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Post# of 34471
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reddymade

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reddymade

Re: None

Thursday, 05/19/2011 5:28:39 PM

Thursday, May 19, 2011 5:28:39 PM

Post# of 34471
What happens when 17000 Options contract puts expire tomorrow, is it similar to short covering?


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China MedicalExpress (CCME) is reeling today after the NASDAQ de-listed the stock. Shares had been halted since March amid allegations the company misrepresented financials. CCME is down $6.94 to $2.19 and options volume is 1,650 calls and 17,000 puts. The action is liquidating trades. The Options Clearing Corporation is only allowing closing trades and no new positions can be initiated in CCME.
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