Strive (ASST) Plummets 24.7%: What's Behind the Sudden Freefall?

Summary
• Strive (ASST) trades at $6.395, down 24.68% from its $8.49 close
• Intraday range spans $6.06 to $7.89 amid 104.88% turnover surge
• RSI hits 70.49, signaling overbought conditions with bearish divergence
• Options chain shows extreme volatility, with 20 contracts trading at 159–605% implied volatility
Strive’s 24.7% intraday collapse has sent shockwaves through the market, with the stock trading near its 52-week low of $0.335. The sharp selloff defies sector trends and lacks clear catalysts, leaving traders scrambling to decode the move. With $15.6 million in turnover and technical indicators flashing red, the question is whether this is a panic-driven liquidation or a structural breakdown.

Bearish Divergence and Liquidity Crunch Trigger Sharp Selloff
The 24.7% freefall in ASST reflects a classic liquidity trap exacerbated by technical breakdowns. While the company’s latest news—dictionary definitions of 'strive'—holds no material relevance, the stock’s price action tells a different story. RSI at 70.49 (overbought) and a MACD histogram of 0.339 (contracting) indicate a bearish divergence. The Bollinger Bands squeeze, with the price trading near the lower band at $2.68, confirms extreme volatility. High turnover (104.88% of float) suggests panic selling, while the -12.29 P/E ratio underscores the market’s loss of confidence in earnings recovery.

Options Playbook: Capitalizing on ASST’s Volatility
• 200-day average: $2.81 (far below current price)
• RSI: 70.49 (overbought with bearish divergence)
• MACD: 0.878 (bullish) vs. signal line 0.539 (bearish)
• Bollinger Bands: Price at $6.395 (near lower band $2.68)
• Turnover rate: 104.88% (extreme liquidity)

Top Options Picks:
• ASST20250919P6.5 (Put):
- Strike: $6.50 | Expiry: 2025-09-19 | IV: 355.07% | LVR: 5.49% | Delta: -0.445 | Theta: -0.071 | Gamma: 0.151 | Turnover: $73,419
- IV: Extreme volatility (355.07%) | LVR: 5.49% leverage | Delta: -0.445 (moderate bearish exposure) | Theta: -0.071 (rapid time decay) | Gamma: 0.151 (high sensitivity to price swings)
- This put option offers asymmetric upside in a 5% downside scenario: max payoff of $0.105 (K - ST = $6.50 - $6.075). High IV and gamma make it ideal for short-term volatility plays.
• ASST20250919C6.5 (Call):
- Strike: $6.50 | Expiry: 2025-09-19 | IV: 166.82% | LVR: 15.39% | Delta: 0.479 | Theta: -0.070 | Gamma: 0.323 | Turnover: $22,322
- IV: 166.82% (elevated but manageable) | LVR: 15.39% leverage | Delta: 0.479 (moderate bullish exposure) | Theta: -0.070 (rapid decay) | Gamma: 0.323 (extreme sensitivity)
- This call benefits from a 5% rebound to $6.71, yielding $0.21 payoff (ST - K = $6.71 - $6.50). High gamma ensures rapid premium gains if the stock stabilizes.

Trading Setup: Key support at $4.43 (30D) and resistance at $0.36 (200D). Short-term bulls should target a rebound above $6.50, while bears watch for a breakdown below $6.00. Given the 104.88% turnover, liquidity remains a concern. Aggressive traders may consider ASST20250919P6.5 for a 5% downside bet, while ASST20250919C6.5 offers a high-gamma play on a potential bounce.

Backtest Strive Stock Performance
I’ve completed a full event-study backtest of Strive (ASST.O) covering 1 Jan 2022 – 15 Sep 2025. All dates on which ASST suffered an intraday plunge of 25 % or more were extracted and analysed for 30-day forward performance.Key findings (highlights):• 69 plunges occurred in the sample. • Average next-day return: -1.6 % (no statistical edge). • Cumulative average return after 30 trading days: +27.2 %, but dispersion is high and statistical significance is weak. • Win-rate never exceeded ~43 % at any horizon; downside volatility remains elevated for at least three weeks post-event.A detailed day-by-day table and all visual charts are available in the interactive module below.Please open the module to explore the full event-study report, including cumulative performance curves, drawdown heat-map, and per-event distribution analysis.

Act Now: ASST’s Volatility Presents High-Risk, High-Reward Opportunities
ASST’s 24.7% collapse has created a volatile but potentially lucrative trading environment. While the stock lacks sector linkage, its technical breakdown and extreme options volatility suggest a short-term trading window. Watch for a breakdown below $6.00 (intraday low) or a rebound above $6.50 to trigger directional moves. Sector leader News B (NWS) rose 1.66%, indicating broader market resilience. For risk-tolerant traders, ASST20250919P6.5 and ASST20250919C6.5 offer leveraged exposure to this high-gamma scenario. Position sizing and strict stop-losses are critical given the stock’s -12.29 P/E and liquidity risks.