$Lumen Technologies(LUMN)$ Those who attempt to make money on this stock by shorting...basically are creating shares of stock that do Not exist...and then Selling them...to others who Buy those shares...Pretty simple, right...???Also, there are Potential buyers of this stock, who purchase Call options contracts...typically 100 shares/per contract...which when exercised, become shares Bought...Sellers of Call options...?...some are written (sold) by owners of shares...Covered Calls...but Many are Not covered, but written "naked"...Unbacked by shares..and in that case become non-existent shares created and then sold...like the others mentioned...Friday's expiry had a large number of Call contracts exercised at $5.50 per share and Lower...I find it important to monitor the approximate number of "non-existent" (shorted) shares for good reason...it is heavily weighted in the creation of my trading strategies...Now..the way shorters close out their positions is by buying in the market from others who are Selling their shares...legitimate shares...or from others selling more Non-existent ones...shorters covering from other shorters..it does happen...There are only So Many legitimate shares, right...???Well, it isn't easy to figure out the exact number...of lets call them "fake shares'....but we can guesstimate...The last report from FINRA showed 112,000,000 shrs short as of july 31...so some covering took place in late July.....
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