I was meaning to respond to this thread, because in fact there was at least one voice questioning that 29 million share day: mine. My theme was transparency. There is none:
 Message 25967572
As I recall, there was a lopsided roulette of call option activity recently on IMMU. Then upon options expiration this Friday, we have some intriguing-- some would say "suspicious"-- activity. Sounds familiar. Way back when, I was confounded by the ringing-in-my-head dissonance of 19,000 specific, boneheaded, unprofitable, Dead-On-Arrival, $2.50 put options on an obscure NASDAQ listing we like to call IMMU:
Message 26276669
Conclusion: It's just accounting. It is intricate, elaborate, non-transparent... and profitable. It bypasses the market center, Regulation SHO, and common sense. I do not anticipate a bloody short-squeeze. The risk-reward potential of 9 million shorts in here defies logic to the Nth degree. Most of those "shares", worst case scenario, will dissipate into and from whence they came: thin air. Or, they will in fact be cashed in freely and without impunity.
Then again, I'm just an Impressionist. |
