InvestorsHub Logo
Followers 1
Posts 231
Boards Moderated 0
Alias Born 06/29/2010

Re: Chugit post# 32309

Wednesday, 08/31/2011 1:45:47 PM

Wednesday, August 31, 2011 1:45:47 PM

Post# of 54312
L2

.001 BID 4,383,895

.0013 ASK 1,650,000
.0014 ASK 2,000,000

The 1,762,307 trade at .001 did not change the quantity on the .001 bid, which means it was probably a closeout transaction (MM has an order to sell 1,762,307 at .001, but first shorts that amount at .0011. Later, the MM covers the short by buying 1,762,307 from his client at .001)