PTQ/VMD spread
Watching the gyrations in VMD today you may have noticed the spread between VMD/PTQ based on the original 10/1 ratio (a long time ago of course) currently sits at 1.39/1.13 in favor of VMD.
VMD had a dies horribilis. It never ceases to amaze me the number of endless plays in the handbook of professional traders. But today is one for the ages and amusing, if you weren’t part of the VMD Hunger Games.
I would think the spread will even narrow further as the buying momentum in PTQ gets underway as today seems to be indicating, -in PTQ’s price and volume.
Besides, the PTQ balloon isn’t flying anywhere near as high as VMD’s was before the quarterly results, at least yet. Perhaps when we leave the trenches we should crawl, not walk over no man’s land to avoid the bloodbath we saw in VMD today.
But really, to have VMD’s opening bid/ask set at $15.70/15.80 -over yesterday’s close of $14.87 really stretches the imagination and the alligator’s mouth for all those smiling faces to enter.