CTIC Jan 2.5 Calls

T

TM1982

why are these no bid at a nickel when stock is 2.20, 7 mths to expiration, and they just announced huge cancer news??
 
Wow...you would think everyone wanted them at that price. Maybe some huge hedge fund wrote some calls when the stock was trading at 5 cents back in march and just forgot about it because they thought "No way its going to 2.50"

I bet the guy that sold at 5 cents is kicking himself now.
 
I tried to buy a boatload of those this morning but got a message that it was a non-standard option contract. Called the broker and he said there was a reverse split associated with it. The option is the right to purchase 10 shares instead of the normal 100 shares. So that 5 cents is really like 50 cents plus you gotta pay extra commissions for all those extra options.
 
Quote from peilthetraveler:

I tried to buy a boatload of those this morning but got a message that it was a non-standard option contract. Called the broker and he said there was a reverse split associated with it. The option is the right to purchase 10 shares instead of the normal 100 shares. So that 5 cents is really like 50 cents plus you gotta pay extra commissions for all those extra options.
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The effective strike price is also $25, not $2.50.
 
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