Could the reason shorty has not covered yet be as simple as:
1) most are currently still above water, and
2) they have such confidence in their trading platform and experience, they can be the first to close their postions with only a small loss when news of commerciality is announced?
If the announcement is made after hours, or a Friday COB, or middle of day halt pending news, how does shorty think they can cover? Some hidden ace card?