You're interpreting it correctly. There's no rational explanation. Even someone who knows "something bad" should have exercised them and sold them on the market to capture the difference. Moreover, the result of the last auction, in general, was good, which makes the situation even more striking. In my opinion, someone simply forgot they had those options in their portfolio and missed the date... nothing more, nothing less.
ATP Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
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