James Wynn just opened a 10x short on SpaceX 🚀
🔠 Entry: $214.11
🔠 Liquidation: $224.31
Not exactly far away considering how hard this rocket has been flying lately.
🤓 Looking at the chart, I can actually see the logic behind the trade:
📉 The $220-225 area has already acted as a rejection zone twice, and that's exactly where Wynn's liquidation sits. If buyers can't push through that level, a cooldown toward $190-200 wouldn't be surprising after such a vertical move
📈 On the flip side, a clean break above $225 could trigger another squeeze and send the perp into full price discovery mode
The timing is interesting too. We have the Fed meeting ahead, plus the Iran-US memorandum expected on Friday. That's plenty of macro fuel for volatility.
Personally, I wouldn't be surprised by a pullback here.
🤩 But DYOR: shorting one of the strongest charts on the market with 10x leverage is still a bold move