To The Moon

$Opendoor Technologies Inc(OPEN)$ $Carvana Co.(CVNA)$ $Zillow(Z)$ 🍿🚪📈 Open and Closed: How $OPEN Became the Meme Dream Trade of July 📈🚪🍿

🏡 The Housing Market’s Crypto Moment

$OPEN Calls, Closed Minds, and Open Profits

This wasn’t a long-term marriage; it was a weekend fling with high volatility and higher returns. I played $OPEN like a piano and exited the swing with the melody still in the air. Because let’s be honest, who doesn’t love a good meme?

Let me take you through it.

🧠 OPEN Season: Retail Gone Wild

From the depths of despair to the top of r/WallStreetBets, Opendoor Technologies ($OPEN) did what few dared to predict: flipped the tape from -65% YTD to green in just two weeks. This kind of reversal is more than just technical; it’s a cocktail of speculative FOMO, bullish call flow, and meme firepower.

When the calls started ripping at the open on 18Jul25, you could almost hear the sound of short sellers choking on their margin calls. More than $6.6M in premiums traded before midday. Net call premium alone cleared $1M. The wick fill to $2.20? Picture perfect. Within hours, it broke intraday highs and tested key resistance zones between $2.20 and $2.55, with $3.09 tagged as the next meme magnet.

This thing’s not trading on fundamentals, it’s trading on vibes. And those vibes are caffeinated.

💥 From SPAC Star to Penny Pit… and Back?

Let’s rewind. $OPEN debuted in late 2020 with iBuyer hype and Zillow envy, eventually topping out at $39.24 in Feb 2021. But by May this year, it was trading at just $0.51.

Enter Eric Jackson: hedge fund manager, meme revivalist, and Carvana bull turned Opendoor prophet. His public thesis last week was the ignition fuel. The TL;DR? No competition left in the iBuyer space. Redfin? Gone. Zillow? Tapped out. That leaves $OPEN with the same solo spotlight Coinbase had post-FTX collapse.

His base case? Positive EBITDA on the horizon, $11.6B revenue by 2029, and yes… “potential 100-bagger” upside.

That was enough to light up Reddit, FinTwit, and every options scanner on the street. Posts on $OPEN surged across WallStreetBets, with memes flying faster than market orders. The stock doubled in a week.

📊 Technicals + Sentiment = Speculation Supernova

Let’s talk price action:

• Reversal breakout from a year-long downtrend channel

• Intraday wedge breakout with near-perfect ascending triangle structure

• MACD bullish cross, RSI trending above 89 on the weekly

• Fibonacci magnet zones at $2.55 and $3.09 tagged in multiple chart systems

And the options activity? Nuclear. Retail is crowding the contracts like it’s 2021 again.

Then there’s the short float. With over 25% of shares sold short as of 30Jun25, this is textbook squeeze fuel. Combine that with limited institutional resistance and broad social media cheerleading, and you’ve got the makings of another speculative legend.

📉 Valuation Check: Still Speculative

At Friday’s closing price of $2.03, $OPEN is trading at a Price/Sales ratio of just 0.28. That’s lean for a company guiding toward $11.6B in top-line revenue by 2029. But let’s not forget, this is still a company with negative ROE (-47.67%) and trailing EPS of -$0.56. The fundamentals remain challenged, but when narrative takes control, value becomes secondary.

🏡 Fundamentals Still Matter, Just Not Right Now

Sure, Opendoor’s business is fighting headwinds. High mortgage rates, low transaction volumes, and an uncertain housing outlook remain. But here’s the nuance: this isn’t about today’s numbers. It’s about the possibility of what’s to come. Jackson’s thesis leans on a classic market memory lapse: things do change. When macro tides turn, $OPEN could be one of the only boats still afloat in the iBuyer ocean.

Does it deserve this run? Probably not.

Will it continue? With meme momentum, anything’s possible.

🧠 Conclusion: My Trade Was Short, The Lesson Is Long

I wasn’t here to find the next Berkshire Hathaway. This was a precision swing for maximum impact. I opened $OPEN and then I closed it, clean, fast, and tactical.

This trade wasn’t just about making a quick profit; it was about understanding how narrative, social momentum, technicals, and crowd psychology intersect in real time. Sometimes, the charts align. Sometimes, Reddit catches fire. This week, both happened.

And I was there for it.

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Trade like a boss! Happy trading ahead, Cheers, BC 📈🚀🍀🍀🍀

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