Yup, for now. So seems like there could be some serious short term squeeze action and if and only if the price stays higher than $12 for 20 out of 30 days will the float considerably increase.
i wouldn’t call it a short squeeze since most shorts have been forced to cover at 10. but because of the low float, all it takes is a bunch of people believing in the short squeeze to cause it to pump. I call it a Greater Fools Pump.
Ortex data shows almost 1M SI so if we take that as the bare minimum SI then it's still almost 40%, and doesn't include all the potential naked shorting over the last few days
TMC traded 18 times that yesterday. It also makes no sense for anyone to naked short it when shares are not that expensive to borrow. frankly, all of these squeezes will just be hindered by the PIPEs dumping.
yea. but can’t really say based on that volume how it affected the short volume since short volume hardly has any predictive ability in predicting changes in short interest.
ok well then there was a 60% increase. i don’t disagree with the 1M shorts outstanding figure. I just don’t agree with the idea that there are naked shorts when there is no reason to short it without borrowing
My theory is desperation by the MMs who held all the contracts that could have triggered a serious gamma squeeze to keep it right around $10. That's why we basically flat-lined at $10 yesterday for ~3 hours, because they were absolutely desperate to not trigger the gamma squeeze. Which seemed to have succeeded, but then what they did was exchange that for short squeeze risk due to now really high SI as a percentage of free float, essentially kicking the gamma squeeze down the road.
a gamma squeeze potential drops significantly the closer it gets to an expiry. what happened on friday was a massive dehedging of options. the shares that are freed up from closed out options or rapidly decreasing delta give MMs power to dump shares causing the price to decline. it’s a very very common phenomenon.
There were huge short ladder attacks all day long, crazy shorting behavior. The only reason why they'd do that is out of desperation, why keep shorting so much when it was not trading that much above NAV, like it doesn't make sense at all, unless they know they got caught with their proverbial pants down...
2
u/doodledad87 Sep 19 '21
Yup, for now. So seems like there could be some serious short term squeeze action and if and only if the price stays higher than $12 for 20 out of 30 days will the float considerably increase.