9 million shorts were opened between 5th June and 5th July with their best case scenario of 54c (likely less). I suggest that a strong open tomorrow will see them close these positions out or they risk turning a profitable trade into a losing one.
That is in addition to the 1.5 million shorts taken on the 9th.
I am highly interested to see if the order @48c is a prop to stack the sell side, i noticed it moved down from 58c when the shorting was hot. Without it there is a very, very thin sell side.
Imagine if the sell stack fully dried up, they would be caught with pants down and unable to close positions!
Watching and learning here, i will use short squeeze as an addition to future trading strategy.
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