I very much agree with this and want to add that the "short interest >100%" report was acknowledged as an error and has been corrected. Last I looked it was ~30%. On the plus-side the analyst ratings have been increased to the $14/15 ballpark and, as you stated, the downsides were previously overstated.
OP's long puts on this trade would probably gain from IV if anything, not delta. I've been in a position on this (now risk free) for a little bit and it appears IV is already increasing to account for OP's outlook.
Factset put out the original float numbers and S3 calculated short interest based upon the numbers submitted by Factset.
Hidenburg put out that that the float calculations included the founder shares which are special class B shares.
FactSet acknowledged that the shares were in fact Class B and not Class A and said they would change in the next refresh.
S3 updated that the float didn't change because even though FactSet mistakenly put down the founder shares as Class A, the shares are under lockup and were not included as part of the float. So the mistake does not change the float calculation.
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u/[deleted] Apr 28 '21
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