Mooster,
Speaking of timing, on this full moon tinged triple witching, CYGN's max pain resistance level for this Friday is $10:
quote.cboe.com
Note that there are large open interests in both near strike puts and and calls. Could be some interesting action in the next couple of days. Technically, if CYGN and NAZ can endure the week, with CYGN holding 9+, it might be construed as a bit of a flag that could yield a bit of breakout. Given the lackluster launch plans, I would expect any such spike to be short lived and would write another round of calls. The caveat: these new hires might initiate more aggressive plans. I sure hope so.
Personally, I wouldn't mind seeing more turnover at higher levels. I can see why Auric called for shorting this stock. Insiders have been selling with uncanny timing. They knew the announced launch plans wouldn't help the stock. At least the selling has apparently been done for several months. Even more encouraging, if I'm reading my filings correctly, Ackerman exercised options . . . and hasn't sold yet. Slightly bolsters my thinking that plans for a faster roll out could be coming. I'd like to see more evidence of buying before I give that possibility a lot of credence, though. The short interest, though still high, has declined slightly per Yahoo! Such a marketing change could restart a squeeze.
This should be one entertaining stock, whatever happens.
Cheers, Tuck |
