Update 3 on this trade. Two previous here:

Long $10, $15, and a small moonshot $25 August 20 calls

After shaking off near bankruptcy, Revlon is overlooked as a turnaround business. Reopening, high insider ownership, and a very healthy short to float ratio provide the stock near-term catalysts to get back to historical valuations.

One thing about low float stocks exactly that, low float. They move, but it's on low volume. Swings can and will make very little sense intraday. I knew this going in, however, I didn't realize how divorced options prices would be from the stock due to this, just simply because there is no open interest. Essentially, so far, as the stock has risen, a tree has fallen in the forest and it's confirmed that it does not make a sound. Currently down a little over 20% as the stock sits about 5% up since my original memo. A lot of that is due to a reduction in IV after earnings, but as I mentioned..most of these August calls aren't moving. It seemed the market was catching on when things moved from $10.50s to $13.30s after earnings, however we've since come back down and settled in the $12, give or take 20 cents either way for the most part(as I write this we're about $11.70) Keep my eye on the trends but overall still positioned for the this to be a summertime stock.

Still bullish, learning things a long the way!