Yup.
Without a revocation or bankruptcy, the only path left is to cover.
That’s why I’m here.
All the games in the world won’t save them. They’re trapped on a chessboard with only two real options left:
1. Manage a premature short squeeze and take a smaller hit before any preferred share dividend exposes the naked shorts.
OR
2. Buy from other shorts, eat the loss, and pass the bag—consolidating the damage into a smaller group of deep-pocketed shorts who are now so burdened, they’re forced to sell shares to fellow shorts just to hold the price down… until they can’t anymore.
But here’s the kicker:
In my experience, most shorts are too chicken or too proud to do either.
Instead, they ride it out and get financially decimated by the preferred share event.
Irrational? Definitely.
But also deeply human.
Krombacher
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