Price Forecast:

Bullish Case: Riot's high implied volatility indicates strong price movement potential. Positive crypto sentiment, regulatory clarity, and increased mining efficiency could push RIOT above $15, capitalizing on historical rebound patterns.

Bearish Case: Continued macroeconomic uncertainties and regulatory pressures could drive RIOT below $10, hindered by broader market sentiment and competition within the mining sector, especially if Bitcoin underperforms.

Potential Outcomes:

1. RIOT rallies to $15 (30% chance): Improved sentiment and news.

2. Stays within $11-$14 (50% chance): Range-bound amid volatility.

3. Drops below $10 (20% chance): Negative market sentiment dampens demand.

Trading Oracle: Consider executing a bullish call spread by buying the RIOT $12.50 call and selling the $14.00 call, targeting profits as volatility decreases. This strategy presents a high probability of profit with an attractive risk/reward ratio in a likely bullish scenario. Aim for a target profit of 25% within 30 days.

November 17, 2024