How do you think a Donald Trump win would impact his DJT stock? I have a friend who was short the stick at 60 and I influenced him to cover today. He really didn't understand much about what he was doing (and wow as a side note he said short interest was 100 percent a year).
Most people don't like to hear advice. In fact, they will get extremely furious if unwanted advice is given. Who knows, your friend might be a millionaire in a few weeks time. So better don't be nosy.
I was going to short at 60 plus but once I saw the cost to borrow shares I was like nope. That was one of the highest hard to borrow fees I have ever seen.... Which broker does he use? The 2 that I use will show you the daily cost of borrowing the shares short, sometimes though it's not easy to spot or understand it if you are new to shorting!!
If I were him, I would have taken some profit; > 60 to 12 drop is massive. > also 12 is the support level that has been tested thousands of times.
A useful tool is the IBorrowdesk site. They pull data from IBKR. It will show you the current short rate along with a graph of the short rates from the last year. IBorrowDesk
If short from 60, why cover now!!! BTW:- https://www.elitetrader.com/et/thre...gy-group-corp-djt.379047/page-21#post-6027784
I too covered a small put position yesterday morning. Whether before or after the election, one needs to be careful. Although I think most of Trump's businesses over decades went bankrupt, and this social media stock, has about nil advertising, & a decline in viewers, so it is many times over-valued, but with Trump, & some of his questionable partners, one can never use just logic. Eventually I suspect it will go near zero, and may re-enter before the election. Should he win, there is a real question whether he could be involved in a news / social media business.