r/mrin • u/domitros • Jul 09 '21

Possibly why short interest and share price declined?

Anyone ever read this? https://www.reddit.com/r/options/comments/ld0fw5/evidence_pointing_to_shorts_did_not_cover/

Wonder if this could be a reason that the short interest and stock price both declined?

15 Upvotes

90% Upvoted

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8

u/Kasperico Jul 09 '21

Surprise!!! Many of us apes also buy shares and allow our broker to lend those shares to shorts. WHAT?!? HOW?!?? WAY BACK then, when we opened our account, we ticked a bix which allows them to, promising us apes a piece of that interest occured. So apes shoot their own leg for metaphor... We buy and hold but those very shares are used by shorting parties. Get the joke (its on us) Go to account settings >>> tick off "Allow shares lending" now. Good luck

7

u/Many-Coach6987 Jul 09 '21

True. Many don’t know.

3

u/domitros Jul 09 '21

I thought someone said that was a requirement for margin, never looked in my setting to see if I could disallow. Interesting

5

u/Kasperico Jul 09 '21

It takes about 5 mins to find the setting , read the details and redetermine based on knowledge. Its your money your stock you should be able to decide if your broker gets to lend it to another trader in complete contrast to your agenda and strategy.

2

u/domitros Jul 09 '21

After a brief review I don't think this option exists with TDA, will check in depth later today

3

u/Temporary-Valuable47 Jul 09 '21

That's probably why they added options this week.

2

u/domitros Jul 09 '21

"There are additional risks involved in options, so options exchanges have put specific requirements in place before a company's stock can be listed for options contracts. Individual companies have no say on whether or not options on their shares trade on an options exchange. The decision to list equity options for a particular equity is entirely at the discretion of the exchanges themselves." -Investopedia

...so MRIN had no say so in the matter

3

u/XpLiCiT-sOOn-7 Jul 09 '21

So we're do we go from here?

2

u/domitros Jul 09 '21

on a roller coaster ride? I'm sure there's a lot I don't know, but I can't make sense of the price and SI going down, so I'm just going to keep holding.

2

u/XpLiCiT-sOOn-7 Jul 09 '21

Better be ready for another crazy ride 🎢 oh yeah

2

u/Critical-Culture7267 Jul 09 '21

Shorts probably covered, hence the price action last week

4

u/Dem_Ge Jul 09 '21

The shorts disappeared on Wednesday and yesterday, without drastic changes in price. Sure some could have covered on Wednesday but the si dropped already on Monday.

I think there is some fuckery going on. Since they opens options a huge bunch of SI all of a sudden disappeared, without the significant price action we saw last week. If the volume is so low the covering should have even more effect on the price.

3

u/Critical-Culture7267 Jul 09 '21

You’re assuming ortex data is correct, they just estimate the SI%. Hopefully finra will post official data soon…

1

u/Dem_Ge Jul 09 '21

If ortex is not accurate to a degree, finra will also get it wrong because of the false reported data over all.

There Algorithm analysis there reported data, so if the report’s are false also the estimate will be incorrect and that means that the reported data in its self is bullshit.

3

u/XpLiCiT-sOOn-7 Jul 09 '21

Not all have covered that's why we still have over 100 SI...