/biz/ - Business & Finance

>>29740117
yep.

TDA wouldn't allow me to sell covered calls because not enough shares available. Not only is GameStop shorted into oblivion, but shorts made an irreversible trade. In 2019 GameStop decided to buy shares back to counter aggressive short selling. Shorts reacted by continuing their aggressive shorting campaign into the buyback while GME purchased over 1/3, or 37 million, of their shares back under $5. In buying back 37 million shares, suddenly institutional interest became greater than the amount of shares issued, which also created the situation where the amount of shares short went over 100% as well. Shorts had no choice but to continue shorting the stock and trying to defend their position. At this point unless GameStop issues shares that will allow short positions to cover, I see no way out at any price for this reckless short position, and an inevitable Gamma Squeeze with no theoretical upper limit on share price.