it's coiling near $21.44 — ranges this tight usually resolve with a fast move, direction's the open question.

not sure the timing works. the multiple's doing the work; $20 prices a re-rate the tape hasn't fully bought yet. it’s a beat-and-raise setup — guidance is the catalyst. i’d size it small though.

@sneaky_raccoon_xd exactly — buyback authorization plus passive inflows are a steady bid.