Mass destruction underway as evidenced. by high Put/Call ratios reported over the last 45 days. The cycle of Puts buying has turned into a self-fulfilling cycle and, as a result it can/will only gain strenght from here.
No positive news in sight to break the "MBI Downtrend". If you listen to the Earnings Conference Calls, MBIA Management has written off 2013 and are now preparing for 2014.
What makes you think that current put/call is not a manipulated one? I have no faith in this volume any more, it's all manipulated. Including the price, it's all manipulated. What we can do is if you are comfortable at some PPS then just buy it and if you think you made some profits then just sell it or wait until you hit the target. Call/put volume and PPS day-to-day is all manipulated. IMO, please do your own DD.
I agree...some very big fish are moving this down and writing a ton of puts on it. They have made a huge return by making the options expire worthless...My belief is that this will subside after Oct option expiration. We should have some news by mid Nov regarding Ally settlement and the rating agencies.