"I've long derided Avanir Pharma (AVNR) for selling reformulated cough syrup, but I ended the year laughing and crying when Otsuka bought the company for $3.5 billion. Avanir was one of the top-performing bio-pharma stocks of the year. Kick me. "
(This morning, from his Street column)
LOL, what is it that you will be reporting? Tell me your first sentence. :)
When I said last week that they'd do a $200 million raise of probably 20M shares at around $10, I was sure that that's where we'd be post announcement. Being down less than 2% today is amazing, and I'm not easily amazed. Good for AVNR.
By the way, you losers who don't like seeing truth can continue to delete 9 out of 10 posts I make, but it really doesn't bother me. Knock yourselves out.
Too bad he couldn't find that 81-page opinion that you swore was leaked to you back in February. What a card you are, lol.
Good riddance, though we all know you'll be back. You're like Herpes in that regard. :)
Yeah, I can see every trade (Time and Sales). The b/a was $ .65/.70 and they went off at $.60. A few minutes later, a few went for $.65. There WAS one trade of 70 contracts at $.66 at 9:52AM, but that's all I see at that price. The b/a was still $.65/70 when it went off, fwiw. Peak price so far has been $.78, just after 1PM.
It was all one trade - buyer and seller were the same. The trade took place at 9:45:55AM.
Since the OI on the Jan 6s was zero yesterday, that buy was most certainly a buy to open. I'd expect the OI on those to show an increase of 10K tomorrow.
Of course, those who know options might counter that this might be a hybrid type of calendar spread, with both sides of the trade being "to open." While that's technically true, the ridiculously wide time spread (Jun to Jan) makes that highly unlikely. Calendar spreads are typically 1-3 months wide, not 7 months wide.
Not sure what you're looking at, but the Jun 5s were sold for $.05 less than the bid at the time (sold for $.60, when the bid was $.65). The ones purchased were the Jan 6s, and they went for $1.42 and $1.43 when the ask was $1.45).
It was a 10K contracts trade, swapping the June 5s for the Jan(2015) 6s.
You should see the OI on the Jun 5s about 10K less tomorrow.
As I predicted. On the day the (ATM) 11M share trade crossed, someone posited that it was a short covering, and I told them that on the contrary, I expected a nice spike up in the short interest on this report.
I also suggested that that trade was likely Cowen buying up the whole allotment for their own inventory (they make a market in the stock) and I'm still convinced that that's the case.
It's a prelude to a new plan being instituted. Look for the new option grant filings shortly.
Manipulation, of course. And let's not forget the evil shorts, and even the weather! Still plenty of mileage to be had from these old standbys.
Exactly. And that's why you were doubly marked down - for not applying the appropriately wild speculation and hype to your post. You clearly forgot just which stock's board you were posting to.
Don't let it happen again.