A $1.18M sweep of June 18 $2.5 calls (7900 contracts) occurred near the close after a 70% drop to $3.81. Deep ITM calls have minimal time premium; a bounce to just $6 (still below analyst targets of $8) yields ~130% return; market cap at $600M vs $380M EBITDA suggests deep value. Follow the “smart money” sweep; bet on a mean reversion/short squeeze as panic selling exhausts. Avis contract loss is real and structural; other customers may follow; $135M+ revenue hole may not be filled quickly; further downgrades or liquidity issues.
A $1.18M sweep of June 18 $2.5 calls (7900 contracts) occurred near the close after a 70% drop to $3.81. Deep ITM calls have minimal time premium; a bounce to just $6 (still below analyst targets of $8) yields ~130% return; market cap at $600M vs $380M EBITDA suggests deep value. Follow the “smart money” sweep; bet on a mean reversion/short squeeze as panic selling exhausts. Avis contract loss is real and structural; other customers may follow; $135M+ revenue hole may not be filled quickly; further downgrades or liquidity issues.