No shares are available to short. The puts for the following week already have the drop priced in.
The whole reason for this is that ~150% of the available shares had been shorted - someone was either double lending stocks to short, or someone was naked shorting - both of which are illegal.
This time the bad guys got caught with their pants down.
I know I'm repeating myself, but it bothers me when people accuse others of illegalities that may not be so.
With the volume of calls on the board it is obvious that folks are shorting off their calls.
If I have a call that is in the money I can short the stock anywhere above the strike.
Don,'t need the stock because I own the right to buy it at a fixed price.
I think those types of trades may be closed at some brokers for now on GME.At least for some traders.
The show will really start when the joke is over and the blade falls.
I'm afraid there may be a lot of kids who think those trailing stops are gonna save their skin.
Anyone writing cash calls better be hedged up come Friday if the price holds.
But all in all, I think it is a great show.
Glad it's not my circus, not my monkeys.
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