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SPRT

IRNT the next SPRT???I remember my first call of SPRT at 2.6usd, when it one in top 3 most shorted stocks. In few months it skyrocketed to 59usd the dropped to 11.8 before the merger, GREE, which also went down 22% yesterday. IRNT seems to have the same pump characteristics. The fiscal results are modest. Annual Recurring Revenue of $24.1 million compared to $19.5 million at the end of the same quarter last year, for a company with a Market Cap of 2.713Bil. Sure, there is still room to grow before the big selloff, but be aware of the pump and dump pattern.
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by TopgOptions
2
SPRT: Options Contracts Issues Post-Transition to GREEPursuant to a news release issued this morning: (a) "Subject to the terms and conditions of the merger agreement, at the effective time of the merger, each share of Support.com, Inc. common stock issued and outstanding immediately prior to the effective time will be cancelled and extinguished and automatically converted into the right to receive 0.115 shares of Greenidge Class A common stock, plus cash in lieu of any fractional shares of Greenidge Class A common stock resulting from such calculation." (b) "The parties expect the pending merger to close and become effective at the close of trading on September 14, 2021 (subject to the satisfaction or waiver of all closing conditions contained in the merger agreement), and shares of Greenidge Class A common stock to begin trading on The Nasdaq Global Select Market under the ticker symbol 'GREE' on September 15, 2021." In a nutshell, SPRT shareholders will be receiving .115 of GREE stock for each share of SPRT at the close of trading tomorrow (Tuesday). On Wednesday, SPRT shareholders will have GREE shares in their accounts (plus any cash resulting from the rounding off of any fractional shares). So, what happens to SPRT options contracts holders? The Options Industry Council provides an example: " he shareholders of company JKL Inc. have approved a takeover bid placed by Global Giant Co. As a result, holders of JKL stock will now be entitled to .50 shares of Global Giant for every share owned of JKL Inc. Therefore, holders of JKL call options will now be entitled to a deliverable amount of 50 shares of Global Giant for every contract of JKL that they own (100 shares per contract x .5 Global Giant). Investors with short positions in JKL call options are then responsible for delivering 50 shares of Global Giant for every call option assigned." In the case of SPRT contracts, then, they will be adjusted to GREE 11.5 share contracts (100/.115 = 11.5) or, presumably, a rounding thereof. In other words, SPRT contracts that previously "controlled" 100 shares of stock, will now only control 11.5 shares of GREE (presumably rounded to 11, with the .5 shares being paid out as "fractionals"). These "nonstandard," 11-share contracts will float around in the market for a while until they're disposed of one way or another, either by closing, execution, or assignment. Consequently, SPRT options contract holders could be in for a mess if they hold these contracts into Wednesday's session. For one thing, nonstandard contracts can experience liquidity issues, since -- as time progresses -- there's less and less of a market for them. I mean, who wants to trade an 11-share contract? Secondarily (and probably more importantly), we literally do not know the share price of GREE at this point in time unlike where, for example, UVXY experiences a reverse split and we pretty much know where the underlying will open post-split with some relative degree of certainty given the previous day's close. Consequently, it's difficult to determine whether -- relative to GREE's future price action, staying in even a goofy, nonstandard contract could end up being "the thing to do." Put another way, do I want to hang out in 20 strike, 11 share calls when GREE's going to be trading at $10, for example? For my part, I'm going to be exiting my little SPRT position tomorrow at open, even if I have to scratch it out or take a small loss. One thing I don't like is having nonstandard contracts in my account. If GREE turns out to be playable, it's best to start out with a clean, standard contract play.
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by NaughtyPines
4
Opened (Small Account): SPRT October 15th 3/8 SPV*... for a 1.04 credit. Metrics: Max Profit: $104 Max Loss/Buying Power Effect: $396 Return on Capital at Max Profit as a Function of Buying Power Effect: 26.3% Return on Capital at 50% of Max Profit as a Function of Buying Power Effect: 13.1% Break Even: 6.96 Comments: Went with farther out-of-the-money strikes than posted in my Trade Idea (See Post Below). Not that the 10 strike was "bad"; I just wanted more room to be wrong. Generally, will look to take profit at 50% max. * -- Short Put Vertical.
