There's been a lot of DD surrounding ASO recently (I wrote one here when it was $28.34, it has jumped up 10-20% since) corresponding to a 30% jump in price in the last month. With the current short interest at ~40% (almost all of which are underwater since they were borrowed when ASO was around $26 while the current price is hovering around $31) and the catalyst of the JPM Investor Retail Conference that they were invited to present at, which could expose this underrated stock to eager whales.
We could see a run upwards (due to media hype + retail hype, ASO is the second highest trending ticker on WSB some days) that puts pressure on shorts to cover. From the retail conference in 2020 (can't find for years before this), Lowes and Urban Outfitters presented, and in the week after their downward descents reversed and the stocks were up 17% and 32% respectively so there is light evidence that presentation at the retail conference can correlate to positive movement.
Along w/ all the other positive points (killed earnings, low P/e compared to industry peers such as Dicks, huge underwater short interest) I think this could spark another jump in $ASO's price as more heavy hitting investors are exposed to the stock and jump on board coupled with shorts covering due to no hope of the stock dropping to the prices they borrowed at.
Positions: 200 04/16C $30