Judging by the premarket price action it isn't good. Nothing in the filing says what will happen to the commons at this point. Although I suspect we will be wiped out. I am taking my loses and moving on.
This news wasnt unexpected. We've been expecting this filing for quite some time now.
The stock has been trading as if bk was a foregone conclusion. Look at all the other equities that have already filed bankruptcy. Most of them are trading higher than where SandRidge Energy stock is Trading. I'm not selling a share. I'm writing all of mine for free anyway so it doesn't really matter to me. This is a gamble play and chances are, the common stock price will be very volatile and provide many opportunities for profits.
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