Last year we don't have that much speculators locked in at 30c,...

Last year we don't have that much speculators locked in at 30c, but we do this year, therefore I think they are not participating in the selling today...if they did then I may expect more offers around the 22c region. I thought it was aggressive in a way that the intra-day price increase is larger than what happened last year (I recall that last year we had 22c then 24c), prob due to lower liquidity.

A side point is that I don't think MC is part of this today because if I have lots of money and wish to accumulate, I don't want the price to increase too much in a day, as this is contrary to my purpose.

So I think speculators are at work now.