That’s just the sum of all their trades, cumulative. Not an actual balance or funds available number.

No position to inverse 🤷‍♂️ good luck tho!

I see your points but also remember this is usually their best report, which is probably the reason for the higher estimate. I’d also say harder to book for demand. Two times we found a place, and by the time we shared it with the people we are going with to get their thoughts by the time we went back to book, usually only a day later, it was already booked. We finally just grabbed one when we saw another we liked. I’m sure it’s location dependent. I am long term bearish on them but it does seem right now they are doing okay.

I agree with the points made for puts… however, I just booked a place this week for later this year and it was hard to find a property. They seem to be doing very well right now. The fees are ridiculous. But still a better setup when going somewhere with a group of friends/family.

Very doubtful. Go look at the Tweet that asked people to vote. 800k voters and 80% said they wouldn’t pay. Musk listens to the people, generally.