All the oilers up strongly except SXY. I'm not a conspiracy...

All the oilers up strongly except SXY.
I'm not a conspiracy theory person, and I see takeovers called about 20 times more often than they actually emerge, but if you wanted to make an offer for SXY based on VWAP and you already held a few percent (but not enough to have to make a substantial holder declaration), you could spend $500,000 in possible lost profit to keep the share price low in order to make an opening bid that looked ok, but had baked in upside when you took the cap off. Worth doing even if it only resulted in a paying 2 or 3% less in the final wash up, but if it ends up in saving you 5 or 10%, it is a great strategy.
With its large cash in the bank, SXY looks very, very cheap in a rising oil market.
Any old ADE investors here?