More good news for Stoney
Someone today sold, in one transaction, 1450 of the June $7.50 puts on RAIN for $2.40.
(Now we know this might confuse Stoney so I'll help him)
This is an interesting trade. There's a large open interest at that strike, and it could just be someone worrying as RAIN goes up a little and they decided to close their position.
Or it could be someone who wants to collect the premium, ie a new position, and is saying "I have no problem being assigned this stock at a cost of $5.10."
There was a lot of action on this strike on 4/28. I wonder why. I don't see any news on that date.
Stoney? Any help here? Not regarding options, but news?
What I don't understand, is why the price of those puts on 4/28, when the stock traded relatively flat (a $.50 range which is normal) were $1.45 ask in the morning, and $2.40 ask in the afternoon. That's odd. And these weren't small transactions, volume for the day was 4300 contracts. So about $1M. Thats a lot on a $7 stock that only traded 130K shares that day.
And today, with the stock at $8.30 vs $7 on 4/28, one would think those puts would be substantially cheaper, and yet they are the same price. The bid/ask was $2.25/$2.85 on that 1450 contract trade today.
Hmmmm.
The stock is HTB too. Borrow rate is 3%. But only 5% of the float is short. That doesn't make much sense, but I pointed this out last month.
I dunno Stoney. This is one interesting stock. You're either gonna hit the jackpot again on another bio, or it's gonna get cut in half. Whatever happens, it's gonna happen soon I think.
Someone today sold, in one transaction, 1450 of the June $7.50 puts on RAIN for $2.40.
(Now we know this might confuse Stoney so I'll help him)
This is an interesting trade. There's a large open interest at that strike, and it could just be someone worrying as RAIN goes up a little and they decided to close their position.
Or it could be someone who wants to collect the premium, ie a new position, and is saying "I have no problem being assigned this stock at a cost of $5.10."
There was a lot of action on this strike on 4/28. I wonder why. I don't see any news on that date.
Stoney? Any help here? Not regarding options, but news?
What I don't understand, is why the price of those puts on 4/28, when the stock traded relatively flat (a $.50 range which is normal) were $1.45 ask in the morning, and $2.40 ask in the afternoon. That's odd. And these weren't small transactions, volume for the day was 4300 contracts. So about $1M. Thats a lot on a $7 stock that only traded 130K shares that day.
And today, with the stock at $8.30 vs $7 on 4/28, one would think those puts would be substantially cheaper, and yet they are the same price. The bid/ask was $2.25/$2.85 on that 1450 contract trade today.
Hmmmm.
The stock is HTB too. Borrow rate is 3%. But only 5% of the float is short. That doesn't make much sense, but I pointed this out last month.
I dunno Stoney. This is one interesting stock. You're either gonna hit the jackpot again on another bio, or it's gonna get cut in half. Whatever happens, it's gonna happen soon I think.
