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ZAGG Inc Message Board

  • bears_bulls2007 bears_bulls2007 Nov 29, 2012 12:39 PM Flag

    Short Interest increased

    Short interst increased in first half of Nov. This would explain the small number of shares up for sale whith lower asking price... there is not enough shares floating around for shorts to cover.... hold your shares long and watch the short position implode... some shorts are starting to cover (the smart money)... longs control the game now

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    • A big chunk of this rally has been due to short covering, the shares free for shorting have been spiking since the rally began a couple of days ago. You can see this in the declining rate for short margin interest. That rate spiked shortly after Options Expiration (11/16) and there were alot of Puts exercised that OPEX that caused Shares Available to short to go close to zero. In effect, it caused a short squeeze.

      Atm there are not that many options open for December, so I do not think the Shorts are going to attempt another round this year. They seem to be closing out or at least reducing their position.

      The real eye opener should be on Dec 13 when the Nov 30th Short Interest report goes out since that will show all of the short interest increase from the recent OPEX. Of course they could simply be reducing their position so its not obvious come 12/13 that they are over extended lol (they totally are on this stock).

      Sentiment: Strong Buy

10.32+0.41(+4.14%)Nov 30 4:00 PMEST