It appears that many of the option holders do not seem to have the required cash to convert to heads without having to sell some of the shares. And it obviously becomes a vicious circle because as they sell the shares, this drags down the price of the options even more exponentially and hence forcing them to convert even more.
With oppies, you always always need to have cash to convert. I hope this is a lesson for those - play with oppies only if you have the cash to convert and not have to raise money elsewhere.
MLS Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
