“Buying Options is for Stupid People on a Stock This Cheap”
Liz here, missing Tom’s Ghostbusters team, who are out of pocket today…dealing with ectoplasm, I assume.
Pip and I are having a bit of a rough day as well, so I’ll keep this brief.
Mark gallantly stepped into the breach with a play on a stock that’s, in his words, “been on a one-way trip to pooptown lately.”
Mark is just full of great one-liners (the headline is one of them).
He sees a short squeeze move to the upside coming…
If I Felt Better, I’d Make Tons of Jokes About Buying A Cheap Stock on Wish
Mark’s play today is ContextLogic Inc (NASDAQ: WISH), the shady ecommerce platform that’s the brunt of endless jokes like these:
You get what you pay for, evidently.
And Mark has this question:
“Why is someone paying .44 for calls on a stock that costs $1.95?”
He then went on a mini-Slack rant:
“The stock has been on a one way trip to pooptown. The stock is moving more than the options.
“This could be in line for a short squeeze higher on the next strong market move”.
Just in case, I asked him if he had any options he liked – and he responded scornfully with my headline.
“It’s a $1.95 stock. Buying options is for stupid people on a stock that cheap.”
OK, then.
That’s a pretty easy Nickel Slots:
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NICKEL SLOTS: MARK
Action to Take: Buy and Hold ContextLogic Inc (NASDAQ: WISH). |
I’ll be back tomorrow with your MONEYSCORE and, as always, a Supremely Unhelpful Movie Review.
Hang loose!
Liz
June 10 2022
