Right now there is zero interest in the stock so they can manipulate however they want. No offense but I am guessing you are holding all 7 sep 13 2.50. With this kind of option volume, the market is really saying much ado about CRIS.
Which kind of surprises me given that Curis is an innovative small cap bio with offerings that are quite novel to the field of cancer treatment and a CHMP decision that is by now overdue, especially considering the amount of attention and volatility that ARNA has been receiving lately. All in due time, I suppose.
Think I'll just try to sell it at the price I bought it tomorrow. If I can do that I'll ignore the fact that the mid never budged despite the stock going up 5% over the course of the day Friday. If I see anymore nonsense though I'll be complaining to my brokerage. Guess that's a lesson not to buy options that have such low volume in the first place.
I suppose with volumes of this sort its somewhat irrelevant what happens to the mid short term anyways. The MM's are only OBLIGATED to buy it at the bid price, after all, correct? So with such low volume I assume that there'd be no assurance of being able to sell at the mid anyways.