CanWait, I like your thought process, very similar to my thoughts. You just said it better. LOL In your opinion the trigger point will be when the Record & Pay Dates are given? Will NMGL wait on releasing the dates until FFGO can't trade anymore, thus the shorts will have to deal with NMGL to cover there shorts? IMO that would be VERY costly for the shorts. $16.00 and $2.20 = $3400+ for each 1M of FFGO when A&B are tradable. Probable the reason the group are still around. JMHO TIA for any thoughts about this. Sorry I can't respond, I'm a one-a-day poster. LOL