You guessed it, big gapper… 85% from previous close to open or 132% from previous close to the pre-market high … short the open, stop somewhere above, cover end of day. Or you could do what I did and mangle it with multiple covers, thus cutting my profits short. Borrow was 2.4 to 3.9 cents per share. Over $1,000 in borrow fees. Oh, your guru never mentions the fees? Wonder why.
Not a lot of dings, and I hate to say it but my dinger broke and I missed a bunch of trades as a result, including a monster win, but c’est la vie.