Here is why the high volume on June calls. Read and comment pls.
They write (sell calls) always at a higher price early because of the time premium. Lets say for example June 4 calls early to mid May they were selling for around 18 cents. Guess what? Now that they are going for 2 cents they are buying them back for insurance. I know because I do it every month. So as you see if you did this you made 16 to 17 times your money. Not bad. You got to own the stock though so you don't get caught.
well i feel pretty confident that the closing price at opex, june 19/09 will be under 3.50, barring of course that skuehl and the golfbuddies dont push it through $10 and kill the short position.lol. all those $10 calls are easy money for the sellers now that pandit took out insurance with the poison pill. by the way where is skuehl, in riyad with the prince talking strategy? sorry couldnt help it. again aimho.