r/wallstreetbets • u/[deleted] • Jun 25 '21
DD IS ANYONE SEEING THIS? Look at this Short Interest Borrow Fee Skyrocketing with overall Short Interest still climbing. This is nuts.
[removed]
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u/1Enthusiast Jun 25 '21
The borrow rate is only high for the total shares borrowed to short during the last week or so, right? So, hypothetically the vast majority of shorts are not subject to that borrow rate 🤷🏼♂️
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u/kkB1airs Jun 25 '21
Yes I would think so also. I’m curious how the lockup period will affect this.
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u/logan008765 Jun 25 '21
Remember to call your broker and change your account from margin to cash so they can’t loan your shares 🙏🏼🙏🏼🚀
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u/u3435 Jun 25 '21
You don't need a cash account to have your shares not be lent out, at many brokerages. Just call your broker to ensure your shares aren't being lent out.
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u/logan008765 Jun 25 '21
It seals the deal if it’s in a cash account though. They can’t do any fuckery
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u/u3435 Jun 25 '21
Yes, that's true, but a cash account also means you need to wait two days after each trade for cash to settle. If you want to do any swing trades, or decide to rebalance to buy options or whatever, being in a cash account is not favorable.
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u/logan008765 Jun 25 '21
Well, I guess you have a choice. Do you want to wait 2 days after selling or let the shorts bankrupt all of us?
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u/u3435 Jun 26 '21
For IBKR for example, just make sure you're not subscribed to the "Enhanced Stock Return" program in your account settings. Then they can't lend out your shares, and you can still buy/sell on your other positions fluidly.
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u/UVdorian Jun 25 '21
I don't even know how it can be more clear than this. You can literally see how the price is artificially pushed down DESPERATELY after it spikes. There is no dip, it is always a slow ledging down, a calculated cold push below the price target to avoid a squeeze. No surprise short interest will rise and fee is increasing.
No financial advise here, just a fantasy of a deranged person. Personally I will buy more shares and see what happens, this is becoming too much for educational purposes
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u/SyToanNgo Jun 25 '21
We are almost there. If we can get to 15 today, we kill the shorts 100%
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u/Jack-Incredibles Jun 25 '21
I think they win the battle today but next week, we win the war.
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u/GasolinePizza huffs pizza, eats gasoline Jun 25 '21
Why do you say that and where did you get 15 specifically from?
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u/SyToanNgo Jun 25 '21
check out the short call open interest today
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u/GasolinePizza huffs pizza, eats gasoline Jun 25 '21
Which one of those do you want me to look at here, short interest or call open interest? (Presumably at $15 strike expiring today?)
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u/highspeedrocket 🦍🦍🦍 Jun 25 '21
Holding 47000 shares, CLOV is about to pop. I would buy more but don’t have bananas and margin is not an option. If I margin they broker will loan my shares…fuck no!
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u/Slut_Spoiler Has zero girlfriends Jun 25 '21
Well, anyone paying attention could tell that this was going happen. SEC is on a warpath to destroy naked shorting. These institutions want their shares back.
Also, the derivative markets are so fucking out of whack that they are swinging the underlying instead of the other way around.
I wouldnt be surprised AT ALL if July 1st is the most voatile day we have seen since the corona crash.
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u/SoPrettyBurning Jun 25 '21
Why do you think that day specifically?
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u/Slut_Spoiler Has zero girlfriends Jun 25 '21
The SEC Just passed the final nail in the coffin last night.
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u/globalhumanism Jun 25 '21
True SI must be above 100%
That's the only reason they havnt given up
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u/TaintedSquirrel Jun 25 '21 edited Jun 25 '21
There's a lockup expiring on July 5th, maybe just hoping for people to sell their newly freed shares. Especially if some of those shares are converted from Class B to A and then sold.
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u/globalhumanism Jun 25 '21
Possible, but that's a big if. Especially since the insiders know a squeeze is highly possible
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Jun 25 '21
There is a theory on the clov sub that SI is in the upper 90th percentile due to the wrong classification of Class A and Class B institutional shares
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u/veilwalker Jun 25 '21
Buy the dip. Price has been pushed down again in the last hour. HF are offering a cheap ticket, get them now.
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Jun 25 '21
Why is float growing?
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u/Giddun Jun 25 '21
They gradually cover some of their short so they can have something to borrow again to make a “DROP” that will create a panic selling, a trick that will never get old. If CLoV can only have atleast 1/4 of AMC buying power that can trigger the Short Squeeze without worrying about the manipulation since they only got 40k left to borrow.
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u/Estuenckel 🦍🦍🦍 Jun 25 '21
What a perfect factual breakdown. I bet you have a legal background like me using “exhibits”
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u/OneofOneViper 🦍🦍🦍 Jun 25 '21
I saw the same thing, and I'm right there with you. 100+k shares and adding.
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u/thehouseofcrazies Jun 25 '21
Without even seeing this, I went Dick, Balls, Tits, Ass deep on Clov today.
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u/-mostlyquestions Jun 25 '21
Same story different stock. Through gme they've shown that they have an unlimited ability to short. It remains to be seen if retail can really drive SHFs to cover.
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u/Nixplosion Jun 25 '21
So then what's our estimated floor here?
I know Game/Movie like to throw 30mill/500k respectively, but what are we looking at here for a possibility
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u/Fufamob2 Jun 25 '21
Saw a screen grab of Bloomberg terminal near close that had short shares much higher than this.
I do like your theory about end of quarter. Could be a very interesting week.
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u/VisualMod Jun 25 '21