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Thoratec Corporation Message Board

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  • dontdropyourlunch dontdropyourlunch Apr 8, 2010 3:35 PM Flag

    Unusual OPTION Trading Activity For THOR

    I have only been in THOR in any size since the middle of 2009, and the only thing I wonder about with the shorts is whether a long time ago THOR did some convertible offer where they will buy the convert and sell the stock short. Has that ever happened in THOR in the past few years? I ask because I was putting on a position in FCX about 2001/02 when it was going for around $10-$15. FCX was doing convertibles several times per year to service their heavy debt load, and it had a huge number of shorts who were really convertible holders who also shorted the stock. It was tough to buy FCX right, and putting in garbage bids GTC waiting for a convertible offer was the only way to get a good price. One morning I woke up and my $9 trash bid for FCX went off on a surprise convertible. Clearly THOR does not need to do this kind of crap, but I am just asking if THOR has done converts in the past. I have not checked it out. Clearly if THOR has not done converts, this is a moot point and the shorts are just going to have to scramble sometime. Now observe I have had CREE over the past years, and you can check the shorts in CREE have stayed in large size during this entire multibagger up move. Seems nuts to me, but look it up. It is true!

 
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63.50+0.05(+0.08%)Oct 8 4:00 PMEDT