Tom,
I suggest you reread some of the earlier SBTK posts by Pluvia, with his promises of auditor resignations and trading halts. Never happened, and the stock is right back where it was when he first posted his "warnings" here. The only people who lost money are his "group", who might have shorted the stock, but more likely bought puts and/or sold calls.
He does inform his group in advance of telling the rest of his buddies on SI, so if you really want to know the upcoming "news" in advance, just join CRAP (Committee Reporting as Pluvia).
Interesting you should mention options. It appears to me that all Pluvia is doing is trying to salvage his July option positions, which are about to expire worthless (long puts) or with big losses (short calls). So he is likely to try to post more warnings between now and options expiration.
I do have a question for anyone (short or long) as to the options positions in SBTK. There is a large open interest in out-of-the-money July puts (4,000 contracts). Also in in-the-money July calls, most of which are also likely to be short positions. Option MMs would want to hedge all those contracts, right? By selling some portion (I've heard 1/3 is typical) of the stock those options represent short. Once those positions expire, they no longer need the hedge, so they will cover those shorts. Because of the large July positions, it appears to me that the MMs might be buying back at least 100-200k shares of SBTK after the July expiration. Anybody know if this is correct? If anyone has a better understanding of how the MMs hedge, and the likely results after July options expiration, I'd like to hear it.
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