I'm also not 100% sure this news is priced in either. If I were short I'd fear this may be one of those rare instances when you don't see a selloff on the news. M2M will just have such an impact, not too mention not knowing what kind of writeup's there may be.
It could also go to 9 and never see this price range again. I'm long on calls here, but don't mind shorting a stock. I hate shorting and holding over night though. A short position here would sure make sleeping very hard, for me anyway.
if you did really short this a $6.10, which I don't know that I believe, but if you really did, I wouldn't try to be a hero, I'd cover right this minute and thank God I got out of that whole foolish mess. What were you thinking?
cover now! You can always short it later on when it's actually got a reasonable chance of making money. As you did it, you might as well put it on red at Vegas. And remember, the house as the advantage!