I thought the deal was a Put Selling exercise...at $3.80. In...

I thought the deal was a Put Selling exercise...at $3.80. In other words they received some cash flow/Income from their shareholding. The exact fine details were never disclosed. However below $3.80 there would be a threat of the purchaser of the put being in the money blah blah blah. As I say never saw the "detail". Not sure where you got that it was a Call Option Spread. The end result is that the stock has been hit by higher volatility on the upside and downside. Me thinks the quants who worked on this deal will be paid nice bonuses. Strategies earn money from volatility. I am not saying the manipulation was illegal just that this deal created a fluid dynamic market in this stock. The volatility would have helped both LaMancha and the Banks...expiry date unknown???