Could be a pump and dump operator making sure that his pump doesn’t get out of control before he turns around and shorts never forget what Adam fierce teen did to us what is it three or four years back running it up to 14 just to run it down over time to a buck 75
Again, hard to believe - 250 contract bid of May 17 option $5 @ 0.05
This contract almost never has a bid 30 days from expiration let alone 2 days before expiration.
So someone out there is willing to buy the right to purchase 25,000 shares worth of stock for $1250 on the insight that the stock will be at or above $5.05 (to break even) in just 13 trading hours?
That implies a +$1.60 gain or better yet $0.12 per hour until market close on Friday.
I know not every one out there follows the AVXL option market like I do using a coveted call strategy, but that type of premium % for an out of the money call this short time from strike is outrageous!
It points to a either a huge price explosion in the next two days or a large options buyer who has just plain gone off their rocker and wants to give money away on a 2 day pipe dream.
We will know within a few hours of market opening.