With the insane volatility of this stock I think the way to go is just to short 50 shares a day until it goes bankrupt. Trying to call the top on this squeeze is dangerous so I'm averaging in.
Hey Pythagoruz, how is that strategy of shortin' 50 shares a day working for ya? Do you still think the people who turned bullish on LTM when it was trading in the teens are dummies?
Seriously? It has gone up almost 50% since you first stated this. Seems to be in a clear uptrend at this point in time. It always amazes me to see folks short growth stocks.
Peace & good luck,
Curious about your commissions, shorting 50 shares every day. My online broker would charge me $8.95 a trade. At 50 shares a crack that would get a bit pricey on a per share basis.
I hear you. See my thread on "Why would anyone Invest in this Company" below from January and my responses in the Gym is packed thread. I shorted from $15 down to $8 and covered. I went away for a couple of weeks to find this at $15 again. I'm trying to short, but my brokerage doesn't have any shares. I dislike buying puts b/c of the premium (obviously), but I guess in the unlikely event of a sqeeze, my capital is better preserved.
Good luck to you.
"I'm trying to short, but my brokerage doesn't have any shares. I dislike buying puts b/c of the premium (obviously)"
Put on the synthetic short position. Sell calls and buy puts at the same strike. Calls and puts should have the same premium so you are selling off the premium you are buying. Interest rates are nil so its should be pretty close to a straight short position minus the option spread.