SGY was capped by a block of 550000 shares B#85Most oil stocks had huge volume, SGY not so much and the stock was capped by a block of 550000 shares for sale @ $.55 posted by Scotia on Feb 22 @ 21 13. None one was ready to take out that block. There were about another 100k shares before the block at the same price..
Few sellers who wanted to chase other stocks sold SGY less than $.55.
Just before the close few buyers started hitting the offers at $.55. They took out all shares posted before the block and some shares from the block. At the close, there were 393500 remaining shares from the scotia order still outstanding. There were few other shares for sale at the price.
The stock would need a much higher to make a decent move in price like other stocks. So far SGY has been a laggard.
| # Orders | Shares | Bid | Ask | Shares | # Orders |
| 8 | 140000 | 0.540 | 0.550 | 498000 | 12 |
| 23 | 167000 | 0.530 | 0.560 | 395500 | 20 |
| 17 | 181500 | 0.520 | 0.570 | 176000 | 10 |
| 4 | 79500 | 0.510 | 0.580 | 154000 | 16 |
| 20 | 169500 | 0.500 | 0.590 | 223000 | |
