$TMC SPAC Squeeze Inbound *insert mini rocket emoji* *read below*
$TMC DD Megathread heading into 9/17 options expiry week
IMO, it’s now or never for these low float, potential gamma squeeze de-SPAC plays. The low floats will remain until S-1’s go into effect, but truly explosive potential dissipates after Friday.
$TMC As of Friday morning, per @ORTEX, 1.77M shares were short. As previously discussed, the float is 2.7M shares. This is ~66% of the float. @ORTEX has no updated this and may not due to ticker change for a few days. We do not know how many/if any shorts covered Friday.
$TMC Per Fintel, there were no shares left to borrow as of Thursday afternoon. The most recent borrow rate was 8.65% at that same time. Like @ORTEX, Fintel has not yet identified the ticker change.
$TMC Short squeeze aside, the options are the most interesting part of this play, IMO. Options are not supposed to exist for securities with less than 7M shares. This, as was discussed, has 2.7M right now.
$TMC As can be seen, there is A LOT of OI on the 10 and 12.5 calls, which accounts for an extremely high percent of the float share wise if these become ITM. If the share price can pass $10, delta hedging comes into play. Basically, MM’s purchase
*just a note that these are snippets from @alanstonkson’s Twitter. Look there for more info
My position: 700+ shares
via r/wallstreetbets https://ift.tt/3qhG8Zq
September 14, 2021 at 02:12PM