There may be some excitement coming as the decline’s have taken prices to the $2.00 area which is a very large position in open interest. The break down through the level will take March considerably lower and the puts are forced to cover. Best idea from here is to sit on the sidelines — let this extreme over sold movement conclude as it seems more about the decline in general rather than fundamental input.
Major Support: $2.00, $1.795-$1.766 Minor Support: Major Resistance$2.34, $2.61, $2.657, $3.536, 3.595
