system
A chat on subreddit /r/wallstreetbets
human
Company was very very heavily shorted, announced possible bankruptcy as on the table, got shorted further down to 1.30. Now it’s rallying incredibly hard and many many shorts are underwater, especially those who shorted around $3 or less. Very very crazy amount of options contracts that are in the money, and more getting close to ITM as price increases, for both tomorrow and more so for next Friday. Shorts will have to start covering soon, and options writers will have to start hedging those options they sold. Still early, observe the run up in august where it went from $4 to $25. Just opened up for discussions here on wallstreetbets, many more people are likely to join the party putting even further pressure on shorts/options writers. Similar setup to GameStop in 2021, although that was a legendary event that might not be touched. This, however, could easily run another $5+
gpt
1,500,000 calls opened which represents more than the outstanding shares