MARA at its peak of 30???

Greetings Mooers and Good day!

Hope you have a wonderful black weekend.

What a ride about MARA! We had seen it peaked to 30 and fall all the way back to 27.42.

Some of you won like Spongebob 🧽 and some of you are like Patrick 🌟

Right let's dive in

Now what is my view about this stock on Monday.

Now Bittie here says 2 things. I am going to see the possibility of a voilatile week again. Both Bulls and bears are at a tug of war!

At this price level, is a push rocket 🚀 above the 100k mark

As there are some of the bulls might have been optimistic and bought at the 99.5k mark.

We could see that level again if prices maintain above 97k.

Bears are really looking at a really huge down side!

It maybe a long shot but possible. If the prices goes all the way down to support levels at 92k and breaks it.

We may see a downtrend to 85k and 80k for next support level.

MARA is currently at the brink of being super bullish and super bearish at the same time.

During this tug of war, at bearish levels of bitcoins, we may see it go all the way to a support of 19 to 20 level range pull back!

However! If good news follows in Bitcoin we may see it goes beyond 30 as thier cost basis from last read for each Bitcoins mined is at 88k which is their breakeven to profitability levels.

1. Still at the support trendline

2. MACD and RSI is at bullish levels where it is above fair value strength and convergence level.

1. Currently candles showing 2 Gravestone doji

2. At this price levels a high volume of holders took profit at the 30 level.

As this is a voilatile stock I am currently placing a Jade Lizard 🦎 options strategy with a dabble of trading within the range using ordinary stock.

What is a Jade Lizard?

It is a strategy where you find the most optimal range to sell a call at the peak and a put at the bottom within that week. Once you reach the bottom, you buy a credit options slightly above the sell put options incase this stocks goes bullish.

Details link below:

So what do I do in between that is different from the Jade Lizard? Here is my twist that is different from the Jade Lizard. In between I took the risk by buying the underlying stock at the bottom. Sell it at the top!

It would be a massively great opportunity if it goes way below my cash secured puts as would be able to use that to collect the shares at a cheaper price!

From that in between, this is where I collect my money as a profit.

How I manage my risk is by placing 100 units as a collateral to protect myself incase the stock goes bullish to cover up my covered calls. If it goes down at least i know my covered calls help me to hedge against it.

That way I don't get too burned! 🔥

One last technique to a twist of my customised Jade Lizard strategy! 🦎

There is one more strategy that I used that is risky! Reposition my stock at a lower price between to collect the premiums!

Disclaimer ⚠️ :Past perfomance doesn't indicate future results.

As I saw the opportunity that it will start to go beyond 27 on Thanksgiving Friday, I decided to take the challenge and took profit at 27.65. As there is a signal to the downside from the ascending triangle in the premarket.

The risk I face is a bullish trend. From a pennant.

My cutloss point is at 27.80 and  Take profit target is at 27.50.

At least from this I am able to profit $10 from this spread.

More details found in my group chat.

Protip! : instead of reading and staring at charts! Put an alarm bell, that way you know when to take profit and loss and sleep on it.

Summary from this trade. To collect profits immediately and take advantage of the spreads!

Alright folks that is all for my sharing on This stock! Have a good weekend! 🥂