> My question is, who is dumb enough to be buying all these shares?
There's ALWAYS a buyer. That's what market makers do.
There's an appropriate price for everything. Personally, I'm not running to buy more shares at this price level, but if it goes below 3, ask me again. I'm already committed to buying some more below 3 through the sale of August puts, and if the price goes down another 10%, I'd likely increase that bet through the sale of November puts. (I note that the May options all expired uneventfully.)
As to price and volume, we're entering the silly season of Russell rebalancing and ASCO. Also, the summer is traditionally slow for this company. The Street may think that the Dr. and the Mrs. go on vacation all summer, and that it's a negative. To me, that would be a positive. |
