Is it positive or negative? Who are sellers? They sold mostly during run up in september. Likely shorted this way. But have not closed any intrest now when stock is so much down. However, who were the buyers? What are they going to do? Only two possiblities. Either stock will hit $ 100/share by December/Jan Op Ex or going no where after earnings.
I just can not still understand. Huge open intrest in December/Jan in calls. Possible bigs boys shorted on the Run up to $70 in september. However, usually sellers of these calls would close off these positions when stock price moved so much down. But they have not. Why?
Only couple of possiblities.
1. They are dead sure that they control price and it would not move to these level of Open intrest before expiration date. Hence, these are worthless.
2. They know the stock price would be above these levels.
Which possiblity is it? I hope and wish it is the later. GLTA
So my huntch was correct. Big boys shorted by selling calls during run up and all the way. Unfortunatley, I did not follow my huntch and fell for trap created for longs. Sitting on huge amount of worthless calls. However, still can not understand the huge volume in few day day for open intrest. It can not be by individuals, given amount of money involved in trading. Can somebody, please explain. Is some of this call intrest also phantom, just created as part of long trap? Is it possible? Thanks.