Larry, a plausible assumption, but most of the volume occurred above $7.5, so castle creek could only cover some 100,000 hares or less, unless, of course they have been covering since it was around 6.75 earlier this week. If that is the case, then we have pretty well seen the highs, and to continue your scenario, they would now short 30,000 shares per day as long as it is above $7.75 or so?
By thew way, I realize the filings states that "they are not ready yet", but I do not think there is any penalty for reporting less than what they have achieved (not ready may mean a screw is missing, or not tested by the target OEM may means not received a full report back, who knows), so, if the volume continues and $8 is taken out with a vengeance, maybe that PO might be coming down the pike.
Zeev |
