I think it is an Elliott wave ABC correction. We had the big drop 'A', then the run back up 'B', we need the 'C' wave which ends lower than 'A' did. Once that happens, maybe end of this month, early Sept, LOAD up with long dated March 2021 calls. We will likely see $50+ by the end of the year.
If you purchase $32-35 dollar calls, you could see a 7x return at $50. If it goes to $100, then that return is around 35x.
I'm not a huge fan of Elliot wave, but I hope you are right. I suspect the correction might go a bit deeper and longer though. We've had another pretty decent sell-off just in the last few hours.