There were a lot of 50,000 parcels traded on Thurs and it looked like several people who got 50,000 only simply could not be bothered with such a small size parcel and simply pushed off and took their small but nice 140% gain from 5 cent purchase price.
I still think fundamentally the options are cheap, esp if something is found in the 3 GOM wells. The problem will be, where will the sellers come from if no-one is selling. Out of the 65 options holders, it looks like at least 10 of these have already gone west, and several other larger holders will be friends of the mgmt who prob will not sell their shares, so will be hard to see where the supply will come from.
LIO Price at posting:
0.0¢ Sentiment: None Disclosure: Held
