shorts will throw big money at the open to try and reclaim sub 8.
I doubt it works. There was a 7700 sell at 8.30 to scare buyers. It will reappear.
If we get over 8.30, MMs will have to buy again. and compete with shorts for shares.
8.97 retest is possible.
