The AH trades are Settlement Trades
Some people need to get up to speed on how CD conversion are done, and how CD holders that are converting shares to cash use the MM to make the trades on their behalf.
CD holder will contact MM such as VFIN and say we have 50 million shares of PVSP we need to sell this week or month. VFIN will work the stock selling at various times, usually by shorting the stock to hit large BIDs while opening the spread between the BID and ASK. This cat & mouse game goes on all day and usually the settlement trade will happen two seconds after market closes, and one large block will post, the settlement trade for 4 to 6 million usually, covering the daily short or most of it.
On those days where a large settlement trade happens after hours you will usually see the daily short position is fairly small, like 10% or less. When you see the large short interest figure 50% and more, usually there was no settlement trade that day to reduce the short position. Sometimes they will do that large settlement just before close also as we have seen many times.
Also, the settlement trade is ALWAYS lower than the daily trading range, which is allowing the MM to cover their shorts at a lower price, allowing them a Profit.
There is nothing illegal or sinister about the way the MM are handling the trading and it is what allows the CD holder that provided the cash to PVSP to convert the shares and provide the funding.
Hopefully they are working off inventory prior to FF agreement not to sell shares for 6 months.
