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Affymax, Inc. (AFFY) Message Board

  • t0m.mirabit0 t0m.mirabit0 Oct 26, 2013 10:08 AM Flag

    Do MM have a get out of jail free card?

    Is it possible MM and exchanges are a large part of the remaining shorts in Affy?
    Could it be they have some alternative method of obtaining shares other than on the open market?

    Just look at what happened with the options.
    We were told as of June 6 there could be no more opening options contracts on Affy but I noticed that happening and placed an order. When the reject came back I asked why there were 200 newly established Oct $.50 calls and I got a quick bs answer. I insisted on an official inquiry. The following was the response:

    "Effective 6/6/13 AFFY was delisted from the NASDAQ Global Select Market. As a result no opening transactions in options are allowed for AFFY. This decision was made by the exchanges and is outside of the control of ETRADE. Market-Makers and exchanges will be allowed to enter opening transactions to offset a closing transactions. "

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    • Tom, it is bad that your options went haywire. When the stock was low priced, you don't buy options unless it available for a much lower price, 10 cents or so. Imagine buying 5 K shares for 10K when 20,000 shares worth of options vanished away,

      Options play is good and much leverage, however it is not for some stocks which are of AFFY's type.

      I hope you own shares of AFFY. I'm unmoved with their manipulations, even yesterday I had some funds bought 3K shares!

      GLTA LONGS!

      Sentiment: Strong Buy

      • 1 Reply to jagan1961
      • I knew the order wouldn't go through when I placed it. But when it came back rejected I was able to ask ETrade why and demand an official response not an employee opinion which I got. I have Jan14 and Jan15 options on Affy as well as shares. I don't trust brokers. They spew wrong answers unless you make their response official and in writing. My problem here is with the Options Exchange where we can't trade opening contracts but they can. Now I'm concerned about the availability of shares when it comes to calculating total number available. Is there a backdoor for the market makers to obtain shares to cover their short position? It doesn't make sense that options on 3.5 million shares expired and the price went down.

 
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