That is an interesting observation jermaynew - although in all my experience I have never seen option expiries drive a price up by over 10% before. If what you say is true there are institutions out there with naked calls trying to buy to cover their position, assuming they hadn't hedged on the way up or at the beginning which is what most do - just so you know, no institution or even punter goes in with naked positions but anyway...! The puts would have most probably expired worthless given they were probably written at a time when the stock was trading below $4.50 - $5.
Hmmm...there could be an element of this but it could just be the market reacting to other dealflows in the oil and gas sector. Who knows?!! We'll see I guess!
OSH Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
