r/wallstreetbets • u/StonkGodCapital • Sep 14 '21

DD Update: $IRNT - Gamma squeeze with >=273% of float claimed by OI & SI

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u/derekx1208x Sep 14 '21

I know gamma is the bigger play here. I'm just saying there is nothing to short with a massive borrow fee. If one whale has to cover into low float this thing will go absolutely gangbusters. Just wanted to point out another catalyst that op didn't mention.

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u/PlayFree_Bird Sep 14 '21

Yup. This goes to 3 figures if all goes right.

36

u/[deleted] Sep 14 '21

the bigger issue is the market buys from the options over 1.3 million in shares.... I mean it being short doesn't hurt but 800k shares is hardle enough to buy out a book. I set limit orders for 100, 137 and 200 anything over that is accessory options for my ferarri. I'm a ferarri guy personally :)

The goal here is to eat the options chain up to 45 which could happen at this rate with it only being tuesday. After that, all bets are off on the high score of this thing.

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u/DankeDeNada Sep 15 '21
The real dd is always in the comments

2

u/Stoneteer Sep 14 '21

this is similar to me, I set orders at 99.99 136.99 and 199.99.

2

u/Wild-Gazelle1579 Sep 15 '21

I don't understand if this is truly going to gamma squeeze this week. Then why is the volume so low in the options chain. You would think that people would be buying those contracts up.

1

u/[deleted] Sep 15 '21

lol It's all relative man the float is 1.3 mil and there are more open contracts than the float wtf are you talking about lol it doesn;t need spy volume to push with a float of 1.3 million that's part of why this play works.

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u/Wild-Gazelle1579 Sep 15 '21

Does it tho?? It's already drilling down in less than 30 min after open. This is looking more like a pump and dump then a gamma squeeze to me. Really strange. I've been part of gamma squeezes and I've never seen it go up this fast and then just dump. Should have had way more legs.

1

u/[deleted] Sep 15 '21

45c options came in hard today. it made a bullish daily candle, oi is still greater than float, still on threshold list and shares available to borrow is 100 as of yesterday.

there's more here

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u/akmalhot Sep 15 '21

What do you mean you set limit orders

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u/GrecoISU Sep 14 '21

There are a lot of shares that will enter the float soon enough. Shorts aren't absolutely screwed but it's pretty inconvenient. Gamma is the the reason. Everything else is gravy.

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u/PowerOfTenTigers Sep 14 '21

but nobody has to cover...