Rich, Paul, or...
Would someone comment on this post from Yahoo? I'm a little slow w this one. Thanks, Bob
Options trading info: 700 + 700
by: skyhi111
15755 of 15765
Actually, there was a single block of 700 Dec5 calls that was BOUGHT (not
sold) from the ask yesterday, as the open interest count the next day verifies.
Simultaneously, there was a single block of 700 Sep5 calls that was SOLD to the
bid of 15/16 yesterday. HOWEVER, in this case, the open interest today did not
increase by this quantity.
I theorize that there was a prearranged swap to flush shares through the options
market: someone sold to the bid, the bidder knew to place an order for that same
price and quantity. Result: 70,000 shares were 'sold' at 5'15, without moving the
market. AND those contracts were immediately exercised, so the open interest
didn't show the trade when it was done.
Pretty slick, eh? Looks like 'share laundering' to me, heh!! Now who would do
that????
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