If you factor in people who bought options at higher prices, I don't think anyone is trying to cause panic. I have a decent amount of holding in CAP and no matter how you look at it, unless CAP makes a run before 23rd of June, CAPO conversions will be at a premium and not many would find that attractive hence the dramatic drop.
You're looking at 50% drop and 70% drop on CAP and CAPO respectively since the run a short month ago. Whoever suggests there aren't any concern should reshuffle their heads.
CAP Price at posting:
33.5¢ Sentiment: Sell Disclosure: Held