They won't let it get past 12.5c will they.
A very few transacted at 13.0, but very few.
The 12.5c buyers just sit there and refuse to budge. Why would they budge I guess given that someone always comes down to hit their bid.
Could they be selling to themselves at 12.5c just to keep a lid on it? It would only cost them brokerage/transaction costs if they did.