SLong
by NaughtyPines
2
Trade Idea: SPRT October 15th 10 Short Put30-day implied volatility is at a whopping 280%. A trade idea with a ridiculous return on capital at max, regardless of whether you strip naked (i.e., short put) or spread it. Metrics: Notional Risk: $784 Max Profit: $216 ROC at Max as a Function of Notional Risk: 27.6% ROC at 50% Max as a Function of Notional Risk: 13.8% Break Even/Cost Basis in Stock if Assigned: 7.84 Comments: I'm not usually fond of meme stocks, but when I can potentially get 27.6% by selling a 50% out of the money put, well, I just might dip my toe in. As a potential variation, consider spreading it by buying the October 15th 3 for .08 and selling the 10 for 2.16, resulting in a 7-wide that you're getting paid 2.08 for on a buying power effect of 4.92 -- a max profit ROC potential of 42.3%. Point in fact, I kind of like the spread better for defining the risk on a reduced buying power effect. * -- October 15th expiry as of Friday's close.
SLong
by NaughtyPines
2
Stocks - SPRT Short Aug 31 CapitulationIdea for SPRT: PVVol: - Excess rejected outside of daily BB, relief rally stuck on 4H BB resistance. - High Volume rejection, fading volume on relief rally. - Highly volatile 'Final Grand Rush' with rejection. Structure: - Wyckoff Distribution structure, BC UTAD made. Now at possible LPSY, shorting at LPSY is favored to UTAD. - ML diamond both rejected the relief rally, with bearish wicks (high weight). - Gann channel rejections in confluence. - Price has created a symmetric triangle at a gamma pin level. Many times this will be done to paint the 'bull flag', but more often than not it will bleed out at this point. - Contradictory 0.5 fib level support. Fundamental: - IWM/Risk expected to sell-off (+bias). - High IV and call sweep (high weight), but not expecting new highs. - Highly shorted, short float 40.99% Shs Float 15.08M (high weight). In this case, try the puts, never short. Timeframe: - Expecting next wave down Aug 31 which will reach PT: 19. Long Sept 17 38P 14.10 debit Wyckoff on extended hours: GLHF - DPT
SShort
by UnknownUnicorn1043646
4
The Next 3 Extravagant Weeks ahead..!I believe there is a rational correlation between extravagant price moves like what happened in GME, AMC, and recently SPRT spiral and quadruple witching dates! These types of price moves are strange and unexplainable phenomena for newbies..! Let me explain why this phenomenon happens: Stocks with high short interest are often very volatile and are well known for making explosive upside moves (known as a short squeeze). Stock traders will often flock to such stocks for no reason other than the fact that they have high short interest and the price can potentially move up very quickly as traders with open short positions move to cover. 1- What Is Short Interest? Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short interest, which can be expressed as a number or percentage, is an indicator of market sentiment. Extremely high short interest shows investors are very pessimistic (potentially overly pessimistic). When investors are overly pessimistic it can lead to very sharp price rises at times. Large changes in the short interest also flash warning signs, as it shows investors may be turning more bearish or bullish on a stock. (1) 2- What Is Quadruple Witching? Quadruple witching refers to a date on which stock index futures, stock index options, stock options, and single stock futures expire simultaneously. While stock options contracts and index options expire on the third Friday of every month, all four asset classes expire simultaneously on the third Friday of March, June, September, and December. Quadruple witching is similar to the triple witching dates, when three out of the four markets expire at the same time, or double witching when two markets out of the four markets expire at the same time. (2) By now you should have a clear vision about these unexplainable prices movements! I believe with good timing we can use this information to make money extravagantly..! I checked multiple resources and this is a watchlist of the stocks that may experience the squeeze phenomenon in the next 2-3 weeks! www.tradingview.com Be careful this types of price movements have some criteria: 1- They do not last long 2- They tend to be volatile (intraday) because of Algorithmic trading involvment. 3- They experience large Gaps 4- There is a risk of entrapment (look what happened in SPRT on Friday) 5- You have to be careful with volume, they usually experience a trading volume of more than 100% of the total outstanding share! 6- Monitoring the change in short interest is key to success, huge change could be considered as last day! 7- This rationale could explain the reason behind many "Wall Street Bets" moves! for more information please read my related articles: Max Pain or Short squeeze? Is there hidden rationality beyond irrationality? What is "witching" and why is it quadruple? Reference Article: 1- www.investopedia.com 2- www.investopedia.com
NYSE:AMCEducation
by Moshkelgosha
14
Crucial moment for SPRT Is currently in a symmetrical triangle which historically implies a volatile move. Really need to see some more volume from SPRT to give me confidence that the move will be to the upside in the short term. Nevertheless, I'm still bullish SPRT long term but I'm personally waiting trade SPRT until we break this symmetrical triangle. Really love SPRT's business model and I believe the deal to take Bitcoin miner Greenidge Generation public will turn out well for the company. Greenidge will become the only publicly-listed bitcoin mining operation with a captive power source (owns a natural gas power plant).The vertical integration makes Greenidge the lowest cost bitcoin miner with a cost to mine of $2,869/bitcoin and, at times, lets them get paid to mine by selling excess power. This has created the opportunity to buy the lowest-cost publicly-traded bitcoin miner at a fraction of peers like MARA and RIOT, which is why im a long term holder of SPRT. Let me know what you think!
