Thread by @TRUExDEMON

Oof, I wish I hadn't slept in today. Could have made a real nice day-trade. Oh well.

Anyway, I see $PROG is doing awesome. Broke through two support levels in pre-market, and fell back to $5 before finding support.

All-in-all, pretty healthy correction.

Once we establish $5 as the new level of strong support, which it looks to becoming so, then we can expect to see another leg-up. $5.50 is a lovely target that we can easily break to put another level of call options in the money.

Lo and behold, Dec calls are filling up too.

Shorts are still going to have a hard time borrowing shares at this point. Util is 99.9% and the net returns from two days ago are apparently already being borrowed again, which just means more money to take from shorts.

The put chain is also worth mentioning here, because max pain this week is way down at $2 for calls/puts. Right now the only ones hurting are the puts.

When these puts expire worthless, it means a very painful loss for shorts to the tune of 6,386,800 shares if we push above $7.5

Even as I speak, $PROG has bounced off $5 as support, and will now likely seek to retest that $5.50-$5.60 resistance level.

The last thing I'll touch on are exercising ITM calls, which as we all know, causes buying pressure and kicks shorts in the teeth at the same time.

There are still 159,243 ITM calls on the chain, and today is Wednesday, so it's the last day to exercise calls early in time for T+2 before Friday.

Calls exercised today will force shorts to buy all naked shares early before Friday, which can cause more options to go ITM early.

For those who are already throwing out "bagholding" talk just because we retraced from $6 back to $5, just chillax.

I warned people what might happen this morning. We had an early surge in PM, and then retraced. It was expected.

$6 isn't a squeeze. I'm hungry for much more.

Trust me, when the squeeze starts, you'll be looking at a chart going straight-vertical by the time the momentum takes control.

This is only the beginning of what it can do. The first run up always includes some attempts to shake out paper hands too, so you must be ready.

Hold onto your conviction, stick to your trading strategy, and trust your thesis. If you got in this because of FOMO, welcome to the ride, but jumping into a play without arming yourself with info is a bad way to go.

You're exposing yourself to too much emotion.

So get some DD.

This thread has all the DD I've compiled over the last several months and will explain the play in the near term.

I've been in this since $1.60 and went through many ups and downs. Hopefully you can learn something.

https://twitter.com/TRUExDEMON/status/1459957711068549124?s=20

$AMC needs some love too, and having trouble breaking above that major level of resistance at $43-$45, so I'm hoping #PROGGERS can #SqueezePROG a little before Friday to give our ape brothers a hand.

This is awesome momentum, and we're all doing a phenomenal job right now.

I know many who are in #PROG are also in #AMC, so that's why I want to tip my hat to those who are in this for the ape movement, and let them know that the #SqueezePROG mission is ultimately to add to the pressure against wall street

I'm tapped out, and I've exercised all my ITM calls expiring this week, so I've done all I can do.

That's all for now. See you guys at the closing bell. I've gotta get some work done. Good luck.