Not sure what you mean by option play, this stock doesn't have options on it. I wish they did, but they need to move to NAZ or NYSE first. The selling that happened the past few down moves was on no volume as was the move up last week. Today was about a 50% increase in volume over the past week. The buyer was agressive as he could of just sat on the bid at 2.75 all day. That tells me someone is looking to fill a fairly large order with a short time frame. Sooner or later this stock will start trending up, I still think for the most part we will trade in 2.60 - 3.50 range for a couple of months. Downside is still limited at this point, the one thing that scares me is so few hands control so much of it. But that works both ways. If they dont sell, there is a very limited supply.
This week will be wacky, I have option contracts in several securities that are expiring this friday and they have been all over the place. I personlly believe we are between 1-5% off the bottom here. Its more of a gut feeling than anything else. Just by watching intraday action i get a sense that even when we go down, its not really selling, its just buyers getting out of the way.
