AAP Inc (AAPJ)

[SPM555]

That tracks retail shorts, not MMs and their naked short positions. You can see the daily shorting by MMs on the short interest sites, it's super common to see large % of the daily volume being shorts because that's how the OTC market operates. They short in the name of offering liquidity, but they abuse that and go beyond just making a liquid market/ making money off of the spread. They get especially egregious if they see an open note with lots of toxic conversions to be had, which is why they shorted over 80 million shares on 1/12 and thought it wouldn't be an issue. To be clear, that's higher than the entire float is currently. The fact that the company canceled their note a few days later is why I am sure those shorts are now trapped. Just watch, there's a reason why we've floated higher on air since that candle. Wait for the volume to start squeezing them next.

You're right about them not having a time frame to cover those naked shorts, but enough buying pressure will force the issue. This one should be quite the squeeze, I feel strongly about that.