BNGO Holding The Line.

BNGO

With the entire market red today, it is no surprise that BNGO was down. But I see some positives here. BNGO typically has seen enormous drops when the market is red, I relate this to it's high beta (1.87). Today however, BNGO did not see a dramatic drop, instead it stays near the $3.44 to $4.29 range. As I previously mentioned, I think it is important for BNGO to hold these levels. I believe it fails to do so this week, we will see the mid $2 levels by the end of the year.

I will continue to buy up shares at this discounted price and hedge in the short term. I will continue to sell covered calls, to generate income in these uncertain times. Good luck to all!

Current Options Positions
Short Calls - Strike 5.00 @ 1.21, 21-01-2022
Long Puts - Strike 2.00 @ 0.05, 21-01-2022
Short Calls - Strike 6.00 @0.21, 21-01-2022

Current Stock Positions
@5.97
@4.00
@3.69
Average Price: 4.3425
Beyond Technical AnalysisBNGOTrend Analysis

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