NO IT IS NOT!
Reverse Conversion of 6691 options equaling 669,100 shorted shares on 4/16. 21.6% of the shares traded that day. I am almost done with my analysis and the RCs resulted in massive carnage to Arena longs and other stocks I'm looking at.
Something positive, look forward to Arena's presentation this week.
Sentiment: Strong Buy
Alot of those calls have matching puts. Please refer to my previous posts about reverse conversions. I don't see this as bullish at all but a way to artificially create shares out of thin air in ARNA whose stock is incredibly hard to purchase on the market or short for that matter.
a lot of people are hedging their short position, clown. It puts a lid on the squeeze, its really cheap insurance. But you dont know enough about money to think it through, "somebody is very positive," right? Keep pumping your sheep, they're tight.