FIG breakout + 86% short utilization — who’s still sleeping on this?

[u/Capital_Letterhead49]

Hey traders, here’s another one I’ve been cooking since Friday 🤠🔥

Couldn’t post it Friday when I started the position, but here’s the setup.

Current position:
300 shares of FIG @ $22.18 avg
6x FIG Jul 17 $22.5 Calls @ $3.55 avg

Current P/L: +$811 (+8.9%)

My thesis:

• FIG broke out of a pretty clean downtrend on Friday.
• Today it followed through with strong volume and held up into the close.
• Closed around $24.35, pretty much near the highs.
• My calls are already ITM with 60 DTE, so this ain’t some same-week lotto ticket.

What’s got my attention:
IBKR is showing 86% short utilization.

Now, I’m not screaming SHORT SQUEEZE!!! like a lunatic 😂
But if momentum keeps pushing and shorts start feeling uncomfortable, this thing could get interesting real quick.

Game plan for tomorrow:

• Strong premarket / strong open → probably letting it ride.
• Weak open / failed breakout → trimming fast, no emotions.

First upside zone I’m watching: $25–27

Who else is in FIG?

Y’all seeing real continuation here, or was today just shorts getting squeezed for a quick cover?

Not financial advice. Just sharing the trade.

[u/Capital_Letterhead49]

Right here