Thoughts on my strategy?Hi everyone,
I've made a plan for myself on what to do with my WEED holdings, and I wanted to explain it here to see your thoughts.
As we know, NYSE is coming very soon, and I strongly believe we will see $50+, and maybe even into the $60 range before the June 7 vote. If this happens, I would like to sell and take some profits before the June 7 vote.
Assuming the stock reaches high $50 - low $60 range, I beleieve it will be over valued, and the new ATH will not hold for more than a few days. This is when I plan to sell (Before June 7, after NYSE).
After selling (assuming all goes as predicted), What are your thoughts on buying puts at the high $50 - low $60 range, and covering once the stock inevitably drops to more reasonable levels?
I feel like it could be a double whammy and good opportunity to make serious gains (sell near ATH, buy puts with strike price at ATH after June 7 vote).
Following all of this, I will buy in again once prices settle down.
I'm not an expert by any means, so I wanted to see your thoughts?