Thu, Apr 17, 2014, 9:48 AM EDT - U.S. Markets close in 6 hrs 12 mins


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  • KEM60 KEM60 Nov 22, 1999 5:54 PM Flag


    I think it's quite likely that today's trading
    had little or nothing to do with company
    fundamentals, etc. and everything to do with unwinding the
    large call positions from Friday at the 17.5 - 25

    I no longer have the open interest sheet
    where I can find it but I believe that quite a few of
    the calls at 25 and under were probably exercised,
    possibly as a "look see" to see if there would be news
    today and when there was not, the shares were put up
    for sale.

    There has been significant block
    trading in the past four sessions, including a 25k block
    today. The market makers have taken in a lot of stock
    fairly close to the recent high. In the recent past,
    such as on the move down to 13, they have been
    unwilling to bid and sellers have been forced to take
    unreasonably low prices for their shares.

    activity is likely to continue though, as long as there
    are people speculating on news and that news is not

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