Don't know if this affected todays price decline, but someone closed out 561 May 35 Puts. There are still another 500 or so still open. Not sure how much a market maker can do to hold down the price to allow the sale of these puts at a profit, but nothing would surprise me. 561 puts is equal to 56,100 shares.
Time and Sales for AVD May13 35 Put
Date Time Exch. Size Price
5/13/2013 11:37:07 CBOE 124 5.10
5/13/2013 11:37:07 CBOE 75 5.02
5/13/2013 11:37:07 CBOE 15 5.10
5/13/2013 11:37:07 CBOE 347 5.10
That was me rolling them out until November....LOL I have sold of the money puts for 2 solid years and made a fortune. This stock was obviously undervalued so when it was 18 I was selling 22.50's 4 months ahead and when it was 21 I was selling 25's and have done it all the way up. Insanely profitable but now with the company having its head jammed up its own #$%$ I am just rolling these out until i can see a pop and cover them. The company is extremely well run and very profitable but clueless in terms of how to promote themselves with analysts and protect their shareholders. I was a huge supporter of this stock and probably did more to support it than the company itself but I have lost confidence because of their arrogance and naivety of the way the market actually operates.
Echo your sentiment Fan. I've been an investor since the stock was at $23. You can't tell me it shouldn't be $35/share, on par with Monsanto's valuation, or more. Lightly traded doesn't need to equal heavily manipulated, and we have been.