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It was probably the same 50k shares sold back and forth between manipulators.
I think it is the Mannies that let the price rise (or even help it) to string along those with trailing stop losses, then drop the price to pick up some easy shares. Without news, these pop-up's in price don't hold for long. IMHO.
Thanks, I'll study that possibility.
Sonnetirot, could you spell it out for me how this would work.
I thought that selling a higher strike PUT would lose money faster than you would make on the lower strike buy.
Maybe a concrete example might clarify it for me. TIA.
What day is the official valuation day for the end of the Quarter for mutual funds? Wouldn't it be Friday September 29th?
So, what does Richard Kramer say about IDCC. Has anybody seen their report?
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Hold onto your shares tightly on Monday!
The shorties may try to manipulate the price downwards in order to purchase shares for the exercised calls more cheaply.
I've seen it before when they didn't pin their target on Friday, they push it down on Monday. Don't let anyone steal your shares!
No, I think that they are going to stand aside until Monday.
I think that the insider sales at this time was the best possible scenario. Of course they could have waited for a much higher price after good news but the impact of their selling then would have been greater. The stock would have spiked and be due for a correction and the additional pressure of the insider sales might have sent it into a tailspin. As it was they sold into a controlled environment. Confidence in the stock was at a high, IDCC was in the market actively purchasing shares and supporting the price and the officers were able to liquidate their shares without causing an immediate freefall. And, the good news is yet to come!
It is possible that they too expect the price to be pinned to $30.00 on Friday and so they sold last week and are planning to buy back Friday at a lower price.
What is the significance of Fidelity issuing their research report on April 12th showing the 10% drop as a historical event on April 10th? Is this their way of washing their hands? Is it possible that any Fidelity customers got an advanced look at their "summary" of analyst ratings prior to the drop?
Some might be interested in reading this analysis from Currin Research.
http://www.currinresearch.com/030801_idcc.htm
The latest (1/24/2006) First Alabany Report has a 12-month target of $27.00. I received the report in pdf format by email but don't know how to include it in this message.
There is a messy cut & paste effort of the text on the Yahoo board.
bulldzr, didn't someone also propose the alternative interpretation of IDCC's Delaware Answer as being a veiled threat of a lengthy, expensive, complex case which would involve extensive deposition process of Nokia and all their business partners with the aim of an early dismissal by the court.
Although we longs take it for granted that we will eventually get Nokia's $250+ Mil, I expect WS will wait to respond positively to the Nokia revenue only when it is really booked by IDCC and the analysts factor it into the EPS and their Target prices. That, plus the fact of having Nokia behind us will be a tremendous impetus. In the meantime we look foreward to more surprise licencees.
my3sons87, it would be interesting to track with the most recent data available, the extent to which these major holders are now picking up IDCC.
Thanks to you too MSC290. I had spotted Dave's post first.
Thanks a lot Dave. It will certainly make it more interesting to follow a stock and see who are some of the players that are moving it.
Dave, do you know where we can find a list of the broker codes?
And it should be useful for monitoring pre-market and after-market trading activity. Thanks.
The Archipelago site gives a great free access to Level II information for their exchange (only ARCA and INET). However, it doesn't list bids and asks from all sources.
I did a quick side by side comparison of this sites' info to ETRADE's Level II and while the bid/ask on Arch. was showing as ARCA 24.17 / ARCA 24.20 ETRADE best bid /ask quotes were BTRD 24.17 / BTRD 24.19. The ARCA quotes were at a lower level.
Still the Archipelago source is very indicative of what the whole market is doing and it's free too! I've added it to my bookmarks.
I think Danny is onto something. As the institutions start taking a position they will tend to hold them and not flip in and out.
Trading opened at 23.35 in premarket and has risen to 23.90 on light trading of 3350 shares.
They might have been selling calls on a regular basis every month. The last sales would have taken place a month ago before they could have anticipated exactly when a license deal would be signed or were at least confident they could control the date of signing and announcement.
Yes, I had 130 Jan 17.5 Calls that expired worthless and I am a little mad!
I don't want to start a conspiracy theory here but could it be possible that some of the insiders have been selling calls on their large stock holdings and couldn't afford to announce this on or prior to option expiry date?