New all time high, page-498

I am in similar situation too with put options showing unrealised loss of 1 or 2k per day but I know when it turns around, it will be the other way around. They key is to have enough cash to weather this decline and buy the shares (in my case when the assignment happens or roll over to the next 3 months).

It's bad news for you again that this stock tend to go down 1 whole month in a leg so there is one more week to go and another 10% could be peeled off it. It is likely to go under 6. The shorts use cash as their firepower to borrow shares and sell it at every point where IGO share price goes up in the day. It's the constant attack to demoralise the shreholders and hope for a big crash and everyone will lose the will to buy and only sell. This tend to co-incide with some bad news. If there is bad news about IGO next week or a downgrade, they will try to sell it like there is no tomorrow to force a massive crash. Brokers will terminate all positions of IGO owned by holders who buy on loan and violate margin loan. They will terminate at market price and push it down much further ... This is wheer you get a capitulation of the long share holders and that allows the shorts to cover and get their profit. At this point, the stock would go down massively in the morning and then run back up 15%-25% by the end of the day. The window for the shorts to take profit and run is actually short. The ones who are late to get out will be squeezed as soon as the instos know it and jump in with both feet to buy very large amounts (like 1% of the entire company).

There will be a propaganda war going along the way too. Just like the Ukraine war where 90% of the news is just propaganda from both sides. There will be a fair amount of negative propaganda spread by the shorts and the bears.

A mistake the long tend to make is to sell when the stock recovers enough for them to get out with a small loss. The ones who stay and ride it all the way back will be the real winners.