$PROG AH action only appears disappointing. I just went through the transcripts (I wasn't able to listen live), and the confirmed drug combinations for tofacitinib (or biosimilars) and adalimumab, which are manufactured by pfizer and Abbvie respectively.
Don't panic. 📉=🐂💩
This is AH accumulation, which may continue tomorrow, but I'm so bullish. Day trade puts if you want to play games with the intraday chart, but I'm just gonna hold.
Ya'll give way too much credit to AH.
There is no volume.
Shorts haven't covered
Even as the float grew.
Let's just think for a second about the volume on $PROG this month.
Is there a single red candle in this chart with any kind of impressive volume?
No. Dumps happen after massive runs and we haven't hit the next level yet. Just be patient.
Once in a lifetime opportunities don't happen on your schedule. They present themselves momentarily and give you the option to sieze them ONCE and once that moment is gone, the opportunity is lost forever.
If this is what you believe is your one in a lifetime... patience is
By the way, congratulations to you all who bought the dip. I'm still taking a break for just a couple more days.
I'll be back for Monday opening bell.
See you then.
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This is the hard part for $PROG holders. We are coming to the home stretch. This is when all the FUD, negativity and selling pressure will hit hardest.
It's because we are right.
Shorts are scared.
Market makers are terrified.
And insiders are being greedy.
Here's why...
We were forced below our ascending support trend on the lowest volume candle in five weeks. This was a targeted sale to force the price down as fast as possible. There is nothing but false sell walls above us.
That's because the call options chain is entirely too scary.
67,637 calls ITM
185,060 calls OTM
252,697 total
IF THE PRICE GOES UP BY EVEN ONE DOLLAR, THE CHAIN REACTION OF CALLS ELIGIBLE TO EXERCISE CAN CAUSE A RUNAWAY EFFECT OF GAMMA SQUEEZE.
This is Market makers trying to acquire shares at the cheapest price by scaring retail.
$PROG has officially triggered ALL of my Short Exempt Squeeze Signals.
Utilization is over 95% since 9/22
Short Exempts were 6% of short volume today, 3rd day in a row above 3%
SMA is 5% up for the 10th day in a row
Short Vol 53M today
This will be a long-ish thread. Buckle up
The short volume being over 53M today speaks volumes to the effor that was made to control the price today.
It didn't work.
Here's the FINRA Short volume data from today.
Meanwhile, @ORTEX is updating or their brokers are stalling for time while they manage the chaos.
$PROG's call chain has been growing at an incredible rate over the past two months, where we began with less than 20k OI on the call side from October to January, all the way to over 100k calls just in November alone.
This image was taken Oct 13, just before Expiration
61.7k ITM
Seems like all I every do anymore is talk people off the edge...
Ladies and gentlemen... Shorts have run out of ammo. They pushed $PROG down to $2.30, and it bounced again off $2.35.
We now have a Sine wave.
Ya'll panic too much. 😂
Let me continue by saying that $PROG recently got placed on the Threshold Security List, which means that as of 5 days prior, it's FTDs exceeded 0.5% of its outstanding shares.
There are at least 750k shares that have failed to deliver to holders which must eventually cover.
There is obviously some concerns after the stock fell from $3.50 back down to $2.30.
Can I just remind everyone that we are still up 380% since $PROG hit its all time low of $0.60?
That shorts are still underwater by 145% since $1.60?
I truly wish more folks from the #infosec community took an active interest in our financial markets.
Many of us have been hacktivists, digital protesters, and advocates for change ever since we entered our first BBS board.
This is something we can understand...and change.
For those of you who are interested enough to read past the first tweet, I've been a pentester for going on 7 years, and have been obsessed with #hacking and #infosec ever since I was a teenager.
And I've felt more of a connection to people who think like that than anyone else.
For whatever reason, we seem to gravitate toward the idea of democratizing the internet and are huge advocates for freedom of speech, anti-censorship, and anti-authoritarian.
Somehow I have better relationships with nameless strangers on the internet than my family cuz of this.
I'm briefly revisiting my DD on $PROG from 18 days ago because there was some call outs I made ahead of time that have played out, and will help give newcommers to this stock some much needed confidence and context for why the price is rising so rapidly and why it will continue.
On Oct 1, I called out the options chain in this thread, but since then, there was major action in calls leading up to Oct 15.
Specifically, I said that if the price would stay above $1.50 that $3 would be inavitable.
We can take comfort in the fact that, comparing the options chain from Oct 1 and 13 side by side shows that almost all of those options at $2 and below were held to expiration and expired ITM
The following Monday, $PROG ran to $3 like it was nothing.
I don't know if everyone remembers when I drew those Fib retracement levels on $PROG, but one of the major levels of resistance at $2.40 were called out exactly on the exact fib timeline I used.
If these continue to play out, breakout will occur on or before fib marker 5 (10/22)
Options interest continues to be staggering, but it seems unlikely that the $5 strikes and above will expire ITM.
We are continuing to move up steadily toward $4 on this trend pattern, establishing higher highs and higher lows, but $5 before Friday is a tall order.
If we base above $2.50 before Thursday, gamma could carry the price well into $3-4. The 109k calls expiring this Friday above $3 would mean 10.9M shares, about 20% of those I suspect have not been hedged for.
The price is being pinned at $2.40 right now, major resistance.