So, what happens when the upgrades start coming in?
The shorts are doing a poor job of knocking this down. It's still almost 40 cents above it's low of a couple of weeks ago. Good luck getting this back down to $2.50. So what happens when the upgrades come in, from analysts and even S&P upgrades their credit rating as Mt Milligan gets closer? Not going to be fun for whoever is holding those tens of thousands of puts in December. No buffer zone anymore. This was supposed to drop to about $2.00 post-earnings, so that the shorts could sell off from $2.00 to $3.00. But now there's no buffer and nothing to drive this stock down long term.
Sadly. I added @ 2.80 but made a new order @ 2.70 just a few seconds after it dropped below and surged above. I missed this opportunity by a few seconds. Hopefully shorts will hammer the stock a bit more so that I can add. I'm not in a hurry.