Dealer Positioning:
6) NOPE (Net Options Pricing Effect) on Friday was 22x the 30-day median and accelerated through the day instead of fading.
7) Cumulative net delta: +15.37M shares-equivalent means dealers must hold ~$147M of long stock to be neutral. Firday directionalized. Gamma Exposure of: -$3.99M and today's flow created NEW short-gamma exposure for dealers
8) Monday 5/4 Gamma Cliff - 5/1 held 53% of gamma exposure. Monday morning starts with chain gamma at ~$2.9M vs Friday's ~$6.2M which dealer hedging requirements halved overnight, allowing the same news to move price more dramatically.
9) Smart money rolling from 5/15 to 6/18 straddle (likely for potential IV post earnings)
10) Max-Pain Asymmetry: 6/18 at $10 - institutional positioning
Volatility:
11) On 5/15 expiry at the 0.15 delta point, put IV minus call IV reads -0.27, meaning far-OTM calls are priced at 27 vol points over equivalent distance puts. SOUN's tail call-skew reversal is the structural footprint of persistent retail call demand.
12) Volatility of Vol (VOV) - 97th percentile of its 1-year range
13) Front-month IV (5/8, 7 DTE): ~170%. 240-day IV (~01/2027): ~90%. The ~80 vol-point spread is the steepest backwardation observable in the visible window.
14) SOUN exhibits IV smile, both tails are bid up to roughly equal IVs (~2.0 at 4P, ~1.8 at 16C, ATM ~1.25). Confirms retail call demand has been so persistent that OTM call IV has matched the natural put-protection bid.
Position:
5/15 Call Options going into earnings (Watching to sell before earnings based on price movement)
6/18 Call Options (Watching to buy after earnings from IV crush based on price movement)
I cannot imagine what sort of leverage they must have for SAP/Oracle/Google/Microsoft/IBM or any competent company not stepping in and offering a better solution.
"If their stock is so cheap, that must mean they are going to shit. Terrible buy!l
"If their stock is so high, that must mean they are very successful. Solid buy!"
Hah I mean sure, my neighbor is a prominent cardiologist and I bet he makes over $1M/yr by himself (his house is worth way more than mine). My brother in law is a doctor as well, but he's only making about $350k, it's his wife that has no clue how much money I make and thinks we must be living way beyond our means.
Try to imagine what you’re profit must be just to break even. You took a loan because you don’t have cash. Ironically this type of play is why you don’t gave cash. So now you risk losing your cash and borrowed cash. Let me know how that works out