Posted this back on October 20 after recent options expiration. The details of the charting and price movements should help inform #PROGGERS in order to give conviction to #SqueezePROG
Not really DD, but just some pay observations I made that prove I'm not a complete dimwitted degenerate who only pretend to understand the stock market.
I predicted two of $PROG's major moves before they happened, not to mention the $AMC June sneeze
And my attempt to call out investor place author @Tsiash1 who published a stock basing article on $PROG last week in order to convince retail that it's worthless.
I still have not gotten a response to my challenge against his shit research.
It's kind of funny, but I left my phone on silent and slept in today.
Glad I did. Seeing $PROG at $5 when I finally woke up was immensely satisfying.
Gamma still incoming. We need to hold $4.20 today and maintain the momentum. More options have been bought and exercised ITM.
I actually sold 50% of my $5/$7.5 that I was holding for 11/19 & waited for a dip, full disclosure.
As it turns out, I now have an even BIGGER position in $PROG because of these calls, and I have enough buying power in all my accounts to exercise all my ITM calls for Fri.
Reason why I sold those OTM calls is because we had a huge volatility spike, so I know that I can sell them for profit and buy them back cheaper when the stock relaxes, which it did down to $4.25
I've spent hundreds of hours researching $PROG and it's a solid investment. I'm not recommending anyone sell their stock to buy in. It's simply a good play.
Frankly, the whole "distraction" argument makes no sense to me...
Investors don't play in the stock market to pick a single stock forever. They buy value where they see it, and I see value in $PROG.
You can make whatever argument you want, but there is nothing wrong with people investing in other stocks in order to build wealth.
Yes, $AMC is important.
Yes, $GME is important.
Yes, they both can squeeze.
Yes, there can be a MOASS.
It takes money to drive a stock up.
So while I'm waiting for them to squeeze, I'm going to continue making plays in other stocks that are more volatile so I can make money.
$PROG Take a look at the difference in the OI on the ITM strikes.
Do you see the lack of volume, and yet the OI dropped dramatically?
That means people exercised their options in massive numbers.
T+2 days from now (Wed), those shares will be forced to deliver. This is bullish.
Image on the left is from last week.
Image on the right is from today.
The FUD factory at InvestorPlace is working overtime.
We are going to #SQUEEZEPROG
Be patient and hold. We got this.
I'm buying shares and OTM calls.
The reason why this matters is because naked calls that get exercised early force the seller to buy stock at market price before T+2 to cover those calls. The more ITM calls exercised before close on Wed, the more shares that have to be bought before Friday.
Market makers and shorts know that this options all is the best chance for a squeeze on $PROG. There are hundreds of millions of dollars betting on a squeeze this week.
If we overwhelm them, they can't stop it.
We need frenzy buying unlike anything they've ever seen.
Do you really have that much hubris that you don't think that retail investors can research this shit too?
If you spent more than thirty minutes moping about having to write something about a stock you didn't know anything about, you'd have realized this company is ready to pop.
You should have noticed that this stock has been shorted by 30% of its free float since it was trading under $1.00 less than a month ago, and that the short reports have continued maintaining.
If you looked at options data, you should have seen the PCR is 0.14 and OI of 250k
I'm not saying a sell off is gonna happen for certain, but I definitely think that $PROG holders will have their conviction tested harder than ever. Power hour is coming and the volume is still lowest it's been in weeks.
The following is absolutely not financial advice...