There are three levels of short squeeze occurring on HIMS.
$23 (Done) - This was the first major resistance after the news rebound.
When $Hims & Hers Health Inc.(HIMS)$ holds above $23, it confirms that buyers are in control.
Shorts start to feel pressure because many opened positions below this level.
$25 (Done) - triggers the gamma squeeze.
Closing above the 50 DMA and a heavy options strike price regardless of call or put.
If $Hims & Hers Health Inc.(HIMS)$ stays above $25, market makers must hedge call options.
Market makers buy stock and the gamma squeeze begins.
Shorts start covering.
$28 — triggers the full short squeeze.
Many shorts likely placed stop losses once it breaks $28 and will rapidly move towards $30-32.
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