ContextLogic Inc. operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish platform that connects users to merchants. It also provides marketplace and logistics services to merchants. The company was incorporated in 2010 and is headquartered in San Francisco, California.
I rolled a good amount of profits from AMC into this stock. I'm in with 1500 shares around $11.85. I'm loving it as a long play but may start selling covered calls at $20 depending on the volatility. The volume is there so no need to panic dump this one if the price retreats. Simply too much volume coming in with high option interest. Stomach the volatility and hold as a no brainer. The way I'm playing this is a hold in the $13-$15 range, will add to the position if I get a chance in the $12-$12.50 range. Wouldn't consider selling anything until $20 minimum though. Just monitor the volume and watch these Thursday / Friday battles as options come into expiry. Don't arbitrarily pick an exit value, let the volume and price action dictate that.
Great post! As a new investor I have not really gotten into share volume yet. Of course I do normally glance at it but I had completely missed it's average volume of 171million shares. Not sure how I feel about 20$ as a sell point, that may be a bit zealous at my experience level, but I will not unload yet. I was originally thinking the 15$ level, now I am leaning closer to the 17$ level as a possible exit. Thank you for drawing my eye to the trading volume on WISH
