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Nutrisystem, Inc. Message Board

  • akaoutwest akaoutwest Sep 23, 2011 4:18 PM Flag

    NTRI: SHORT Cover

    It's a blessing we have so many SHORTS

    quick and smart enough to

    buy and cover their SHORT NTRI shares

    at this time.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Even so -- NTRI gained 5 % above the S&P during these past 3-days !

    • It is something else, very clearly, volume and big jump up on a modest day for the market.

      • 1 Reply to redgreensmile
      • I disagree that there has to be something more than short covering. Friday's volume of 589,514 is not that much more than the recent average of 397,006. What I find extremely interesting is that such a low volume of shares was able to move share price up 9%. One could read that as a sign that longs do not want to sell at these levels, especially as the company continues to buy back shares.

        The November 13 strike calls and November 10 strike puts show some signs of activity as well as the December 15 strike calls and the December 8 strike puts. Someone even went for some January 2012 30 strike calls and a fair amount (426) of expensive ($1.75) March of 2012 11 strike call options ($74,550). Finally, throw in 383 January 2013 $10 strike puts for $1.80 ($68,940).

        All in all, though, that activity is nothing compared to the number/percent of shorts that are trapped here if it only takes half-a-million shares of buy-side action to raise the share price 9%. Personally, I think some shorts simply decided that the $11 dollar level was as good as it gets for covering and they probably have better short opportunities elsewhere at this time. I don't read much more into Friday's activity other than a few shorts locking in profits.

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