I’m waiting for someone to comment on this talking about a “gamma squeeze” without knowing what an authorized participant is 
https://twitter.com/iv_technicals/status/1360359579876528128 …
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Great thread, very informative. But now I’m going to embarrass myself with a noob question... what’s AP?
Authorised participant. Someone who can create or redeem shares in an ETF or ETN by buying the basket of constituents and delivering it to the fund in exchange for a new share (creation) or delivering a share to the fund and receiving a basket of the constituents (redemption)
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They are responsible for keeping the price of the ETF in line within its NAV, since they buy the constituents and sell shares when the share price is higher than NAV, and vice versa when the price is lower than NAV.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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