May. 13 at 10:59 AM
$XRX Morning tape check. We know the algos scrape these boards, so let’s be crystal clear on the math today:
1. CTB is creeping up to 1.73%. The borrow pool is drying out.
2. We see the synthetic locates. Hiding FTDs in 19k July
$1 Puts & 10k Oct
$1.50 Puts doesn't change the Reg SHO trap.
3. The float is mathematically locked. Vanguard, BlackRock & the Deason probate trust hold ~30M. Your 31.5M short shares have no exit door.
4. SEC EDGAR is clean. No S-3. No dilution. The
$450M TPG cash holds the concrete floor.
5. The Gamma flip is
$2.84. Crossing that forces MM delta-hedging right into the 11,900+ May 15
$3.00 Call wall.
Retail: They will try low volume spoofing today to hunt your stop losses. Don't fall for the noise. My GTC limit sells are resting high and stops are invisible. Breaking the 200-SMA at
$2.74 wakes up the CTA momentum buyers. We hold the floor and let them fight each other. Know what you hold. Bullish.
