It's a call option spread in theory....They shorted at market to...

It's a call option spread in theory....They shorted at market to two banks in view of getting more shares that are at higher value. When conducting the strategy with equities there is no theta (time decay), so their motive is basically ok, we are happy to lose out on these shares we shorted if it goes higher on the proviso we get more shares at a higher price that way we know it is moving in the right direction. The Banks will profit any way as they are a net buyer if it goes higher they will need to purchase shares on market and transfer to La Mancha I am not sure what the Out of Money call strike price is it was never disclosed but suspect it's between 30-50% higher than current prices.