Good Morning All. Looking forward to a great day for RAYS!
I keep thinking about what will happen if 34.75M shares have to cover over $2.50??
What would RAYS do? How high would it go?
I think it would probably be one of the biggest short squeezes in bb history; a historic run that would take RAYS higher then anyone had dreamed possible.
It is easy to see why the short position has been so aggressive lately, the stakes are just so high here. At $1.77 average they are out of the money by $3,475,000 at yesterday's close. Every penny RAYS moves up, the shorts owe $347,500 more.
I suspect a massive short squeeze could happen here well below the $2.50 mark, at $2.17 for example shorts would be out of the money $15.6M
All it would take to trigger this massive short squeeze is 1 solid contract pr or even just a break over $2.10 and either of these scenarios is likely especially considering how strong, and how close to all time highs RAYS has continued to trade here with no news.
GO RAYS!
