So we agree then that the hedge funds can't sell their ZN shares for over a year unless they first buy back to close at 5 cents.
Nope. They only have to worry about "shares" if someone wants to exercise their option to buy shares at $1-3, as opposed to the current market price. Then afterwards if that fruit scenario ever occurs, the Writer who previous sold uncovered options buy the shares at 0.16.
Outside of the $1 call bid at 0.05, all other options read 0.00 on the bid already. Only the $1 2021 Calls at 0.05 bid have any significant open interest.
Believe some but not all brokers plot a graph for Calls/Puts being sold. That might be interesting to find. To see where the most recent option volume has occurred. Still, given the current stock&option price, there really aren't that many options out.
Again, the only problem for retail will be future liquidity. Whether it be stock or options. Both could turn into a Hotel California for retail.
no matter the pending 3D results
Until the PPS goes to $2.50 again it doesn't matter. After ZN gets tossed to the OTC Market, it will be entirely up to retail. The big kids will be gone.
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