Sentiment is terrible across the entire space, the Bitcoin Fear and Greed Index was at 30 when I looked earlier today.
NAKA in particular looks awful.
Last month we added it as a supplemental play – and now we’re down a good 40% or so on that.
Be that as it may, it’s trading at an mnav of 0.48(!) – which, I’ll admit, I’m too weak to resist.
As I type this, November 21 $1 calls are trading for about $0.10 ($10 per contract).
Let’s be clear: this is a highly reckless, irresponsible trade and everything you put into it will likely be a zero.
But I’ve been wrong before.
Overall sentiment could be improving, and I won’t put it past David Bailey to pull something out of his hat that improves the outlook for NAKA.
If it pops: be prepared to take profits as soon as you see a decent gain – do not wait. I may be on the road when it happens and unable to email the list.
That’s it for now.
