GME short squeeze won’t happen anytime soon and it probably won’t be as big as you think, stop buying weeklies and get shares instead via /r/wallstreetbets #stocks #wallstreetbets #investing
GME short squeeze won’t happen anytime soon and it probably won’t be as big as you think, stop buying weeklies and get shares instead
GME has a short % of float of 160.45% as of Oct 30. Some of you retards are probably having wet dreams thinking about the short squeeze but let me tell you why it won't happen anytime soon.
Check out https://www.ortex.com/stocks/26195/shorts , clear your cookies if you want to re-visit the page. Ever since the peak at $15 there's been a huge amount of short selling happening, this combined with the low volume and bad liquidity means shorts can drive the prices down with very little selling and they're able to cover back at low prices to turn a good profit. This all appears to be pretty well coordinated and at times when the cost to borrow becomes high like in October, they are forced to cover but then just restart the short attack again when liquidity dries up and the cost to borrow becomes lower. The cost to borrow has gone from 37% to now just 13.72% and appears to be trending down further.
I'm willing to venture a guess and say there's probably some hedge fund asshole driving the price down on naked short selling, which could at least partly explain the >100% short % of float .
I'm very bullish on GME and I have 900 shares, selling covered calls close to the money at >100% IV to you retards weekly. I'd like to thank you for your tendies but if you really want the stock to squeeze, stop buying weeklies, and start getting shares.
Submitted November 11, 2020 at 04:22AM by KYJELLYTIME69
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