Well looky there...another month, another price pin below that $5.00 mark, once again rendering all those open $5 strikes worthless. In case you forgot, I posted a great case here two months ago as to how writing those May $5.00 calls was a pretty darned good bet. At the time, the bid/ask was .55/.60. Those who wrote the calls are sitting mighty pretty right now...again. Those call holders who are long continue to get slaughtered every month.
Interesting Nomad as always. Last time we broke through the 5 range unfortunately I missed the sell window. Ill be watching the volume carefully this time if we move higher. Its possible the same pattern will occur again and we make a second run at 5.25 which may shatter the roof and move higher? Even if we are to move past the $5.25 5.30 range I see significant resistance right before $6.
Thoughts on the current chart and a possible catalyst such as ASCO