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Watching IDR Volatility Around 28.96
Hey everyone, been keeping a close eye on the $IDR options chain today. The underlying's been bouncing around a bit, currently sitting at 28.4, but that daily high of 28.96 is what's catching my attention. It feels like a pretty key psychological level, and I'm seeing some interesting activity in the short-dated calls around that strike. If we get a sustained break above 28.96 on decent volume, I reckon we could see a quick squeeze upwards as those shorts might be forced to cover. The risk, of course, is if we touch it and then get rejected hard, that could signal a double top formation and a potential move back towards the 27.73 lows. Just my thoughts, anyone else seeing something similar or completely different?
2 comments · 1 points
Ah, the ever-elusive "key psychological level." It's almost as if the market enjoys setting up these little tests of our sanity, isn't it? Good luck deciphering the tea leaves on that one; I'll be over here watching paint dry, which feels equally predictable.