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Post by joeypotsandpans on Aug 5, 2015 10:19:16 GMT -5
Bottom line is where that number goes come (as Ashiwi mentioned originally) the open tomorrow, if it is +/- 20k will tell you if they were newly opened or closed out, if it remains the same then more than likely it was done as an exchange between desks within a firm(s) or as you term "dark pool" and showed up in the volume for the day. Only other possibility (thinking out loud) is there was a one digit error and it was meant to be 2k instead of 20k and was straightened out, or 1k instead of 10k and the reversal showed as 20k volume, would have to ask an options desk clerk or options exchange how that is typically handled. Bid Ask Last Change Vol Op Int 3.0 Call 1.45 1.60 1.56 0.00 0 12,094 3.5 Call 1.20 1.29 1.10 0.00 0 3,063 4.0 Call 0.94 1.00 0.95 0.00 0 19,788 4.5 Call 0.73 0.90 0.89 0.00 0 10,330 5.0 Call 0.63 0.66 0.64 0.00 0 62,205 5.0 Call 0.63 0.66 0.64 0.00 0 76,636 5.0 Call 0.55 0.60 0.58 0.03 10,025 97,777 5.5 Call 0.46 0.51 0.51 0.00 0 16,886 +35,572 contracts opened...since friday with a possible additional 10k today, coincidence in timing?  |
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Post by cjc04 on Aug 5, 2015 10:39:47 GMT -5
Joey, I've been watching this very closely, as I'm considering buying them myself before Friday.... I noticed this morning that the spread opened around .55 - .80. Slowly worked down to .55 - .65, then I look again and there's 10k in volume between .55 - .58. It seems to me like a seller came in and lowered their price until they got the volume they wanted... Which is concerning to me........ However, if it's simply an MM hedging a purchase of stock (maybe to fill a large order) then it could be a good thing. I agree that the timing is interesting for this volume,,, I also think it's interesting that the CC is scheduled on day 9 of the 10 day convert period... We may get stone walled and find out nothing. A day in the life of a MNKD long I guess.....  ? |
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Post by joeypotsandpans on Aug 5, 2015 10:47:47 GMT -5
Joey, I've been watching this very closely, as I'm considering buying them myself before Friday.... I noticed this morning that the spread opened around .55 - .80. Slowly worked down to .55 - .65, then I look again and there's 10k in volume between .55 - .58. It seems to me like a seller came in and lowered their price until they got the volume they wanted... Which is concerning to me........ However, if it's simply an MM hedging a purchase of stock (maybe to fill a large order) then it could be a good thing. I agree that the timing is interesting for this volume,,, I also think it's interesting that the CC is scheduled on day 9 of the 10 day convert period... We may get stone walled and find out nothing. A day in the life of a MNKD long I guess..... ? I will respond in the "material event" thread regarding thoughts and possible strategy regarding same |
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Post by joeypotsandpans on Aug 6, 2015 9:29:02 GMT -5
Bid Ask Last Change Vol Op Int 3.0 Call 1.45 1.60 1.56 0.00 0 12,094 3.5 Call 1.20 1.29 1.10 0.00 0 3,063 4.0 Call 0.94 1.00 0.95 0.00 0 19,788 4.5 Call 0.73 0.90 0.89 0.00 0 10,330 5.0 Call 0.63 0.66 0.64 0.00 0 62,205 5.0 Call 0.63 0.66 0.64 0.00 0 76,636 5.0 Call 0.55 0.60 0.58 0.03 10,025 97,777 5.0 Call 0.55 0.81 0.59 -0.01 6 105,347 5.5 Call 0.46 0.51 0.51 0.00 0 16,886 continuing at +43,142 contracts opened...since friday Read more: mnkd.proboards.com/thread/3131/2016-call-abnormal-volume-today?page=2#ixzz3i2r2kXy2 |
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Post by jpg on Aug 6, 2015 11:45:01 GMT -5
Bid Ask Last Change Vol Op Int 3.0 Call 1.45 1.60 1.56 0.00 0 12,094 3.5 Call 1.20 1.29 1.10 0.00 0 3,063 4.0 Call 0.94 1.00 0.95 0.00 0 19,788 4.5 Call 0.73 0.90 0.89 0.00 0 10,330 5.0 Call 0.63 0.66 0.64 0.00 0 62,205 5.0 Call 0.63 0.66 0.64 0.00 0 76,636 5.0 Call 0.55 0.60 0.58 0.03 10,025 97,777 5.0 Call 0.55 0.81 0.59 -0.01 6 105,347 5.5 Call 0.46 0.51 0.51 0.00 0 16,886 continuing at +43,142 contracts opened...since friday Read more: mnkd.proboards.com/thread/3131/2016-call-abnormal-volume-today?page=2#ixzz3i2r2kXy2And what does that mean to you (I'm asking and not making a statement here...)? |
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Post by joeypotsandpans on Aug 6, 2015 12:16:54 GMT -5
And what does that mean to you (I'm asking and not making a statement here...)? J, believe me you're not the first one to ask me that ....to be honest, I interpret it as a position taken where those calls are used as a hedge while shares are sold into the market for whatever the ultimate purpose (keep s/p in check for a period of time, etc.)....on the other side of the trade as those calls are sold by the MM's they are buying offsetting shares so they limit their exposure simultaneously. In effect 45000 contracts equivalent to 4.5 mill. shares over the course of 4-5 trading days is avg. of 1mill sh/day....so no real net effect on the price, yet tends to keep a lid over it IMO. That's my "guess", anyone have another theory...I'm all ears... |
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Post by ashiwi on Aug 6, 2015 12:47:12 GMT -5
Another 10,000 contracts traded today @ .48 (the low for the day).
