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MRNA: This was ugly today. Was watching the action for a bit, steady quiet refresh offer all afternoon on SSR so someone was loading short. Very likely continues to fade, they offered at $19 so could easily float back down near that level in coming days. I’d treat all strength as short opportunities until it stops working like today. Ideally would like to see an open push and fail around low 26s, but wouldn’t be afraid to still try the idea if no early shove. Name gets thin when it wants so be smart with size, room for little adds within your plan, etc.
AIM: Fade the open look type – weak open low 5s for potential long scalp, or 9+ out of gate for a short scalp, definitely quick trades there, you have to lock in on a name like this or you’ll get punished most likely, patience not paying in this environment. Reassess mid morning for secondary trade as there will definitely be one.
SPEX: Hopeful for morning shove into mid 3s and expecting that to fail for a secondary short trade here.
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See you out there!
– D
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