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Post by agedhippie on Jan 15, 2016 19:03:22 GMT -5
Thanks. Some comfort that I am in good company. I had calls ranging from $1-9, all beside $9 where well 'in the money' when I bought them. I had quite a few from $3-$5, also well in the money when I bought them! Well that's my tax loss for a few years. |
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Post by ezrasfund on Jan 15, 2016 19:35:19 GMT -5
What about the tally for Puts that are in the money and were not closed out by the seller? I think that must be a very big number and will require some shares be traded early next week.
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Post by dreamboatcruise on Jan 15, 2016 20:05:11 GMT -5
What about the tally for Puts that are in the money and were not closed out by the seller? I think that must be a very big number and will require some shares be traded early next week. Who would have been foolish enough to sell puts. Ooops... where did that extra 1500 shares of MNKD in my account come from and why do I seem to be missing $6750. |
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Post by alethea on Jan 17, 2016 14:36:03 GMT -5
Mindblowing. I stay away from options. My gut says the crooks on the Wall Street made HUNDREDS of millions if not a billion or two selling calls that have expired worthless. Then people say, Oh, they were so smart. Well yes, there are a lot of keen intellects on Wall Street. But it is NOT so much a matter of smarts as it is Cheating, Naked Short Selling, Bribed Journalists, Price Manipulation and other dirty, unethical, outright ILLEGAL behavior. With their criminal behavior they CONTROLLED the price. They took the price down. A small cap stock like MNKD is a plaything for them. I learned as a teenager that Carnival Games were fixed. If only I had learned that about Wall Street a decade or two ago. |
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Post by suebeeee1 on Jan 18, 2016 2:24:06 GMT -5
For the past few years, so many thought that 2016 LEAPS seemed the way to go. Many option contracts were purchased and, as I post this today 697,297 contracts for call options remain open, ranging from a $0.50 to $20 strike price.
Those contracts are the equivalent of 69.5 million shares of MNKD and for some time I wondered where MM could come up with that many shares if these options were exercised (if a BO were to occur, for example). Well, it's a moot point after today, but I wonder if there will be upward pressure after the options for nearly 70 million shares expire.
I also wonder if other biotechs also have large open interest in the Jan 2016 calls. The biotech sector took a beating the 2nd half of 2015 and most of those stocks are in the red again today on this options Friday.
Could Monday bring the beginning of change or is this just business-as-usual cycles common in biotech? I guess I'm only half as dumb as those that have $20 strikes. Though I'm still hoping for a buyout over $10 within the next couple of hours. Lol... I'm with you there but even a bit worse. Had a bunch of $15s that I purchased right after Adcom when we hit $11/share and was sure we would hit $15 by January 2015. When it started to look like that wasn't very likely, I rolled them over to 2016. I've now let them die in peace. However I am being assigned several thousand shares for puts that I had sold when the strike price was still lower than the share price. Figured that should the share price go down and I be assigned them that, at least, I'd be buying them at a discount. Didn't ever foresee MNKD ever getting down this low. |
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