Somebody is making millions picking call buyers' pockets. Lesson learned -- sell your AAPL options by Thurday's close. Or better yet, don't even mess with AAPL -- the stock or the options. It's rigged. The action today, especially in the last 40 minutes proved that. I'm guessing Icahn is part of this weekly game.
The SEC can't do anything about two Option writers cross trading to keep the price down. Other big traders, and institutions, however, can, by holding their buying until Friday then buying the #$%$ out of the stock all day long so the idiots doing this have to yield their shares or at least close the contracts at a loss. There is nothing the SEC will do about it and nothing the small investor CAN do about, except to be AWARE of it.
I don't think SEC should be abolished. That would not improve the situation. I think there should be some rules in place to allow and require open monitoring of uncommon activity in the stock markets and I would like to see these ancillary levels of derivative trading abolished, outlawed with stringent penalties for violations. I'd also like to see stock transactions be administered through a new and required investor relations department area in each and every publicly traded company. I don't think it's right to let banks have all the fun. Just think of the job creation a system like this would impose.
I'm not done, yet.