AFIB - Potential Small Scale Short Squeeze

I’ve been watching AFIB ever since it popped off FDA approval. There was a substantial amount of shorts that entered off it’s 100%+ day that are now looking to be increasingly trapped in a stock that isn’t going below their cost average:

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It’s got all the hallmarks of those squeeze pumps people love, high CTB, creeping utilization and a decent % of float. DTC’s are sub optimal but they’re both a bit skewed by the recent 140M volume day after approval. You’d be unlikely to see that sort of volume again and your recent volume would give you a DTC over 1.

I’m not seriously after this one, but I figured I’d make a post about it since I’m just watching it. I have some calls but I’d probably suggest shares on this one if you play it.

Just something to watch. It’s been fighting the SPY downward momentum pretty well.

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I might grab some Jan 2023’s if they drop back to .20 as a lotto price is within my burn it in the street range

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It looks pretty good, but the Short Position Value itself seems quite low? Seems like a ‘holdable’ sized position but idk. I am not sure how much of an impact the Short Position Value has on these plays.

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I agree completely. Like I said, just a watch, could get picked up by a pump server or the P&L could get out of hand pretty quickly if it pushes any further.

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This is on sale :kekw: – Still just watching it.

I’ve had a buy in for 8/19 2.5’s for .05 for the past 2 days with no luck. Close today!

Sold my 7/15 2.5’s last week for .05 when they had a little pop from worthless

Reversion to the mean.

A spike in volume leads to a spike in price. We saw this huge spike in volume and price on 6/27; The underlying gapped up overnight from $.53 to open $1.06 and reached a high of $1.22 and closed at $1.01 on 142million volume when this ticker trades under 350k volume before this spike. From 6/28-6/30, volume was minuscule, 11mill, 4mill, and 6mil when you compare it to the 142mill on 6/27. What this play needed was another gap up for it to be an ok trade.

The buying pressure/volume just wasn’t there, we should’ve seen a gap down coming(7/1) and puts would have been the play. Instead I focused on a bullish run when the volume and crowd psychology told the opposite story. I’ll have to journal this to remember in the future, and be aware when these plays come by.

I think we might be looking at tickers the wrong way. We’re so focused on news, and what ifs, that we should be looking at the stock instead and see what it tells us.

I don’t use indicators for my technical analysis. I just go off on price movement, volume, and crowd psychology. Again, I was just looking forward to a bullish run and didn’t think to look the other way. I felt puts would’ve been the play, but I was blind to it. The little buying pressure after 6/27 should have been the last piece to this puzzle.

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AFIB seems to have found support at this .80ish level, but I don’t see any good catalysts for a push up. I’ll be staying out of this trade.

The recent volatility in AFIB was due to a… you guessed it… small scale short squeeze. Just needed longer out positions. Now only 8% of the float is short so it’s down to fundamentals of which I don’t really have an opinion on at this moment. Reinforces the need for Trade Ideas to make sure entries are being taken at optimum times.

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ended up selling these one for .40 - 100% profit seemed good to me

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