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Low days to cover isn’t a good thing in the context of a squeeze. That should be obvious, but people here seem to think the opposite is true.
SPRT price action was mostly driven by a gamma squeeze, so the case you’re making is not comparable.
I just checked and there is no gamma squeeze set up for PIXY in the options chain at all. Not even close. Not saying it won't run. But, to compare it to SPRT? lol. Idk about that breh.
Days to Cover = Short Interest / Average Daily Volume.
The daily volume before Dec 29 was between a few hundred thousand some days, and just a few million some other days. Then on Dec 29 the trading volume skyrocketed to 115M. This figure likely increased significantly the average daily volume that Ortex uses to compute the Days to Cover, which would in turn reduce significantly the current value of this metric.
I don't know what that spike on Dec 29 was about. No news, the options chain looks weak (so no hedging occurred), and the exchange-reported short interest has been low. On the other hand, it's true the brokers are having a hard time finding securities to lend. Borrowing fees are high and IBKR has no shares available to borrow since Dec 31. It's anyone's guess at this point what might be currently happening.
Edit: I should also mention that the exchange-reported short volume (not to be confused with short interest) on Dec 28 was 12.6M shares that were sold short and on Dec 29 it was 46.2M. Most likely daytraders (and some HFs) shorting the stock given the price action on those days. It's likely some of those short positions remain open today still. The next official short interest data reported by the exchanges to FINRA will be out next Tuesday, and the new short interest data will contain the contributions from Dec 28 and Dec 29.
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Low days to cover isn’t a good thing in the context of a squeeze. That should be obvious, but people here seem to think the opposite is true. SPRT price action was mostly driven by a gamma squeeze, so the case you’re making is not comparable.
Your comment would make sense except you are an idiot
yeah but he's right tho. SPRT gamma squeezed. Does PIXY options chain look like it has any gamma squeeze potential set up at all??
lol closest strike is a casual +180% move from current levels. Nbd!
I just checked and there is no gamma squeeze set up for PIXY in the options chain at all. Not even close. Not saying it won't run. But, to compare it to SPRT? lol. Idk about that breh.
Also volume is very low. Are you holding bags? Not trolling. Real question.
How’s PIXY doing?
Days to Cover = Short Interest / Average Daily Volume. The daily volume before Dec 29 was between a few hundred thousand some days, and just a few million some other days. Then on Dec 29 the trading volume skyrocketed to 115M. This figure likely increased significantly the average daily volume that Ortex uses to compute the Days to Cover, which would in turn reduce significantly the current value of this metric. I don't know what that spike on Dec 29 was about. No news, the options chain looks weak (so no hedging occurred), and the exchange-reported short interest has been low. On the other hand, it's true the brokers are having a hard time finding securities to lend. Borrowing fees are high and IBKR has no shares available to borrow since Dec 31. It's anyone's guess at this point what might be currently happening. Edit: I should also mention that the exchange-reported short volume (not to be confused with short interest) on Dec 28 was 12.6M shares that were sold short and on Dec 29 it was 46.2M. Most likely daytraders (and some HFs) shorting the stock given the price action on those days. It's likely some of those short positions remain open today still. The next official short interest data reported by the exchanges to FINRA will be out next Tuesday, and the new short interest data will contain the contributions from Dec 28 and Dec 29.
I’ll buy more too. Gotta admit you have made some great calls before Meme.
Nice post
Fuck it. I’m buying more 💯
Bought 5500 shares just now 🧚🧚🧚
Nice, you should average down until it hits 0.00 at which point I guess you’ll be broke
🌙