🚨 BREAKING: JP MORGAN FRAUD CAUGHT IN 4K
(twitter.com)
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Oh I expect they planned it.
The fact it's the exact bottom might be explained by the price rising immediately after the shorts were closed due to their closure.
How do you close a short? You buy it back which creates demand on the buy side and the price goes up. Short squeeze is the term. I love nothing more that seeing shorters gets squeezed.
That's it.
Thank you for the clearer explanation.
If you are buying higher risk type investments, always check the sort postion (if you can). If they get it wrong it can create an explosvie upwards move as they are meant to be covered but often not in the US by the sounds of it.
It looks like they had 633 options contracts issued, for 100 shares each, and maybe stood to lose $43 * 100 (shares per option contract) * 633 = 2.72 million?
That can’t be right. Can someone please explain that image a bit better?
Each contract is for 5000 oz of silver.
It's a commodity not a share.
Ohh, so it was on silver, not SLV
Yes on futures.