Avid Bioservices Inc (CDMO)

[swg_tdr]

cheynew, re Dart and PUTS

who ever bot the PUTS knew that he or they could sell off our stock after ASCO 2010. Looks like real shorting or "machine trading" two days b4 the "flash crash" that gave a $2.47 low, and subsequent sell-off Versus other biotech stocks that bounced back after the crash.

Technically, the $2.50 PUT at the 5/27/2009 up-gap support (ASCO 2009 run-up and support for the reverse split and ATM) was a low risk bet if you had the fire power long term to run the price. Gaps get tested, as you know, and often have a 68% retrace. But our gap got trashed, right down to pre-May 2009 stock basing. Dart sure took advantage of it.

IMO, those PUTS were real gutsy, considering the pre-ASCO 2010 hype and "our technology". Mark of a profesional.

regards,
NHwild