Expire on Friday. This could get near $5 by end of trading tomorrow. Pumpettee pointed out this yesterday, but he decided that $6 would be the plan of action. With low volume, it's looking like the low $5's are now in play.
Pumpettees just cannot catch a break. The only problem with flirting with $5, the $4's come into play. Specially if the shorts hammer this. Look at CELG today, they took it down almost $6. I think pumpettees screwed up big time. They thought they had the cat by the tail and now, find out that this cat has them by the tail. The low volume is a key now on how this will trade. Look for this to open down near $5.20 range and bounce around the $5 area.
Pumpettees when you post something maybe look around a bit and see if that logic actually makes sense. Because sometimes you get what you wished for. A headache.
I am neither a pumpettee nor a dumpettee. It is not unusual for thinly traded stocks to drift toward a price that minimizes the value of open options on expiry. There are 3,746 open put options with a strike of $6.00 so it seemed logical that the price would drift to there. I apparently should have stayed with my prior post in which I noted that it appeared that someone was trying to keep the price around $5.50.
As to today’s trading the stock opened at $4.49 and, after briefly flirting with $5.32 and trading as high #$%$51, it closed at $5.43.
Sorry if this is a duplicate post but the one I posted a little while ago has vanished.