This just shows the change in attitude towards purchasing shorts, not necessarily how many got out. We know 10/02 1.3million contracts open, 336K issued since.
That's 1,641 million commenced or open since trading day 11/2. There has been only 4 trading days since for a total of only 3.6m trades, including a low trading day on 15/2 where new short buying under 60.5c represented 20% of the turnover.
I estimate 16/02 short data will show at least 800,000 outstanding short positions 90% of which will be underwater, and needing to get out. If tomorrow mornings shorts (11/02) shows greater then 1.1mill outstanding (only 17k new shorts on the day), then even more could be trapped.
This thing can run 10c in an hour, surely you would be stressing if you were short, and not out. Where are all the shorts going to fit on such a narrow up ramp ?
All the revisions where to provisions, what happens if cash flow is bolstered, debt reduced and they reconsider divi suspension and drop in a 2c half divi, or they announce a 5c exoected full year divi ? SP would literally take off to $1.
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