$PROG Take a look at the difference in the OI on the ITM strikes.
Do you see the lack of volume, and yet the OI dropped dramatically?
That means people exercised their options in massive numbers.
T+2 days from now (Wed), those shares will be forced to deliver. This is bullish.
Image on the left is from last week.
Image on the right is from today.
The FUD factory at InvestorPlace is working overtime.
We are going to #SQUEEZEPROG
Be patient and hold. We got this.
I'm buying shares and OTM calls.
The reason why this matters is because naked calls that get exercised early force the seller to buy stock at market price before T+2 to cover those calls. The more ITM calls exercised before close on Wed, the more shares that have to be bought before Friday.
Just saying.
The stock market is a magical place where degenerates can become millionaires overnight if they have the right strategy and share a common sentiment for a stock.
Short HFs and market makers are powerless against the tidal wave of retail investors in the world.
Every share matters. Every transaction matters. Every tick matters.
Retail has more power than the entire Street when it comes together.
I'm looking forward to seeing what today's price action brings tomorrow and Wednesday.
It's a beautiful day to be a $PROG investor.
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What an absolutely incredible day for $PROG. We didn't quite break that $5 area of support, but that wasn't the goal today. Our goal was to break $4 and we left it far behind us in opening 5 minutes of the day and never looked back.
We saw TONS of action on in the options market today, with the OTM chain blowing up massively as support flooded into the stock, from the surge to $5.
The volume on $4+ strikes is absolutely incredible, but what's more, exercising on deep ITM options was equally impressive.
Now we have Wednesday ahead of us, and we are threatening to open up the options chain above $7.50 now that we have cracked through 4 new strike levels.
That's as bullish as it gets.
What's more, tons of puts have gone OTM and have lost more than 70% of their value below $4.50
It's kind of funny, but I left my phone on silent and slept in today.
Glad I did. Seeing $PROG at $5 when I finally woke up was immensely satisfying.
Gamma still incoming. We need to hold $4.20 today and maintain the momentum. More options have been bought and exercised ITM.
I actually sold 50% of my $5/$7.5 that I was holding for 11/19 & waited for a dip, full disclosure.
As it turns out, I now have an even BIGGER position in $PROG because of these calls, and I have enough buying power in all my accounts to exercise all my ITM calls for Fri.
Reason why I sold those OTM calls is because we had a huge volatility spike, so I know that I can sell them for profit and buy them back cheaper when the stock relaxes, which it did down to $4.25
I've spent hundreds of hours researching $PROG and it's a solid investment. I'm not recommending anyone sell their stock to buy in. It's simply a good play.
Frankly, the whole "distraction" argument makes no sense to me...
Investors don't play in the stock market to pick a single stock forever. They buy value where they see it, and I see value in $PROG.
You can make whatever argument you want, but there is nothing wrong with people investing in other stocks in order to build wealth.
Yes, $AMC is important.
Yes, $GME is important.
Yes, they both can squeeze.
Yes, there can be a MOASS.
It takes money to drive a stock up.
So while I'm waiting for them to squeeze, I'm going to continue making plays in other stocks that are more volatile so I can make money.
The numbers are in for $PROG, and whooooooooo boy is it tilted as hell.
6 Million FTDs on 10/29, and we've been on the threshold list ever since 10/20. T+19 days.
$SPRT squeezed on T+21 days on threshold. Just saying.
This is gonna be a long DD thread. Fuckle the buck up.
TL;DR: #SqueezePROG is looking bigger, badder, and more likely than ever.
First, covering the above screenshot, we see that SI% is 30% even after a net return of 2.13M shares today so far. Shorts are now fleeing the stock as we are running up towards $3.50.
If you missed the space call this morning, we talked about $3.50 and $4 being significant levels for us. $3.50 is the major resistance, but $4 is the target to trigger the gamma ramp toward $7.50, which is obviously what we'd all love to happen.
Posted this back on October 20 after recent options expiration. The details of the charting and price movements should help inform #PROGGERS in order to give conviction to #SqueezePROG
Not really DD, but just some pay observations I made that prove I'm not a complete dimwitted degenerate who only pretend to understand the stock market.
I predicted two of $PROG's major moves before they happened, not to mention the $AMC June sneeze
Market makers and shorts know that this options all is the best chance for a squeeze on $PROG. There are hundreds of millions of dollars betting on a squeeze this week.
If we overwhelm them, they can't stop it.
We need frenzy buying unlike anything they've ever seen.