It is hard to figure out a lot of things about IRI. The behavior of the marketmaker is one of them. Today, IRI traded at 3/4 and 11/16 all day on decent volume (for IRI). Tonight, the mm puts the ASK at 11/16 and the bid at 1/2. How did he come up with that?
The last couple weeks we have been seing more activity.. Interesting that it is coming right before the settlement of arbitration/earnings/annual shareholders meeting?? Could somebody know something we don't?? Who knows?? The next 6-8 weeks should be interesting..