They are taking their time and mining the sweet spot here. Those who bought Friday will hold and most inclined to flip likely have by now. That is the game, convert against the low as much as possible then take it some some more. The reason they haven't let it go into the 2s is because there are masses there who bought or averaged down and they don't want to compete with that selling. Right here they are good moving those ultra cheap conversions. Yet those buying here expect to flip into the 2s? Good luck.