At 66c of the 2,5000,000 short trades conducted since recommencement of trade , there is only a maximum possibility of 263,000 short trades conducted on 04/02 & 05/02 that aren’t underwater, these were traded at around 68-74c, and would be getting nervous.
We know SHJ recommenced with 485,000 open shorts positions. Is there anyone that would disagree that they would be all closed ? ( $2 down to 50c). Regardless for the sake of average let’s say 200,000 have hung around for nostalgic purposes. This leaves a maximum of 463,000 safe positions at 66c.
We know on the 10/02 there were 1,305,000 open positions. That is 842,000 positions that are now underwater if they have not got out. 457,000 of which bought in on this date at no higher then 63c
Since then 336,000 shorters have joined the BBQ , all under 60c and all well underwater. Based on my estimates, I believe as I type there is about 1,000,000 open short positions below 66c, of which on my calcs 70%+ of these are sub 63c and needing to close off very soon.
Its getting hot in here, who brought the sauce ?
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