[quote=ltsddd]I am going to short 100 shares of ABIO tomorrow, if it’s still 15 or higher, just for the rush.[/quote]
You can’t. Not enough float. That was my initial thought as well but I checked and the normal volume.is around 20k/day there aren’t enough float shares tha brokerage firms would allow a short. Tried all 3 brokerage firms, was going to
call a 4th but so far no way. Let me know of you can.
In any case, shorting this stock probably is a very risky idea. If it’s really being manipulated you could be on the wrong side during this manipulation and might not be able to weather it out until things start trading at normal price again.
If you really want to play the game of thinking this will go down, buy PUT options because at least you can keep your potential losses capped and to a specific duration. Even with the extra premium you’d pay for the option contract, that premium wouldn’t matter if the stock crashes and burns back to what it was trading before today, since you’re counting on a crash and burn wipe out the stock price in a big swoop before the option contract expires. And if it doesn’t before the expiration date, you are limiting your potential loss if this stock still behaves irrationally. A slightly out of money put option that expires 1 year from now should do the trick if this is manipulation since it’s unlikely they could contain this euphoria past 1 year without real test results. Anything shorter is risky imho.
Unfortunately , though, I checked that too… no one is writing any options for this small company… Probably because no one is crazy enough too.
Pass…
Meanwhile, I think that’s the game I’m going to play if speculators drive up Moderna back up to $86. After I sold, I was tempted to immediately buy 11 year expiring put options on Noderna too, since I figure the unexpected gain on the way up would more than pay for the 1 year put options even if they expired worthless (or stock price stayed at $80ies over the next year). Had I done that, it would have been a fun trip all the way up and all the back down to $50ies where it is today. Oh well, you can’t win them all.
