Hi debono ... MAY is tricky for derivatives traders at the moment ...
MAY has tanked so much that the warrant offerings are so far OTM (out of the money) that the MM's had to ramp the VOLATILITY thru the roof to get warrants barely back on the radar screen ...
MAYWGF is probably only worth $0.001 at the moment ... (haven't crunched the numbers since Friday) but MM's trying to get 10 times that ...
The evidence is that underlying MAY rose $0.16 but WOWWGF failed to move at all ... you get the idea.
MM's will now attempt to soak up this Volatility ...
My guess if there are big buyers out there then we shall see some 're-pricing' and/or new Warrant offerings quickly ...
For those who really want to get set ... WOWWGF on percentages for a quick trade ... but note that at these times ... no conventions apply ... anything could happen.
Given the Smedley/Medical Mafia issues are far from resolved and the media is bound to have more on this in the days to come ... MAY could go anywhere pricewise IMHO...
I would suggest a view from the sideline might be best ...
This is only my view ... read the red stuff.
SYB Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
