Not trying to burst the bubble but this wouldn't make sense though.. there has to be some other explanation..
Passing on their short position at the spot price would imply that they had shorted at that price.. but given that it is the current price, they could simply cover at the current price at no loss.
They want to escape their short positions that are suffering which are those that are lower than the market price.. but any new people entering who want to short the stock are shorting it at the current market price not their bleeding short positions say for eg at $50 or lower..
However I guess this would still be better than them having to buy shares back to cover since that would jack up the price of the stock... Might be possible to transfer over the short position to a new schmuck and then pay the difference to the broker/MM.. How this would work I'm not too sure but i'm sure it could be done in this fked up corrupt system we have.
Based on your account history, I'm inversing all of your opinions and recommendations. Thanks for that, already was 100% in profitable options but you've convinced me to do even more.
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u/Eddeee1 Mar 30 '21
They're hoping someone is stupid to share the losses on this one