I think the instos can only short so much to hedge for positions well north of $10. If everyone is shorting then the entire SP would just crash and burn to no one’s benefit.
And to be honest apart from few instos , majority of the instos and almost entire retails are in the red up till this point. If you look at Citi’s transaction last April - June , they poured as much money to ramp the bloody thing to $20 as they did to short the thing back down to what’s now.
So let’s wait and see ,the market update should be out pretty soon!
I think the instos can only short so much to hedge for positions...
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$6.25 |
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