If you have followed recently W, it is up around 8x the lows it made six weeks ago.
This parabolic move is in my view completely unsustainable and it is the result of some hedge fund positioning in 'order from home stocks'. OSTK has experienced a strong move too, but from a much smaller market cap (therefore much easier to manipulate).
AMZN and BABA have been up over the same period 26% and 10%.
First gap fill down to 133 implies a 26.6% move from today's close.
Two strategies:
1) Short W and go long AMZN/BABA to protect position
2) Buy W, buy long dated puts for same delta and sell short term covered calls on spikes each week to fund the put.
This parabolic move is in my view completely unsustainable and it is the result of some hedge fund positioning in 'order from home stocks'. OSTK has experienced a strong move too, but from a much smaller market cap (therefore much easier to manipulate).
AMZN and BABA have been up over the same period 26% and 10%.
First gap fill down to 133 implies a 26.6% move from today's close.
Two strategies:
1) Short W and go long AMZN/BABA to protect position
2) Buy W, buy long dated puts for same delta and sell short term covered calls on spikes each week to fund the put.