I heard the same re: the oversubscription, and wonder the same why price so low as to create the artifical demand.
Somewhat cynically, but also possibly the ONLY smart thing C has done in the last two months...they effectively forced the USG to put a hold on their dump of 5Bn shares.
due to this, I likewise agree we will see a short squeeze, and am glad you have covered tonight!
I'm planning to buy some calls tomorrow morning...,any thoughts? I'm looking at the March 4s...plenty of time value left, guessing I can pick them up for .15-.17 tomorrow morning.
im also looking at jan 2.5 calls. i feel like either gives a good profit potential and still gives me an out if im wrong. the jans id only be comfortable holding a max of two weeks.
didnt get filled on the most recent order, and placed another order for 5000 at $3.2 while it was available and got filled. Now short only 5000 shares of the original 50,000 short.
Placing 5000 share buy order at 3.20 , want to cover all short today,
Hmmm, so far they have kept it above $3.20 on the bounce so still short 27,000 shares short. I wonder how many traders shorted this into this offering. I can't wait too much longer as I have seen these things turn around when there is such a crowded short trade. OH, lucky me, started getting filled on some of my $3.20 order, 1200 shares so far! 8800 left on that order. THIS IS FUN!
Darn, they traded some at $3.20, but I didn't get filled any shares, now has bounced up, I will wait a bit longer, still 27,000 shares short. Panicked people don't realize that this will bounce higher once the syndicate comes in to support shares. People are so moved by emotion, it is sad for those who do and lose so much.