funny stock to track is the old PLS.... 2 charts here, 1 is the...

funny stock to track is the old PLS.... 2 charts here, 1 is the daily and the other the 1 hour chart. I don't normally look at the shorter time frame charts like hourly, 15 minute etc but sometimes they can show a turn in sentiment, as long as that is consistent across 3 or so otherwise its just a bit of confirmation bias. I find with options it's best to look longer as it reduces a bit of risk, options work when you magnify existing risk or exposure rather than just think that its a big punt, I try to mitigate risk as much as possible as downsides blow out quicker than upsides most of the time for me. Always good to assume you're wrong...you can always buy the opposite bet in options.

Anyway... daily chart of pitchforks and heinekens looks like a new pitchfork is in play which is the red downtrend starting from a previous high, across to the next high and then anchored off the break in the next high's down trend so you get a set of 3 anchor points for a pitchfork. Interestingly enough it has balanced out on a black pitchfork that is from 2021 up to $5.61 and down to that $3.50 or so anchor point. maybe it's going to take a breather here? If not it's a chance for $4.25 or so or below. If not then it could still hop up soon and move up a bit while still traveling down on the red downtrend arm. Dunno? I did think about recycling some PLS through $4.80 puts today but didn't pull the trigger... if its down again tomorrow I think its a bit down for a bit and as I hold PLS longer term in my Super I'll probably clear the trading parcel out at $4.80 and buy some calls at whatever the price gets to tomorrow. LTR bid should have some sort of impact on PLS given LTR is not a producing, dividend paying mine and PLS is... I do think there should be more in the PLS share price given the low AUD and the current M&A that's around the place... looks like the current $4.90 and $5 calls are gone given they need 60c+ upwards by Thursday afternoon... not impossible but less likely.. lucky the puts are in play!



so for a bit of a sanity check I've also had a bit of look at the hourly chart as sometimes PLS can shift red to green on these times... the volatility is nuts..
There is a decent gap (in the red box at the bottom) between the thick black line in the Slow Stochastic and the thin black and red... even though the movement looks up it isn't really.. as that gap closes then there is usually upward ahoy type events, the daily slow stochastic is quite the opposite of the hourly so maybe just a bit of a flutter than a running of bulls.. might get a bit of a sugar rush tomorrow but maybe not.. tomorrow might be a chance to reset some puts and calls to get a look at capturing the next leg of hopefully upwards movements.

Lots of shares are shorted but that doesn't mean that they are all going to get bought back in a hurry.. depends on margins and outlooks etc.. Li price isn't great, CAPEX is always regarded as worst case until proven otherwise, AUD is an indication of what the market thinks about China's economy given how much raw material we export there... lots of negative reasons to stay low.. market is probably looking for a trigger like another deal in Australian mining or a pick up in Li prices... dunno? if it is stable tomorrow then maybe a good time for new puts and calls. No clear path at the moment but still one beset by crazy volatility so still a chance to be both right and wrong and profit either side of the bet...


No idea about final prices... $4.80 puts are worth 42c or so from 6c buy, $4.90 and $5 calls wiped out at an average of 5c between the 2 so... up on paper on down swing this time round but didn't trade so nothing banked = all bit of talk... dunno?