Well if you are paying 14c a share for CXSOA options and have to cough up another 75c when they expire in feb2012 you must think a price above 90c is on offer otherwise you have done your doe. That is in complete reversal with what the ordinary shares did. No logic i cant explain it. But it indicates the ordinary stock should be bought up and not sold.
Todays 2m shares sold in CXS represents only .65% of the amount of shares on offer , lets not forget the top20 a few days ago were holding 82%. So todays price fall from 65c to 60c maybe nothing more than someone needed cash.
Closure date is 23may , extension by Cephalon possible also extension once 50% is reached by 2weeks is possible, need to confirm if this is case in this situation.
CXS Price at posting:
60.0¢ Sentiment: Hold Disclosure: Held