RIC joke experienced yet another sucker rise that disappeared by market close
Today's trading action in this RIC penny junk typifies BEAR market action, in which the stock's initial gains in the early day are almost entirely erased by market close....that is pure BEAR market trading action, and you can NOT deny the fact.
The smarter market shorts contrive such phony rises in penny junk like RIC primarily as a means of suckering more amateur dupes into buying the ultimately worthless call options and also providing false hope to those amateur fools who already own the large sizes of RIC call options. There are 1500 Nov 5.00 calls in this RIC tragedy that are 100% certain to expire worthless, and the smarter call writers want to ensure the bagholders who own that position maintain it all the way to ZERO by expiration date. Those 1500 written calls are not an insignificant short position, representing some 150,000 share shorted by the smarter pro call writers. That is a large de facto short position considering the small RIC share float and only a smart market pro WRITES that kind of large position while only POOR amateur gambling imbeciles buy calls in a penny junk stock already priced as cheaply as a call option in the first place.
Sorry to break the bad news to the OCT and NOV call owners, but please enjoy your inevitable losses, I know all smarter market pros are already booking their luxury winter vacations on the back of yet another round of clueless amateur contributions to the cause LOL LOL LOL LOL LOL
Hey insect, you say the whole sector is run by self serving scammers. I don't disagree. I've seen my share of slime ball moves, even by the infamous James Sinclair. Ok, I get it. Here's the point. Why do you waste so much time pontificating on these boards? Are you a missionary? Lol!!