Embrace the reflexivity. You see bubble, you long till wrong.
Melvin Capital has a short position on this. It's 2 times the daily volume. IV is cheap. So I'm here to lend a hand out. Let's see if his daddy Ken Griffin's bailout was enough for this poor poor fella. If not, I will always remember you Gabriel.
Extremely +EV bet due to the stupidly low IV. Low probability but it's a play in the case of Melvin and subsequently other shorts covering. Low short interest at 10% but high DTC.
Putting a miniscule amount of profits from other short interest bets into this. Trading is easy.
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Melvin's short covering only took it to 31. Of course, taking profits after a 9% move would be pathetic. So didn't close my position. So this seems like a losing one so far.