Thread by @TRUExDEMON

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.

#PROGGERS crushed it. 40% gain today.

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

Needless to say, today was a really REALLY bad day to be short on $PROG.

The $5 strike for calls and puts is the level to beat tomorrow, and we tested it 3 times today.

That wall is pretty much the only thing standing between us and the moon right now.

Premium is burning on the put side now, and anyone holding puts below $4.50 is VERY unhappy.

What's more? Shorts are starting to get out. They're getting scared, and utilization is still 99.90%

Lending volume is still low, and CTB remains at around 99% on average.

Now I want to take a second to be very real with everyone. There is a good chance we see a retracement tomorrow in the morning.

There are a lot of calls deep ITM that are far above max-pain, which means a huge loss to market makers.

They aren't gonna like that.

Be ready for fuckery, and expect some moments of pain and discomfort.

Remind and steel yourselves for the possibility that anyone short on $PROG is pissed. If they have money, they may try to double down and punish the stock.

It's the nature of the game.

Hold your conviction.

On the flip side, this ticker just witnessed more than 80,000 call options go from OTM to ITM in a single day.

That's HUGE.
8,000,000 shares huge, in fact.

At this point, with this many calls ITM, there's a solid chance we see the gamma truly get ridiculous tomorrow.

Early exercising of options absolutely kicked shorts in the teeth today, and now that over 150k calls are ITM today, early exercising of any and all of these options will force whoever sold these calls to buy shares at market price if they aren't covered.

That means more buying.

Not financial advice, but if you believe that there is a solid chance we can #SqueezePROG to unimaginable highs and you're holding ITM calls, it behooves you to exercise them while they are ITM and take advantage of the momentum.

I'm planning to do the same thing with mine.

Any calls I cannot exercise due to lack of funds, I plan to roll out to December/January because I don't consider this even close to over.

This call chain is gonna go so deep ITM Adelle herself would roll in it, but only if the vast majority of shareholders in $PROG hold fast.

There is already 8M shares worth of calls ITM on the call chain right now, and the more of them that get exercised early, the better chance #PROGGERS stand to watch the remaining $5-7.50 strikes go ITM too.

It's a self-perpetuating cycle, and the math works out in bulls favor.

As always, none of this is financial advice. I'm simply reporting the math and the possible scenarios.

InvestorPlace was spitting out FUD articles all weekend for a reason. I don't care what anyone says. I believe they got paid to shit on $PROG because someone is losing big.

I say we make sure that the time & money they spent pouring hate on $PROG is wasted.

See you all in the morning. Enjoy the AH action.

Best of luck to everyone. May the force be with you.

Correction. 15M shares worth of calls.
The 8M is just in addition to the 6.9M shares worth of calls that were already ITM.

P.S.

Looks like we're crushing AH.
I told ya'll to enjoy the AH action, didn't I? 😂

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