Took a big position in Aug 45 puts this morning. Ebays auction and Buy It Now sales are in the toilet. Offering thousands of free listings but that will do no good. The current management have turned a once great selling avenue into the worlds largest garage sale. They have lost too many good sellers because of the programs they have put into place. They have made it a home for bottom feeders and scam artist buyers. They are not smart enough to figure out you can attract all the new buyers in the world but when there are no sellers to sell them. It does not matter.
Paypal has been their cash cow and now its going to get heavy competition. This thing is headed back to 28.00.