Indeed l3xm4rk the SP pushed down in a manner designed to attract as many other sells in its wake for a minimum outlay of shares - standard capping tactics with the offer side showing unusually high sells above 16 - unusual that is in the number of sells not the total amount for sale.
So on a day like this you would think the options would demonstrate reverse leverage and fall back to the 8c - 9c range. I mean all those "genuine" sell orders must be of great concern to those who hold options.
Yet the reverse happened the 10.5 line is completely cleared in the OAs which are now offered at 11c.
If we do have a capper (and I believe we have at least one) then today he went aggressive and was prepared to sacrifice more of his shares than usual in the hope of forcing more holders to panic and sell.
It didn't really work so next best thing is to buy all the OAs at 10.5c to partially make up for the unecessary sacrifice of shares today.
Unless an HC reader can reply and say "wrong that was me buying in 75k bites at 10.5c today" then I think our capper may have got a little hurt today.
EB
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