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I acknowledge this might sound alarmist. But, for some reason IBorrowDesk suddenly shows a lot of shares available to short $CLOV. It shows 1.4MM available. I've seen this on IBorrowDesk before where suddenly there are over a million shares available, then it drops again the next trading day. I'm not sure of the basis for their data and it may not be that reliable. Ortex may have better info.
Still, I think it is safe to assume that a lot of short sellers have covered in the latest run-up. I know a lot of people here are looking for a gamma squeeze based on the insane open option interest. I've been watching CLOV since April. This feels familiar. Although there's never been this much interest since I've watched CLOV, a similar dynamic happened in May - a strong pop early in the month, then volume ran out and the share price dwindled through expiration.
I don't know shit, generally. I bought Dogecoin at $0.70; I sold my AMC stock at $20/share. But, if I was holding 6/18 CLOV calls right now, I would want to plan my exit and would seriously consider not holding them overnight if the stock pops. Rolling them into later contracts might be a good idea if you have the cash.
If there really are 1.4 MM shares available to short, my bet is that we'll see the price dwindle this week through expiration on the 18th. Again, I don't know shit. I sniffed glue in elementary school and still like the smell of it.
I like the stock. I'm a CLOVTARD. I think it's a great company. So, I fully expect the price to come back later and plan to buy the dip. I know my guess that it's not going to moon this week is not a popular sentiment here. And, I hope I'm wrong and everyone holding 6/18 calls can tell me to fuck off from the moon next Friday.
Position: I exited most of my position and took profits last week. I now hold 25 shares and 90 warrants, no option contracts.
So, yeah, I'm hoping I guessed right and I didn't pull another "sell AMC at $20" move. But, I still thought I would share my experience in case it helps someone, instead of just lurking in the background. All the best fellow CLOVTARDS!
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