The implied vol of the Nov 25 is 50%. Hist vol is nowhere close. If you are bearish and must trade options, sell puts and short the stock. Or sell puts buy calls and short the stock. Otherwise, you are just wasting money.
If they have any real firepower left, you can count on an attempt to close it above 29.60. If that fails, the riggers are going to get pretty nervous. My projection is that I can see the stock going down a couple of points and then some non-rig support coming in from people who think they missed something and are getting a bargain down 10%. They will be buying into rigger shares which will overwhelm that support.
Egg market is down again taday and the egg market is at best at break even levels for egg producers. CALM admitted in the 10K that the egg market will remain under pressure the rest of this year at least. CALM seems to be trading at historically high valuation usually reserved for times when the egg profits are gushing. Calm could drop 5% at any time IMO, but there are riggers that seem determined to keep the PPS high for to keep their own scheme from collapsing. Any day now the rug could get pulled out from under their feet and the whole house of cards will be revealed for all to see.
Remember, only $5-6M trade a day. It requires VERY little capital to keep this rig up, if there is one.
Bunk, why do you think this would require multiple parties working in concert together? Why couldn't one institutional investor do this alone? Seems entirely plausible to me.
Don't skimp on the vocab, I need a dictionary every time I read your posts.
Deep in the money meaning you think its wise to buy puts over 30 strike? I'd rather risk out of the money puts that get in the money so you have little up front investment and big returns.