Idera Pharmaceuticals Inc (IDRA)

[Citrati]

I cannot remember the #'s, but I do not believe there was enough open interest to support that. 8.3 million shares would have required the purchase exercise of 83,000 call contracts. I don't remember seeing over a couple thousand call contracts total whether itm or otm. The very low volume would keep me from considering them as an explanation.
Covering a large short position is more likely, though with the heavy institutional support, potential for good news coming etc., that would have been a very high risk trade. Being an optimist I favor the someone couldn't wait to jump in all at once line of reasoning.....lol
Just my opinion and thoughts.
Good Trades
IDRA