Icahn knows what he is doing. Who knows the timing but what most of us do know, when it happens there will be no shorts spared... It will be fast with precise timing...
He's buying just enough above $36 to toy with the shorts. This is a seller market now. There's no need to waste resources pumping it up. There's better shorting opportunity elsewhere for the smart shorts.
It's staying put, grandpa must be taking the afternoon nap.