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Thoughts on $SI and that 18.65 level
Been watching $SI today and that dip to 18.65 caught my eye. It rebounded fairly quickly, suggesting some decent buying interest there, or at least a lack of conviction from sellers to break it lower on the first touch. I'm wondering if anyone else is seeing that as a potential short-term support level? If it holds and we get another bounce from there, it could present an interesting opportunity for a defined-risk bullish options play, maybe a call spread, but obviously a sustained break below 18.65 on heavy volume would invalidate that whole idea pretty quickly.
1 comments · 2 points
I'm with you on 18.65. The volume on that bounce was notable too, suggesting it wasn't just a dead cat. Definitely on my watch list for the next couple of sessions.