Key insights
- The author highlights a significant short squeeze in Avis ($CAR), comparing it to the Volkswagen squeeze. They note the extremely limited float available for covering short positions and the wide option spreads, indicating high demand and volatility. The author switched from a short to a long position, suggesting a bullish outlook in the short term due to the squeeze dynamics.
$CAR Avis. Hats off to Matthew Halbower at Pentwater for engineering one of the craziest short squeezes in the history. This Volkswagen all over again. This is textbook case study. It will be a riveting watch over the next few days and it will keep ripping, there is no damn float left to cover. Here's Matt Levine
https://www.bloomberg.com/opinion/newsletters/2026-04-15/aibirds
Options got $8 spreads and still pay every day: https://www.reddit.com/r/options/comments/1sr1bys/comment/ohbnusr/
DISCLOSURE: I had to switch out of my short to a long and its going great!