Read the optiomonster article here on Yahoo yet the buying continues in the face of the deal not happening. I'm out today of my last longs but this makes little sense unless there are 2 things happening (1) somebody knows something and that was a false report on Wednesday or (2) it's a setup for the put options and shorts to cash in.
I credit or blame if you're short todays rise on options expiration day. Major short squeeze with people running around closing their short positions. I agree, tuesday will definitely be a large down day. If you look at the option premiums market is clearly looking for a downturn. With the stock at $16.60 march $16 puts were going for over a buck, that;s absurd.