I think the fact that Blackrock bought another 1,400,000 shares and that Vanguard, Mellon Bank and JP Morgan already reported increased ownership is a big deal. The Tutes are wrapping this company up in a bow.
The shorts call options expire Friday. Volume as dried up to nothing. No shares are available and longs are holding.
In fact, SPPI is releasing earnings before market opens on 2/21 at around 7:30 am EST presumably and is confident enough to wait until 1:30 pm EST to even have the conference call and give guidance.
I looked back.........the last time we had 3 consecutive days of volume this low was exactly TWO years ago....from Feb. 10 - 14, 2011. Not sure what it means, but this is extremely low volume for this stock.
The substantial Feb. 15th call option hedges expire on this Friday 2/15 too.
On or before 2/15, the institutions also must report 12/31 ownership. It apprears to be going up and, if Blackrock was reflected on NASDAQ, the Institutions would own 51 MM shares out of 59 MM as of today. Including Raj and the insiders, there will be very little retail left.
Next Thursday's earnings and "2013 future guidance" on 2/21 will be very interesting. If volume stays like this, it will be more than 50 business days to cover the short position.