Richard,
The Soros scenario is flawed, because anywhere above 17.5 he is a big winner. Selling his stock is unnecessary and would leave him unhedged on the portion that was covering his short calls.
Also, the manipulation theory is overblown.. believe it or not, the larger the option position at expiration, the more apt traders are to push the stock to the strike price, but this is just the natural order flow that has this happening. For example, Many players never intend to exercise there options, therefore they will have to sell them towards expiration. every option bought by a MM will be hedged by selling stock. therefore, above 17.5, the natural oprder flow will be for the public to sell calls and the MM's to sell stock. As long as the calls are for sale, so is the stock naturally pushing it down.. Barring a market collapse, I'd be surprised if both AMTL and WSTL didn't trade up 1 $ each immeddiately on Monday. I bought 2k AMTX at the close Friday assumming it was a gimmee. Hope I'm right :) Best wishes SPEEDY======================================================= |
