Similar to share price bashing shares being sold to cause tight stop losses is another way to buy options at a lower price and get better value for money at the options conversion time .
Whoever is doing this knows that 0.55c options conversion is inevitable due to a strong FA near term news. In my opinion this is not a share price manipulation. It is rather an options accumulation by someone who knows that those options WILL BE IN THE MONEY.
Reason why 0.38c held is because that's a strong support level and there was buying from retailers. This is indicated by a very strong money flow index that went from 30% two 62% indicating high demand at current prices.
Share price went down by 7% and options went down by 10% with 664000 options changing hands.
I strongly believe once options are converted that whoever sells them will bring the share price down to the low support level of 0.47c again.
Again this is just my opinion but also a good way to make money and fly under the radar. I don't condone it but it's a nasty world out there so I'm prepared for any tricks of the trade.
GLA
LPI Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
