Interesting theory.Never heard of it, but may be a bit overly...

Interesting theory.
Never heard of it, but may be a bit overly complicated in CYP's case.

Since we hit our high of $1.66 and pulled back, only 327,410 shares in total have been traded on ASX...or less than 0.3% of total.

Given Fuji could have already pulled the trigger, ie: gone anytime, I'm am not so sure of the ST speculators and D traders pulling out on a risk basis of SP going under $1/ probability of Fuji exercising as they could have been caught already....anytime

Main reason for pullback on insignificant volume...
Indicators were all overbought from RSI/ Moneyflow after that 70% recovery run from under $1....and we were at all time highs after breaking 158.
Always going to be some profit taking for myriad of reason...but again, volume insignificant. 

I also do not think GvHD option will send us to $5-10
imo, the most likely range will be between $2 and $3. but depends on what time frame you are talking regarding "settle" (week/month/months?)
and given the recovery from $1 to all time highs already, I think likelyhood of Fuji converting is already half baked into that run 

I also don't think Cynata has the liquidity / volume to do much useful analysis just yet.
The best analysis is probably keeping a close eye on the T10-T50. and there really isn't much action to speak about there.

Good to read some different analysis though Timber.