Very frustrating to see us sinking lower and lower as the overall market rages ahead. Of course, I realize that could change in an instant, but was expecting a bit more. I hope management has not made a deal with the devil and postponed the closing so that hedge funds can sell several months of calls that will expire worthless. I shouldn't even be having such a thought, but the corruption in the market these days knows no bounds.
It is extremely foolish to think that management would cut a deal with hedge funds to hold back on a sale so that the hedge funds could collect the premiums on out of the money calls. If management were to do such a thing, they would sell the calls themselves (through relatives and paper companies) and make 100% of the profits.
cap--While I mostly agree with you, it is clear that someone is using EVEP as their own playtoy. As a thinly traded stock, it is easy to manipulate. It can be up .80 and a few minutes later down .20. Some of the moves higher in the absence of news also look suspect. I had planned to buy puts to protect my position in the low $60's, but we didn't make it back this time.
On a more positive note, Ethan came out with a long note affirming his belief that the deal is close and sticking with his lofty price target. At this point, I would be thrilled with $70, although I still hope for much higher.