Lol ... at bid? ... look like a .. Call sell to me! Probably someone long 4m shares! collecting 40c premium!
It would have been bullish .. if the price was 0.55. Unfortunately ... it was at 0.40 ... signaling it was likely a seller initiating the Trade!
Once again the better trade here is buy the Preferred @.79 which pays a dividend and NEVER expires. You could've purchased 1,772,151. shares of MTL-P . which may have been the play from a common stock holder.
If I would be an interested buyer of that many contracts, I would put in limit at bid and wait, newer pay ask
This is huge and bullish.
This volume tells that someone knows something......!!!!!!! and betting lots of$$$$. Big money
Also remember MTL is Russian company and mother Russia is famous for brother helping brother or a friend or a beer pal...... Could be a perfect leak from "banya" (russian sauna) gossips
If MTL comes with just slightly improving picture, stock will double in no time. Market cap is tinny 1.5B
I say, $7+ range in April, I almost guarantee it))))
Once we see a light at the end of a tunnel we all be looking into 2009 type of a reversal.
Sentiment: Strong Buy