The trading pattern over the past two weeks is obviously someone wanting to discourage option conversions. Tiny sells into the bid for a few hundred dollars at a time and sometimes crossing the spread if its a few ticks even just to sell a few hundred dollars worth.
The only reason I can see for this is so CDX doesn't get the full 8M in cash from conversions and will be forced to cap raise for the CONNEQT launch etc.
EG: last trade at 6.1 for $630.
Ann: Application for quotation of securities - CDX, page-27
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