Free float refers to shares held by private investors as opposed...

Free float refers to shares held by private investors as opposed to those held by institutions and company insiders who tend to hold long and don’t trade the shares, normally if there has been little trade in a share there’s an element of free float available to be bought at close to the strike price as some PI’s what out and that’s the element of free float I refer to as being taken up within a tight trading range ie you may be able to buy 10 or 20m shares without moving the price too much.
After that the remaining shares may be in stickier hands and the volume available at reasonable prices becomes much less so it’s harder to take a large position without moving the share price as you’ve bought out the slack or free float available you now would need to buy in smaller amounts or pay higher price to encourage PI’s to sell. That’s my basic understanding of it and why I think low volume is now creating similar swings in share price as the past high volume did, hope that makes sense, Loop.