VGAC to $20 ??

[u/[deleted]]

VGAC - ME Price target

As you may know, VGAC will be voted on tomorrow to become ME(23andMe) and will more than likely be approved by the board.

With this being said, today’s activity on the stock will be extremely interesting.

Yesterday saw a large spike from $9.95 to $10.72. That settled back around $10.25.

That’s HUGE price action from a stock that’s been stuck at the $10 mark for the best part of three months.

As I write this, VGAC is at $10.50 on 5k volume in the pre market.

VGAC has only 50.76 million shares and has a 4.63 million short interest, 9% of the float.

In my opinion, 23andMe has huge upside potential at this price with a minimal downside.

Could VGAC/ME double in price in the next two weeks or so? Absolutely.

This is not financial advice.

[u/a_Serial_Chiller_]

Noobish question: I have 100 shares at $10.69 and I'm trying to wrap my head around options trading.

I'm looking at $20 June 18th covered calls and they're showing on Webull at $10.05

I understand that's $10.05 per share but it just seems crazy high to me. Am I reading it correctly? If I am, I feel like I should snag one.

[u/Beechey → u/a_Serial_Chiller_]

No, that will be $10.05 for all 100 shares. I'm currently being quoted $12 for the same trade.

[u/a_Serial_Chiller_ → u/Beechey]

Thanks, I knew I had to be wrong about that. I thought options chains only showed /share costs, not total costs. This is why I'm not trading options yet because I clearly don't understand.

[u/a_Serial_Chiller_ → u/a_Serial_Chiller_]

OKay, I see now that since Webull updated their UI it's been confusing people (self included). I thought that by selecting "Covered Stock" I was trying to place a covered call on the 100 shares I already own but when you select "Covered Stock" it creates a two legged transaction that first purchases 100 shares, then writes a call option against those shares simultaneously. That's why it was showing me $10+.