OTCPK:LLEN - Post by User
Post by
Cool_Sciroccoon Sep 21, 2012 12:15pm
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Post# 20396271
Are options part of the problem?
Are options part of the problem? As I write this, there are over 1300 $2 call options set to expire worthless at the close. That's control of over 130K shares on a stock that trades an average of 150K shares/day (but that's artificially high due to the > 2M shares booked in June when LLEN left the Russell indexes.)
There is a lot of incentive for people who sold the contracts to see the price close under $2, and I have to wonder if that's part of the reason the price was quickly driven down after the report of Sept 11.
IMO, stocks priced under $10, and with avarage daily volumes of less than 500K shares shouldn't be eligible for option trading.