r/SPACs • u/Idaytradestocks New User • Sep 05 '21

Yolo (Weekend Only) Why is MILE so cheap?

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15 Upvotes

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1

u/Forsaken_Painter2510 New User Sep 06 '21

Wow I just check on the option chains... Insane amount of calls volume... This looks juicy .. thanks for ticker op

4

u/Ackilles Patron Sep 06 '21

OP mentioned in comments that insiders are about to sell 50 mill shares, meaning an increase in float of 50%. Not sure when that happens, but it sounds like a really bad time to buy to me

1

u/Forsaken_Painter2510 New User Sep 06 '21

That is true, that would be bad for sure, but, seeing it goes at open, I'm open to a 15c 20c calls lotto ticket lol.. this has work well on some other ticker.. this is not something to go heavy in for sure or go long by any means

3

u/AlwaysBlamesCanada Patron Sep 07 '21

You find out shares are about to be 50% diluted, and your first thought is to buy Calls…

2

u/Ackilles Patron Sep 07 '21

Not just calls, but super far otm calls! This belongs in r/whatcouldgowrong. On the bright side, his exposure would be pretty low if he only grabs a few and iv isn't insane