Thanks for your honest reply. I have been using Level 2 for over 20 years and have never been able to know what client or clients the market maker is representing.
Many times as now cdel is on both sides, bid and ask.
Still no one has given the actual or estimated number of shares Alpine has sold or will sell PASO shares. From what I have read in this forum it is discussed but no solid proof they sold or had any shares to sell.