Those buying the options over the past few days for the...

Those buying the options over the past few days for the arbitrage opportunity are going to be hurting tomorrow when the heads fall back further. There was very little reason to be buying those imo - once the ex date was in, this was always going to fall back.

Yes, my view is a little more contrarian at the moment simply because the corporate activity here needs to wash through and until that happens, a sustained upward movement won't happen.

Too much free/cheap stock out there right now.

I am free carried now in the options and will look to accumulate more in the low 2's. My view on the stock hasn't changed but the short term bias is to accumulate at lower prices and keep a level head.