Watching $WOLF after that 10% dip today down to 40. IV seems to have spiked a bit, and I'm looking at potential credit spreads around 43-45 for next week's expiry, assuming it doesn't break below 39. That would invalidate the short-term thesis.
Ah, the classic post-dip IV spike – almost as predictable as my impulse to check if I left the stove on. Credit spreads sound like a reasonable play if $WOLF decides to respect that 39 floor, otherwise, we're just playing expensive lottery tickets.
Interesting play with the credit spreads. Are you seeing consistent support around 39 on a larger timeframe, or is that more of a recent technical level you're keying off of?
Interesting play. Do you have a catalyst in mind for a rebound to hold that 39 support, or is it purely a technical setup on the IV spike?