I expected this would happen. Not everybody can pull out...

I expected this would happen. Not everybody can pull out $50-100k to exercise the options. There is bound to be some selling happening even at discount to the FPOs. remember options were dirt cheap only a few months ago so the buyers then would not have put a lot of thought into the capital required to exercise the options. Good profits to be made via the options for those with sufficient cash. Time for the rich to get richer? :o)