Monday following expiration can be confusing. Although the expiration date was last week the assignments would happen Monday. ' In the money' options of both puts and calls were exercised over the weekend. There were very few calls perhap 100,000 shares and nearly 450,000 shares in puts assigned. Some of those options players will not want to hold the stock and deal with it when assigned. But that was yesterday.
I would expect some covering by shorts who used the Oct options as a hedge but it wasn't 3.5 million shares.
More than half those contracts were opened on a Friday when a CNBC personality recommended them only to do a 180 the following Monday just prior to delisting.
Is there any reason to rush to cover without news? 10 million short shares have been covered with the help of SA articles to keep the price in check over the past 5 or 6 months.
I'd like to see some management/shareholder activity and I don't mean buying more stock. We have votes shorts do not. You don't need news from Takeda to finish the restructuring.