Jun. 17 at 1:05 AM
$GIL got wrecked today, down almost 19%
Short-seller channel stuffing allegations hit hard
Management tried to calm things down but the market wasn’t buying it
Options flow is screaming bearish
Eighty-three percent of the premium is in puts with a ton of short dated contracts at the
$47.5 to
$50 strikes
Implied volatility is through the roof, over 100%
This is pure event driven chaos and things could whip around fast
Class action talks and some call buying add to the mix
Feels like a headline minefield
Tight risk management is key here
Keep positions small with all this volatility
