Think it's shorts covering on lock up news.Bot some jan $20 at .60 well seeGl
It was an unlock, so, as a short, was expecting it to drop like a rock today. But, I'll wait another day, as this can't stand up on it's own.I'll buy some puts after I cover.
lock up today but the insiders may be waiting until next week to get capital gains treatment in 2012. Anyone have any other ideas?
well, we know it's overvalued and a pig....sold my jan call's today for about even and loaded up Feb $20 puts, Jan $25 puts with a 10% hedge with Feb $25 calls. Anything can happen on these newer IPO's. I always use some sort of hedge