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Posted On: 02/28/2021 3:30:50 PM
Post# of 148903
Ohm20
I am confused by your point on short covering.
“Some may be holding to sell when the price jumps on approval”
The shorts need to BUY the stock in order to cover the position that they sold or borrowed short
They goal should be to do that before any expected price rise so they shouldn’t be holding to sell when the price jumps on approval. If they expect approval, they should buy ahead of time — like next week — which they have been doing recently as evidenced but the declining volume of short interest.
IMO
I am confused by your point on short covering.
“Some may be holding to sell when the price jumps on approval”
The shorts need to BUY the stock in order to cover the position that they sold or borrowed short
They goal should be to do that before any expected price rise so they shouldn’t be holding to sell when the price jumps on approval. If they expect approval, they should buy ahead of time — like next week — which they have been doing recently as evidenced but the declining volume of short interest.
IMO
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