Naked shorts do not need to be covered. FTD's do and are covered. Big differnce. MM's must balance that part of the books. When you have a more buying interest than available shares the MM's sell you shares as an IOU and must make good on that IOU later. When the buy and hold interest is sustained as with SYDI, the MM's must move the pps up high enough to make someone want to sell their shares in order for the MM's to capture those share and balance their books. This happens all the time with stocks, just more so when there is great demand for the shares like SYDI. This is why you could not get a fill at the bid most of the day and especially during the last 30 minutes. Only a few daytraders leaving at the end of the day gave you any shares at the bid. I know, I WAS ON THE BID MOST OF THE DAY. You will see the same thing tomorrow only worse, you will have to buy at the ask. The is better than a short squeeze that never comes. FTD's do get covered ever day.
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