QPM Chart, page-3727

@Daswon,Yes that's correct, what I am saying is it could be investors acting in fear of further losses and attempting to protect their capital from further losses as opposed to acting out of greed and "preying" on the losses. We don't know so attributing malice to those trades is arbitrary. The post was of last weeks shorts hence my statement they could have been bought back already. It is hard to know who is doing what when but a short would usually have a stop so that any potential loss is already know when the trade was place (baring gapping up ofcoarse, that is very dangerous). Sig has said above that alot were place at around 18 cents so those are still "in the money". If its a hedge some are willing to take a small loss as cost of insurance against a potentially much greater loss which is really a manifestation of fearing how the market will react to all these externalities. When you consider tax implication some loss in the short may still be cheaper than selling and not getting a capital gains discount, for example.