There were those that thought Sandridge thought Ch 11 would be filed well before now. They have been wrong. There were those that thought Sandridge would never make the interest payment. Well, they were wrong. Clearly, such companies are waiting to see if oil bounces back. If it does, then these companies may not just survive, they may thrive. Sandridge has downsized and I can see where they could come out of the hole quicker than most might think.
Until SD comes out with good news or investors shake off the BK fear, SD will likely continue to trade in this narrow range. I suspect oil will rebound some within the next 60 days so that should help.