Any thoughts on the OCT $2 PUT contracts Do you guys think this is a protective PUT by Cooperman or another big shareholder, or an outright naked short play? Whoever wrote that PUT (if covered) is taking a beating. If this makes it down to $1.30 range and the chart looks broken right now and could, they stand to make 3.5MM and who ever wrote the put could be losing 7-8MM. Let’s hope they cover soon - $1.50 would be a nice spot.
Keep an eye on the position and when it is exercised this should turn. Declaring a nice dividend would go a long way to making that happen. At .20 divident would cost them $78,800 per month to carry. Wouldn’t be as enticing.
GL