Again, very good points. You're right, I am assuming this is a naked short here taking a short term position by selling the calls, not a long selling covered calls. It is simply my best guess based on looking at what is going on with the stock. Someone who is long here and really believes in the story of this stock would likely buy put protection at this point, not sell calls. Why give up the tremendous upside if there's a buyout/good news? I admit I might be wrong and you could definitely be right. But either way, it is not a very bullish short-term indicator.
Sure, a long can buy puts, but he's got to pay for those, whereas writing calls generates cash now.
I agree that a short term pull back is likely and there are ways to play that for a trade, but not everyone is a trader. But if you're short, I don't think you have the luxury of time because all it takes is a headline to ruin your trade.