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Monday, March 19, 2018 2:07:46 PM
If you are feeling lavish, you can also attack their smaller asks (5-8k usually) that protect the big block ask (100k or so), this method works well when there is clear buying pressure.
Either method will make the MMs more uncomfortable. I'd advise sitting on the bid above the largest block.
Given that BYOC will likely see a wave of buyers form Maxim's clients, which consists of institutions, pensions, high net individuals, etc. the only way the MMs can catch a break from going to pound town is if they get people to dump. Whenever the next significant catalyst arrives (another acquisition for example), the MMs are going to be squeezed again to a higher position where their stupid little computer programs will keep trying this ad nauseam until they are forced off level 2.
This is why I just shut up and hold (and add a few here or there if I have funds).
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