See March $6, $8, $10 puts....$6 & $8 buys are beyond stupid$10 puts, 300,000 @ 59 cents =$177,000
$8 puts, 240,000 @ 19 cents = $45,600
$6 puts, 150,000 @ 6 cents = $9,000
Total Loss = $240,600.
I happen to look at March options, lots of Put action.
Does this guy know something we don't?
Is this why sp was only up 2 cents, from what I can see, the buys were made in afternoon, same time sp weakend.
Anyone have a theory?
My theory is, a slob Shorting, with large exposure and deep pockets, is trying to manipulate sp by buying a large amount of SCARY puts and halting sp rise.............$10 Puts (could happen)......$8 & $6 Puts (impossible, which leads me to think manipulation or does this guy know something not public yet).
Thoughts please.