Leveraged sellers of $SOXL just got squeezed. Across the major venues, $1.5M of short positions were liquidated in the last 30 minutes.
A short is a bet on a lower price. When the price moves against it and the collateral no longer covers the loss, the exchange closes the position itself.
The pressure ran one way. Long positions, the bets on a rise, lost only $1.1K in the same window, so this half hour hit sellers almost exclusively.
A short is a bet on a lower price. When the price moves against it and the collateral no longer covers the loss, the exchange closes the position itself.
The pressure ran one way. Long positions, the bets on a rise, lost only $1.1K in the same window, so this half hour hit sellers almost exclusively.
