China MediaExpress Holdings, Inc. (fka CCME)

[bullmarkets]

Shorts wanted no appeal. Even some longs wanted to know their fate quickly, to sell at a pink open on the 12th, get their remaining cash out, to then move on.

Many longs want this to be an educated trade with many FUD influences removed i.e. keep it halted as long as needed to get audits and filings in order. These longs also see more puts expiring over months which intensify buying pressure at the eventual open.

In other words, saying someone is upset with CCME filing the appeal does not mean the person who is upset is necessarily short. It could be a long who wants to move on.

-Andrew