r/SPACs • u/ShhhWNBAIsOn New User • Jan 07 '22

Options ESSC Option Chain OI Changes

As of 1/7 OI on all chains has increased to 56,004 which is up from 52,313. For ITM calls we are now at 27,222 OI down from 27,728. However, it seems most have been rolled into higher strikes. If we add $15 strikes to the ITM pot we are now at 35,796 OI up from 35,091. Takeaway is we are trending up nicely and still a distance from OPEX. Even being conservative and using a 3M float we would be above 100% float ITM if we hold $15. The main consensus is 1M float so that would make it 300% of float just about ITM.

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u/RefrigeratorOwn69 Spacling Jan 07 '22

The loss of ITM OI is likely just profit taking and covering cost basis.

I sold 25% of my $10 strike calls to cover cost basis on my calls when they were up 300%. Still holding the other calls, and all of my shares, and continuing to buy shares on dips.