The bashers and shorts, new and old, are working on overtime. The level of vitriol and desperation is palpable. Something must be coming up in the near term for them to try to shake out the weak hands so they can cover. The short position has dropped over 60% in the last few months so the rest are looking to get out before there is a possible move to the upside. My hats off to GWP and Alpha Fraud because they have been working tirelessly to the "truth" as they see it, and beat down the share price. We shall see.
So the short interest goes down another 10%. If they thought we were going through BK or there was 100% no chance of O coming back why would the short interest have dropped from May 15 to now close to 2/3. 18.5 million vs 6.5 million. That is why I am holding through the selling, though it is quite painful.
Don't mistake the october option expiration for something interesting in this stock. Look at the massive 2 strike call open interest for october. Each of those options is possibly protecting a short position, and the moment they expire the short is exposed to considerable downside risk. I'd guess we'll see steady increase over the next month as a lot of covering happens- we saw it at the august or june options- i forget which- when it went to 2.00 briefly that thursday before opex.
I agree. The real test, should the MMs fill the 31,500 open interest call contracts, is to whom are the lucky owners of the 3,150,000 AFFY longs at $2 share going to sell? If the calls are not filled, then I understand your optomism for a short squeeze, but there are just no fundamentals driving this stock.