China MediaExpress Holdings, Inc. (fka CCME)

[deuspronobis]

Options cannot be traded during the halt, but they can indeed be exercised. I became a long during the halt when the March puts I sold were exercised.

I have no guess as to the opening price. There are too many variables and unknowns at this point. Will they file a 10k? Will they submit to a forensic audit? Will they remain listed on the Nasdaq? What are the nature and extent of the accounting irregularities? Until these questions are answered, it would be nothing but a WAG to try to put a price on this stock.

However, the fact that the halt will continue is good news for the longs, IMO. It gives the company some time to answer some of these questions and get its filings in order.