China MediaExpress Holdings, Inc. (fka CCME)

[viking86]

my opinion too.

It makes zero sense to sell naked calls at $3 and $5.

Even if stock loses another 50%, it will still be higher than $5 and these calls will be called in.

Where do they get a million+ of shares to deliver to the buyers?

That's why I think the deep ITM calls are bought by a group of shorts to cover or by a big bullish buyer while another group of shorts keeps shorting.