SLong
by Value-Invest
1
Gamma Squeeze..!Based on the trading volume today could be the last day for this stock! Market Cap: 477 M Shares Outstanding: 24.2M Shares Short: 6.18M Short Interest(%): 25% Avg. Volume (10 days): Days to cover: 0 Ownership Breakdown: Institutions: 65% General Public:18% Hedge Funds:5.5% Option profile: Total OI: 222,473 Put Call Ratio: 0.84 Put OI: 106K Call OI: 115K Highest Put: 7.5 Highest Call: 30 Max Pain: 11 Open Int (30-Day): 239,528 I strongly recommend closing your long positions!
SShort
by Moshkelgosha
9
Do We Have SPRT Higher?SPRT has been on an EPIC run. Started as a penny stock and just keeps squeezing and exploding higher. BUT this area that it was recently rejected at is a pretty historic one and I had to pull out the chart way back to the summer of 2011. If you look at where resistance points have been over the last TEN years, You'll see that this $15 area has certainly put up a fight. In both November of 2012 and December of 2013 SPRT was heavily rejected. On top of that, when I plotted a Fib retracement the 236 lines up almost IDENTICALLY with that dotted orange trend line. Now, are these proper levels? If you look in 2013 when it was rejected, SPRT retraced...where?...to the next fib level lower, then bounced. What's more, if you look at the 50 fib, you'll see that plotted on this chart it also has been an area of higher traffic. The big question now is will there be a sell-off thanks to profit taking? Will crypto hype continue fueling the move? Will SPRT make new highs? All good questions and better left answered after checking these levels and seeing what the crypto market does next. "For the first quarter of the year, Support.com wasn’t much to write home about. However, that all changed toward the start of Q2. This coincided with the $35 million settlement with Office Depot in late March. However, this isn’t the biggest story of 2021 for SPRT stock. Support.com’s core business model is providing support solutions for home-based employees. But despite what you may think about this being a reopening trade, there’s more than meets the eye...A strong mix of “short-squeeze” speculation along with cryptocurrency-fueled action has helped spark a surge over the last few months. The company and Greenidge Generation Holdings plan to merge. This tie-up would create a company focused on bitcoin mining operations...When the initial details were announced, Greenidge said it expects the deal will make it the first publicly traded bitcoin mining company with a wholly-owned power plant. With the special meeting of shareholders set for September 10th, it’s clear that the market is paying close attention. Needless to say, SPRT stock has experienced a massive move in the stocks market this year." Quote Source & Read More: 5 Penny Stocks That Turned $2,500 Into Over $29,000 In 2021 So Far
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by PennyStocks101
Ascending Channel on Support.com, Will it Continue?Another one of the epicenter penny stocks to watch right now. Suppoort.com ( SPRT ) has, for the most part, upheld a solid trend over the last 10 months. Even as the markets sold off, technology and cloud computing have survived pretty well. After the latest uptick, however, my focus will be on whether or not there's enough follow-through to make new highs. "One of the specific speculative catalysts behind SPRT stock’s recent move is what these lockdowns have done for traditional brick-and-mortar as well as generally office-centric companies. Many are now connected more now in a virtual setting than they were in an office setting. The company’s live agents and self-support tools troubleshoot more than 10,000 technical support issues consumers and small businesses face on an ongoing basis. Support.com offers technical support solutions and digital support experiences to its customers...Since the beginning of October, the penny stocks has jumped from $1.78 to highs of $2.45 on Friday. Volume has also begun increasing. Will the “new normal” become a “new benefit” to the future of Support.com?" Original Quote: Looking For The Best Epicenter Penny Stocks To Buy? 3 Names To Know
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by PennyStocks101
😯 IH&S Test Breakout. (SPRT)🤔 This one caught my eye based off the fact it has printed a higher high with this potentially being a higher low. Looks something like an inverse head and shoulder pattern. The green line is the Resistance we would like to see breakout for a move up. I'm adding. I'm risking around 8% SL on this one. Daily Timeframe Crossover Strategy: Green Crossover The EMA Dots: 3/3 Green Support Level: 1.19 Resistance Level: Green Line and 1.49 A break above I think we shoot for the 1.49. Which would be a 15% move. Remember to diversify your capital, especially on penny stocks just in case you do have to take the hit. Have an awesome day! ✌ 🥇MLT | MAJOR LEAGUE TRADER
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by UnknownUnicorn2319099
5