Looks like the bias is for those calls being sold.
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Post by kc on Aug 6, 2015 13:08:41 GMT -5
Can anybody explain on Level two watching the time and sales action how these transactions are happening. When watching the collection of the sales or buys and the size. Why or how do the HFT traders sell or fill these orders. Are they trading back and forth? I never understand how the are filled. I have seen when buying orders for instance 5,000 shares that one time last year it took actually 15 or 16 individual transactions to complete. I did that with a Limit order. But I see this daily happening.
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Post by lsl428 on Aug 6, 2015 14:25:32 GMT -5
is it possible that these huge call sales are possible hedges against shares being converted from the note?...these massive block trades are happening in tandem with this 10 day conversion feature...just putting that possibility out there
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Post by liane on Aug 10, 2015 8:44:20 GMT -5
...And the 10,000 daily aliquot just went through. They're early today - maybe think the price will go up today?
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Post by ripano on Aug 10, 2015 9:12:21 GMT -5
We are witnessing SHORTS AKA BUYERS AKA Wall Street calmly purchasing Call options to unwind their trade in MNKD.
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Post by liane on Aug 10, 2015 10:09:47 GMT -5
Doubling down today - a total of 20,000 contracts so far today.
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Post by longstocking on Aug 10, 2015 10:22:47 GMT -5
I'm now holding over 500 contracts for $3, $5 and $7 calls for Sept 18, Jan 15 2016 and Jan 20 2017. My shares are not lent out and I have the cash to execute most of my calls early - which I plan to at the slightest hint of onset of a squeeze. I know that 50K shares aren't a lot in the bigger picture, but just wanted to help add a bit of fuel to the fire once it gets started (if a squeeze comes) - if not, I'll still execute near expiration as I don't plan to sell them if I don't have to. CC gave fair warning to shorts. Get out now before it's too late.
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Post by joeypotsandpans on Aug 13, 2015 12:20:50 GMT -5
And what does that mean to you (I'm asking and not making a statement here...)? J, believe me you're not the first one to ask me that ....to be honest, I interpret it as a position taken where those calls are used as a hedge while shares are sold into the market for whatever the ultimate purpose (keep s/p in check for a period of time, etc.)....on the other side of the trade as those calls are sold by the MM's they are buying offsetting shares so they limit their exposure simultaneously. In effect 45000 contracts equivalent to 4.5 mill. shares over the course of 4-5 trading days is avg. of 1mill sh/day....so no real net effect on the price, yet tends to keep a lid over it IMO. That's my "guess", anyone have another theory...I'm all ears... Meanwhile, back at the (options) ranch: MNKD Aug 21 2015 8 Days to ExpirationCollapse Calls Calculator 3.0 Call 1.16 1.35 1.09 0.00 0 900 3.5 Call 0.65 0.85 0.83 0.00 0 574 4.0 Call 0.27 0.32 0.34 -0.08 246 14,181 4.5 Call 0.05 0.07 0.06 -0.08 4,924 11,091 5.0 Call 0.02 0.04 0.02 -0.03 275 24,565 5.5 Call -- 0.02 0.02 -0.01 232 7,288 MNKD Sep 18 2015 36 Days to ExpirationCollapse Calls Calculator 3.0 Call 1.11 1.38 1.25 0.00 0 116 3.5 Call 0.70 0.97 0.70 0.00 0 329 4.0 Call 0.42 0.62 0.46 0.00 0 625 4.5 Call 0.23 0.36 0.31 -0.08 5,017 645 5.0 Call 0.11 0.19 0.17 -0.03 2,723 2,161 5.5 Call 0.06 0.15 0.10 0.00 203 1,901 MNKD Jan 15 2016 155 Days to ExpirationCollapse Calls Calculator 3.0 Call 1.35 1.45 1.41 -0.10 9 12,865 3.5 Call 1.05 1.29 1.15 -0.08 200 5,209 4.0 Call 0.85 0.93 0.89 -0.03 116 20,506 4.5 Call 0.64 0.75 0.70 -0.08 12 10,535 5.0 Call 0.55 0.58 0.59 0.00 752 148,137 5.5 Call 0.38 0.52 0.38 -0.09 3 17,353 MNKD Jan 20 2017 526 Days to ExpirationCollapse Calls Calculator 3.0 Call 1.82 2.00 1.92 -0.07 58 33,741 3.5 Call 1.49 2.25 2.10 0.00 0 521 4.0 Call 1.47 1.71 1.60 0.01 3 5,228 4.5 Call 1.29 1.92 1.40 0.00 0 1,070 5.0 Call 1.18 1.28 1.25 -0.05 21 33,153 5.5 Call 1.09 1.72 1.10 0.00 0 868 The call action has been steadily climbing the past two weeks, looks like they may have rolled the AUG 4.5's into SEP and bought themselves another month...funny how that certain portion of the convertibles were extended into SEP. |
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