That is because it is. I get the short squeeze and it could go higher, a lot higher. It could go into the thousands. I've owned AMC stock, I've owned calls and right now I have puts. I've won some, lost some, I've been right and I've been wrong. If the stock breaks below $52 then I'll sell the puts on the way down and buy calls or the stock. I've even stated that it's possible a meme stock can turn around a company's fortune because it allows a company like AMC to issue shares on it's insane price and eliminate the debt that was making it such an obvious company to short to begin with. I'll make some and lose some more. It's what happens when swing trading a volatile stock. I lose my arse on GME puts. I also lost my arse on AMC calls because I was careless and purchased the wrong expiration date. I literally played a straddle for GME short and AMC long and screwed up so badly that I bought AMC calls that expired a month earlier than the GME puts and was punished by the stock gods for my mistake.